Individual Income Tax Credits and Due Diligence

Overview

Individual Income Tax Credits and Due Diligence is a 5-chapter course covering various tax credits for individuals, including eligibility, timing, limitations, phase-outs, carryovers, qualified expenses, and calculations. It discusses credits like the Child Tax Credit, Earned Income Tax Credit, and Electric Vehicle Tax Credit. The final chapter focuses on due diligence for tax preparers, including principles, knowledge, Form 8867, record-keeping, common errors, penalties, and IRS actions. 

Find this course for your license


License or Certification 

 

Regulator 

 

Type 

 

Learning Objectives

  • Describe and identify the requirements for claiming the various income tax credits available to individual taxpayers
  • List the due diligence requirements a tax preparer must meet when preparing a tax return claiming the Earned Income Tax Credit (EIC), American Opportunity Tax Credit (AOTC), Child Tax Credit, Additional Child Tax Credit, and Other Dependent Credit (CTC, ACTC, ODC)
  • Recognize the records a tax return preparer is required to keep to support a client's claim for the EIC, AOTC, CTC, ACTC, and ODC
  • Identify the penalties that may be imposed on a tax preparer and his or her employer for failing to comply with due diligence requirements when preparing a client's tax return claiming the EIC, AOTC, CTC, ACTC, or ODC
  • Calculate the tax credits available for taxpayers' energy-efficient home improvements
  • Describe the tax credits available for the purchase of electric vehicles.


Designed For:

EAs, CPAs, CRTPs, and other tax pros and financial advisors and professionals at all stages of their careers

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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