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1040 Workshop CPE Details

The Essential 1040®
8 CPE for AFSP, CPA, CRTP, EA
6 CPE for CFP®

For 30 years NATP has been providing the best tax update in the country to prepare professionals for the coming tax season. This tradition of excellence will continue in 2015. This course covers the standard features of the inflation-indexed updates for preparing individuals' 2015 tax returns, new tax laws applicable to 2015 and recent developments. This is combined with two hours of Ethics.

Upon completion of this course, the tax professional will be able to:

  • Apply inflation-adjusted amounts to 2015 individual tax returns.
  • Identify expired tax provisions.
  • Summarize new federal tax laws that have passed since 2014.
  • Identify federal tax provisions first taking effect in 2015.
  • Apply the latest court and IRS rulings to taxpayers' current situations.
  • Analyze new developments and provide tax tips to clients.
  • Summarize the Affordable Care Act provisions taking effect in 2015 and beyond.
  • Describe the current IRS hands-on initiative to improve the accuracy and quality of filed tax returns and to heighten awareness of preparer responsibilities.
  • Explain the Circular 230 rules governing individuals eligible to represent taxpayers before the Internal Revenue Service (IRS).
  • Identify the various penalties that can be assessed on a tax return preparer and how to avoid them.
  • Explain due diligence requirements for earned income tax credit (EIC).

CPE Sponsor Information

Course Year: 2015
Course Level: Update
Prerequisite: Basic knowledge of preparing Form 1040
Advance Preparation: None
Delivery Method: Group-Live

CPE Credits Designation Field of Study
IRS8AFSP4 Federal Tax Law Update, 2 Federal Tax Law Topic, 2 Ethics
IRS8EA4 Federal Tax Law Update, 2 Federal Tax Law Topic, 2 Ethics
NASBA8CPA6 Taxes, 2 Regulatory Ethics
CTEC8CRTP4 Federal Tax Law Update, 2 Federal Tax Law Topic, 2 Ethics
CFP Board6CFP®N/A

 

Beyond the 1040®
8 CPE for AFSP, CFP®, CPA, CRTP, EA

In this unique Beyond the 1040, learn about most talked about law change and a subject that is often overlooked. The Affordable Care Act (ACA), has affected so many different areas with a major impact on tax law. This course will focus on the premium tax credit and the importance of health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement accounts (HRAs). In addition, this course will examine a wide variety of elderly tax issues which is an area of tax preparation that is neglected.

Upon completion of this course, the tax professional will be able to:

  • Determine if a taxpayer is eligible to make HSA contributions.
  • Compute an eligible taxpayer’s HSA contribution limit when there is a change in circumstances.
  • Report HSA contributions and distributions on Form 8889, Health Savings Accounts (HSAs).
  • List the tax benefits of an HRA.
  • Summarize the tax effects of the ACA on health FSAs and HRAs.
  • File Form 720 to report the excise tax imposed on HRAs.
  • Determine if a taxpayer is eligible to claim the premium tax credit.
  • Compute the premium tax credit in different situations.
  • Summarize the nondiscrimination rules for self-insured medical reimbursement plans.
  • Manage lump-sum distributions, including the possibility of 10 year averaging.
  • Evaluate any credits and deductions that are available to elderly taxpayers.
  • Report long-term care expenses and insurance proceeds.
  • Differentiate between taxable and nontaxable income.
  • Overcome unique circumstances when receiving social security benefits.

CPE Sponsor Information

Course Year: 2015
Course Level: Intermediate
Prerequisite: Basic knowledge of individual taxation
Advance Preparation: None
Delivery Method: Group-Live

CPE Credits Designation Field of Study
IRS8AFSPFederal Tax Law Topic
IRS8EAFederal Tax Law Topic
NASBA8CPATaxes
CTEC8CRTPFederal Tax Law Topic
CFP Board8CFP®N/A

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