Note: This course is also included in The Essential 1040.
Every year the rules of taxation change. From exemptions to credits to retirement plan contributions and everything in between, virtually nothing stays the same. This module presents a number of the inflation-indexed updates for preparing individuals’ 2016 tax returns. All of these items are summarized in one spot for easy reference throughout the upcoming tax season. In addition, the courts and IRS issue rulings and opinions on existing tax provisions that clarify tax law or change the interpretation of it altogether. This module summarizes the more significant new developments that are likely to affect taxpayers for the 2016 tax year, as well as new tax laws that have passed since 2015.
Upon completion of this course, you will be able to:
- Apply inflation-adjusted amounts to 2016 individual tax returns.
- Identify expired tax provisions.
- Apply the latest court and IRS rulings to taxpayers’ current situations.
- Analyze new developments and provide some tax tips to clients.
- Summarize new federal tax laws that have passed since 2015.
- Identify federal tax provisions first taking effect in 2016.
- Summarize the Affordable Care Act provisions taking effect in 2016 and beyond.
- Analyze new tax laws and provide some tax tips to clients.
- Tax season quick reference guide
- Tax season quick reference card
- Interactive review questions
- This course includes an e-book. CPE is issued after exam is successfully completed.