Overview for the 2018 Tax Season

Study Level:  Overview
Delivery Method:  Online self-study
Provider of Record:  WebCE
Tax Year: 2017
Field of Study: Taxes, update
Prerequisites:  None

Course Description

Each year, income tax return preparation is affected by inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws.   

The Overview for 2018 Tax Season course is based on the 2018 Annual Federal Tax Refresher course and is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients’ 2017 income. It does not, however, satisfy the Internal Revenue Service’s voluntary annual filing season program.

The course (1) examines new tax law and changes in various limits that reflect inflation, (2) provides a general tax review, and (3) discusses important rules governing tax return preparer ethics, practices and procedures.

Learning Objectives

Upon completion of this course, a tax return preparer should be able to:

  • apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns
  • calculate taxpayers’ additional tax liability resulting from the Medicare tax, net investment income tax and individual shared responsibility payment
  • 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 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
  • identify the duties and restrictions imposed on tax preparers under Circular 230

Revised 5/2017

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