Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various laws passed to address the financial consequences of the coronavirus pandemic significantly affect tax planning and may also affect taxpayers' income tax liability. This course will examine many of those changes.
The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS voluntary Annual Filing Season program. It discusses new tax law-including various tax extenders-and recent updates for the upcoming filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.
In organizing this course, the term "domain" is used in to more closely follow the language of the IRS Annual Federal Tax Refresher course outline.
Unenrolled (non-exempt) tax professionals looking to gain the IRS' voluntary AFSP Record of Completion. The course is not intended for EAs, CPAs, or attorneys.
Students should have a general understanding of federal tax law concepts.