Form 1040 Part 1: Filing Status, Exemptions and Income

Study Level:  Basic
Delivery Method:  Online self-study
Provider of Record: WebCE
Tax Year: 2018
Field of Study: Taxes
Prerequisite: None

Course Description:

This course commences a four-part study of the 1040 family of forms that is used for reporting of income and deductions by individual taxpayers. The course begins by reviewing the criteria that govern whether different categories of individuals need to file a tax return and the forms that can be used in different cases. Next are discussed the due dates for filing a tax return and the extensions of these deadlines that may be granted under various circumstances. The remaining chapters of the course will cover the tax treatment that applies to taxpayer income of different types, and the rules that govern whether this income is taxable.

Topics include:
  • The Federal Tax Return
  • Filing Status and Exemptions
  • Employee Compensation

Learning Objectives:
After completing this course students will be able to:
  • 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
Last Revised: March 2018
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