Gear Up

Course Detail

1040 Individual Tax - 2021   New

CATEGORY: Taxation
COURSE ID: T40G21, VERSION 1.00
  Seminar
16 CPE Credits
Level: Basic


This comprehensive course covers key tax issues for completing complicated individual returns including family return issues, taxpayers with investments, retirement income, the sole proprietor, and business and rental activity owners. Stay current with in-depth coverage of recent legislation, case law developments, and relevant notices, announcements, revenue rulings and procedures.  Speakers are all practicing preparers who share practical tips to help you get ready for this tax season. Coverage includes:  

  • Economic impact payments (EIPs) (also known as recovery rebate credits) – 2021 and round three.
  • The excess business loss limitation is back and here to stay for an extra year.
  • Temporary advance payments of the child tax credit in 2021 and sweeping enhancements of this popular personal tax credit.
  • Earned income tax credit – 2021 changes and beyond.  
  • Changes to the education credits and deductions and the rules associated with debt discharge    
  • The rules of retirement plan accumulation and distribution  
  • Strategies to maximize personal credits – earned income tax credit and credits for sick and family leave for certain self-employed individuals.
  • The child and dependent care credit more than doubled for 2021 for qualifying taxpayers.
  • Special 2021 retirement distribution rules for qualified disaster distributions.
  • Reporting of interest, dividends, and capital gains  
  • Tax practice and taxpayer strategies to safeguard confidential taxpayer information 
  • IRS issues ranging from reorganization to procedural aspects of notices and responding to the IRS  
  • Charitable contribution deductions for taxpayers that itemize their deductions (or don’t).
  • The basics of reporting Schedule C self-employment income and expenses  
  • Recent tax legislation and its impact on an individual taxpayer’s net operating loss (NOL), including new rules for farming NOLs.
  • SBA’s PPP loan forgiveness – Schedule C or Schedule F outcomes.
  • Premium tax credit relief for 2021 and 2022.
  • Self-employment taxation exclusion applicable to rentals from real estate  
  • The CARES Act retroactive changes to qualified improvement property (QIP)  
  • Final regulations defining real property for purposes of IRC Sec. 1031 tax-free like-kind exchanges 
  • The qualified business income deduction (QBID) under IRC Sec. 199A – an endangered species? 
  • Plus, much more



For a listing of Gear Up sponsored Live Online Seminar events click here.

Transfers/Cancellations  - In light of the continually evolving COVID-19 situation, we've revised our cancellation policy to afford you the flexibility to confidently pursue the education you need. Click here for policy details.

We partner with sponsoring state associations to provide both live, in-person, and online seminars. Here is where you can reach your local partners to learn more.
Click here for a schedule of their events (PDF)  


Going virtual has never been easier and a better value!

Does not apply to association or society events.     

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