Annual Tax Season Update
Important Note: This course provides 8-Hrs of continuing education credits in the IRS Federal Tax Law category. If you wish to obtain the Annual Filing Season Program Record of Completion, do not take this course. The name of this course can be easily mixed up with another course offered on this website, please notice the differences in the names to be sure you are enrolling in the correct course:
- “Annual Tax Season Update“ – Provides 8 CE credits in the Federal Tax Law category (Designed for EA’s)
- “Annual Federal Tax Refresher“ – Provides 6 CE credits in the AFTR category (Not for EA’s)
Each year, income tax return preparation must take into account inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws. The Annual Tax Season Update course is designed to provide valuable information to persons preparing clients’ individual 1040 income tax returns. The course a) examines new tax legislation and changes in various limits that reflect inflation, b) provides a general tax review, and c) discusses important rules governing tax return preparer ethics, practices and procedures. This is a basic tax course with no prerequisites, and qualifies for 8 CE credits in the IRS Federal Tax Law category.
- Identify the principal individual income tax changes brought about by recent tax legislation;
- Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns;
- Recognize the federal income tax filing statuses and the criteria for their use;
- Identify the types of income that must be recognized;
- Apply the tax rules to the various credits and adjustments to income that are available to taxpayers;
- Recognize the penalties that may be imposed on a preparer for failing to meet ethical and practice standards in preparing tax returns; and
- Identify the duties and restrictions imposed on tax preparers under Circular 230.
To stay current with the IRS Tax Laws, exam access will expire after 1 year from the course purchase date. Your account will remain active which allows you to retrieve your Order history and Course Certificate.