2022 Annual Federal Tax Refresher

Overview

Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various laws passed to address the financial consequences of the coronavirus pandemic significantly affect tax planning and may also affect taxpayers' income tax liability. This course will examine many of those changes.

The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS voluntary Annual Filing Season program. It discusses new tax law-including various tax extenders-and recent updates for the upcoming filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.

In organizing this course, the term "domain" is used in to more closely follow the language of the IRS Annual Federal Tax Refresher course outline.

Learning Objectives

Upon completion of this course, students should be able to:

  • identify the principal individual income tax changes brought about by recent legislation
  • apply the inflation-adjusted and other limits to the proper preparation of taxpayers' income tax returns
  • recognize the federal income tax filing statuses and the criteria for their use
  • describe the current status of tax extenders
  • 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

Tax Year: 2022

Designed For

Unenrolled (non-exempt) tax professionals looking to gain the IRS' voluntary AFSP Record of Completion. The course is not intended for EAs, CPAs, or attorneys.

Prerequisites

Students should have a general understanding of federal tax law concepts.

Advanced Preparation

None

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.

Find this course for your license:

License or Certification

Regulator

Type