Each year, income tax return preparation is affected by inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws.
The 2017 Annual Tax Season Update course is based on the 2017 Annual Federal Tax Refresher course and is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients’ 2016 income. It does not, however, satisfy the Internal Revenue Service’s voluntary annual filing season program.
The course a) examines new tax law 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.
Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns.
Calculate taxpayers’ additional tax liability resulting from the Medicare tax, net investment income tax and individual shared responsibility payment.
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 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.
Paul J. Winn, CLU, ChFC has over thirty years experience in the life insurance and investment industry. As well as fifteen years as a financial writer, editor, and trainer. Paul has worked for Mutual Life Insurance Company of New York, Security Mutual Life Insurance Company, Principal Financial Group, and the Maryland Financial Corporation. Paul is a Published book author, writer & editor of major mutual life insurance company’s agent-training “university”, and the creator of more than 100 training courses in computer-based training, print and scripted classroom formats.
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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