1040 Workshop CPE Details

​​​​​​1040 Workshop CPE Details



The Essential 1040®

8 CPE for AFSP, CPA, CRTP, EA
6 CPE for CFP® (No ethics available for CFP®)

For 31 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 2017. This course covers the standard features of the inflation-indexed updates for preparing individuals' 2017 tax returns, new tax laws applicable to 2017 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 2017 individual tax returns.
  • Identify expired tax provisions.
  • Analyze new tax laws and developments and provide tax tips to clients.
  • Apply the latest court and IRS rulings to taxpayers' current situations.
  • Identify the current IRS hands-on initiative to improve the accuracy and quality of filed tax returns.
  • Identify the Circular 230 rules governing individuals eligible to represent taxpayers before the Internal Revenue Service (IRS).
  • Identify the rules governing unenrolled tax preparers.
  • Identify common penalties assessable against tax return preparers.
  • Identify ​due diligence requirements for earned income tax credit (EIC).

Course Year: 2017
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 explores a variety of unique tax situations including specialty occupations and working abroad. We review the proper tax reporting requirements for occupations such as clergy, truckers, marijuana farmers, gamblers, barbers and beauticians, home flippers, Airbnb operators, and beyond. We also examine when workers are employees or independent contractors, and whether a taxpayer is truly engaged in a business or is subject to hobby loss rules. In addition, we address foreign-sourced income reporting, and lastly, we analyze the tax impact of life estates.

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

  • Summarize the reporting requirements for various specialty occupations.
  • Distinguish between an employee and an independent contractor.
  • Recognize options available for correcting misclassified workers.
  • Distinguish between activities engaged in for profit and hobbies.
  • Determine if a client qualifies for the foreign earned income exclusion.
  • Differentiate between the foreign housing deduction and exclusion.
  • Complete Form 2555, Foreign Earned Income.
  • Identify the pros and cons of transferring property with a retained life estate.
  • Determine the value of the life interest and remainder interest.
  • Calculate the sale of life estate property during transferor’s lifetime.

Course Year: 2017
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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