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​​1040 Workshop CPE Details

The Essential 1040®

8 CPE for AFSP, CPA, CRTP, EA
6 CPE for CFP® (No ethics available 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 2016. This course covers the standard features of the inflation-indexed updates for preparing individuals' 2016 tax returns, new tax laws applicable to 2016 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 2016 individual tax returns.
  • Identify expired tax provisions.
  • Summarize new federal tax laws that have passed since 2015.
  • Identify federal tax provisions first taking effect in 2016.
  • 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 2016 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).

Course Year: 2016
Course Level: Update
Prerequisite: Basic knowledge of preparing Form 1040
Advance Preparation: None
Delivery Method: Group-Live

CPE Credits
Designation

Field of Study
IRS8AFSP6 Federal Tax Law Update, 2 Ethics
IRS8EA6 Federal Tax Law Update, 2 Ethics
NASBA8CPA6 Taxes, 2 Regulatory Ethics
CTEC8CRTP6 Federal Tax Law Update, 2 Ethics
CFP Board6CFP®N/A

 

Beyond the 1040®

8 CPE for AFSP, CFP®, CPA, CRTP, EA

This course addresses a wide variety of tax issues relating to children and homes. We explore issues involving children ranging in age from 0 to 27, such as tax credits, dependency exemptions, kiddie tax, and health insurance for nondependent children. In addition, we examine a variety of tax issues relating to the taxpayer’s principal residence from the date of purchase to the date of disposition. We review the mortgage interest deduction, deductible business travel to and from the residence, and the §121 exclusion, as well as converting a residence to a rental and claiming missed depreciation.

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

  • Summarize the tax credits available to taxpayers with dependent children.
  • Determine which taxpayer may claim the dependency exemption for a qualifying child.
  • Summarize the requirements to claim tuition credits or deduction.
  • Determine how inheritance or court settlements impact children’s reporting requirements.
  • Analyze when kiddie tax applies and its reporting requirements.
  • Analyze how to allocate health insurance on a family plan from the Marketplace to a nondependent child under 27.
  • Summarize the requirements for deducting home mortgage interest and real estate taxes on Schedule A, Itemized Deductions.
  • Determine if a taxpayer has a home office that is the taxpayer’s principal place of business.
  • Distinguish deductible business transportation versus nondeductible commuting for travel between the residence and another location.
  • Determine the basis of a residence when it is converted to a rental and upon disposition.
  • Claim missed depreciation by filing Form 3115, Application for Change in Accounting Method.
  • Compute the §121 exclusion and report the sale on Form 8949, Sales and Other Dispositions of Capital Assets, or Form 4797, Sale of Business Property, when there has been business use of the residence.

Course Year: 2016
Course Level: Intermediate
Prerequisite: Basic knowledge of individual taxation
Advance Preparation: None
Delivery Method: Group-Live

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