2019 Annual Tax Season Update

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

Course Description:
Each year, income tax return preparation must take into account inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws. The 2019 Annual Tax Season Update course is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients’ 2018 income. The course (a) examines the Tax Cuts and Jobs Act of 2017 and changes in various limits that reflect inflation, (b) provides a general tax review, and (c) 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:

  • identify the principal individual income tax changes brought about by the Tax Cuts and Jobs Act of 2017
  • apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns
  • calculate nonexempt taxpayers’ tax penalty under the Affordable Care Act for failure to maintain health care coverage
  • 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 that are 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: June 2018