Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine the tax changes affecting 2024 as a result of passage of the SECURE Act 2.0 and the inflation-changed limits effective for 2024 that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes.

• identify the principal individual income tax changes brought about by recent legislation
• 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 current status of tax extenders
• identify the types of income that must be recognized
• pinpoint the tax rules to the various credits and adjustments to income that are available to taxpayers
  

Tax Year: 2024