Overview

Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the American Rescue Plan Act (ARPA) that affect tax liability and tax return preparation will significantly affect tax planning and may also affect taxpayers’ income tax liability. This course will examine many of those changes.

The Annual Tax Filing Season Update course discusses new tax law and recent updates for the 2022 filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.

CPE Acceptance

 

CPE Course For:

CPAs in most states (chart)
Other Professionals (chart)
 EA

Not Valid For:

AFSP
Tax Preparer

Not sure?  Contact us!

Online Course Materials

This is a fully online materials course that does NOT require the separate purchase of a book.

How will I access the materials?

Once you login to your course, click on the materials link to access the PDF materials and

  • Read online
  • Download to your computer
  • Print out

Most students have Adobe PDF reader already, but if you need it, it is free to download. 

Details

FunCPE Course #: PWX1121
Materials: Online materials
Format: Interactive self-study
Subject: Federal Tax
Exam questions:  Final-45 multiple choice
Document length:  140 pages
Passing score: 70% | Unlimited retakes
Prerequisites: None
Advance prep: None
Course level: Overview
Last reviewed/updated: 06/03/21
Expiration: One year from enrollment

Learning objectives

To understand how Federal tax law applies to situations you may encounter. You will learn how to:

  • Identify the principal individual income tax changes brought about provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the American Rescue Plan Act (ARPA) that affect tax liability and tax return preparation;
  • Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns;
  • 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 that are 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.