18-Hour Annual Filing Season Program Bundle
Important Note: This bundle is not designed for Enrolled Agents or California Tax Preparers. EA’s and Exempt California Tax Preparers, please view our List of All Courses to see other course options.
18-Hour Annual Filing Season Program Bundle
This bundle fulfills the continuing education requirement to be eligible for the IRS Annual Filing Season Program Record of Completion for PTIN holders. When purchasing this bundle, your account will be enrolled in the following 6 courses:
- (6 credits) Annual Federal Tax Refresher
- (3 credits) Home Office Deduction
- (3 credits) Keeping Taxpayer Data Secure
- (2 credits) Real Estate Taxes
- (2 credits) Tax Treatment of Virtual Currency
- (2 credits) Ethics
All courses must be completed by December 31, 2022 in order to fulfill the CE requirements for the 2022 AFSP.
Scroll down for more details about each course.
Course 1: Annual Federal Tax Refresher
Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, new tax laws come into being that may significantly affect taxpayers’ income tax liability. This course will examine many of those changes.
The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS Annual Filing Season Certificate program. It discusses new tax law and recent updates for the upcoming filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures. This is a basic tax course with no prerequisites, and qualifies for 6 CE credits in the IRS Annual Federal Tax Refresher category.
**AFTR course Final Exam must be successfully passed by midnight 12/31/2022 (local time of the student)
Course 2: Home Office Deduction
Home Office Deduction examines the federal income tax deduction for business use of a home. It addresses the qualifications for a home office deduction and the actual expense and simplified methods of determining the deduction. In addition, it discusses the special home-office deduction rules applicable to daycare facilities and the recordkeeping requirements applicable to taking a home office deduction. It considers where the deduction should be taken and the forms a tax preparer should use in connection with the deduction. This is a basic tax course with no prerequisites, and qualifies for 3 CE credits in the IRS Federal Tax Law category.
- Identify current information related to transportation expenses.
- Recognize what travel expenses are deductible.
- Identify the deductibility of non-entertainment-related meals and entertainment expenses.
The annual global cost of cybercrime is high and getting higher all the time. In fact, cyber criminals reap a windfall from their activities that is likely to be in the trillions. Almost all of that cybercrime began with—and continues to start with—a social engineering concept known as “phishing.”
Certain business organizations, among which are those referred to as “financial institutions,” are charged by the FTC with taking particular steps to protect their customers’ financial information. Included in the category of financial institutions are professional tax preparers. Professional tax preparers normally maintain a significant amount of taxpayer information in various files—electronic and paper—that would be a treasure trove for cyber criminals.
In this course, tax preparers are introduced to the problem of cybercrime and its costs, offered methods that can be expected to reduce the chances of becoming a cybercrime victim, and informed of proper steps to take if they do become victims of cybercrime. This course is a basic tax level course with no prerequisites, and qualifies for 3 CE credits in IRS Federal Tax Law.
- •Recognize the pervasiveness of cybercrime;
•Identify the potential costs of experiencing a data breach;
•Understand the best practices that may be implemented to protect a tax preparer from cybercrime; and
•List the responsibilities of a tax preparer who has experienced a taxpayer data breach.
This self-study courses discusses important tax implications of selling a home, as well as the investment of a second home for personal or rental purposes. This is a Basic tax course with no prerequisites, and qualifies for 2 CE credit in IRS Federal Tax Law.
- To recognize the tax rules that apply when an individual sells his or her main home
- To identify some of the tax implications of owning a second home, whether or not for rental purposes
Virtual currency use is increasing, and roughly 3 in 10 Americans younger than age 30 indicate they have invested in, traded, or used a virtual currency, such as Bitcoin or Ethereum. As a result, tax preparers are more likely than ever to encounter clients who have engaged in one or more virtual currency transactions during the year and who may have taxable income as a result. Tax Treatment of Virtual Currency briefly discusses the nature of virtual currency, how transactions in virtual currency occur and are recorded, and the tax treatment to which they are subject. This is a basic tax course with no prerequisites, and qualifies for 2 CE credits in the IRS Federal Tax Law category.
- Describe virtual currency;
- Explain how central bank digital currency (CBDC) is used;
- Recognize how stablecoins differ from unbacked cryptocurrency;
- Describe how virtual currency networks maintain security; and
- Recognize how blockchain is employed with respect to virtual currency transactions.
- Calculate the adjusted cost basis of virtual currency that is purchased, mined, or received as a gift;
- Calculate the adjusted cost basis of virtual currency that is Apply existing tax law to transactions involving virtual currency;
- Describe the tax treatment of virtual currency given as a charitable gift; and
- Recognize the tax treatment given virtual currency when less than all is sold, exchanged, or otherwise disposed of.
This course examines tax preparer conduct standards. It addresses the issues of confidentiality, accuracy, conflict of interest, taxpayer omissions and return of client records. The ethical rules governing these issues are discussed, and tax preparers are presented with real-world scenarios that focus on the ethical issues that may be encountered in their professional activities. A final examination covering the course material is administered. This course is a basic tax level course with no prerequisites, and qualifies for 2 CE credits in the Ethics category.
- Recognize the permitted scope of tax return preparer responsibilities;
- Identify the best practices for tax advisers in preparing or assisting in the preparation of a submission to the Internal Revenue Service;
- List the various sanctions that may be imposed for a preparer’s failure to comply with applicable conduct rules.