Form 1040 Part 1: Filing Status, Exemptions and Income

Overview

Under U.S. federal income tax law, filing status determines the tax return form used. Form 1040 reports income and deductions. Tax preparers must know their clients’ filing status and the forms needed. This course reviews criteria for filing, applicable forms, due dates, possible extensions, and tax treatment for different income types.

Find this course for your license

License or Certification

Regulator

Objectives

identify those persons who must file an individual federal income tax return and determine the appropriate filing status
identify the due dates and available extensions for filing of tax returns by individuals within the US, temporarily or permanently overseas, and in combat zones
correctly identify the tax treatment given to wages and salaries, tip income, fringe benefits and other miscellaneous forms of employee and non-employee compensation

Tax Year: 2023-2024

Designed For:

Newer tax professionals and those looking for a basic review of form 1040 tax issues

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation:

None

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