- NY Credits : 8.0
- TX Credits : 8.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 8.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 8.0
This course provides an overview of various individual income tax issues, including the impact of the most recent legislation. Individual topics include gross income, sales and exchanges, deductions, tax credits, withholding, tax returns, payment, and alternative minimum income tax. This course is comprehensive with authoritative references, examples, rules, limitations, and exceptions. This overview level course provides a general review of individual taxation from a broad perspective. It is appropriate for the professional at any organizational level.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
determine key tax items taking into consideration special rules on unearned income of young individuals and employee benefits;
recognize income from a variety of sources;
determine the basis of property as well as any gain or loss upon conversion of the property;
identify capital gains and losses, and the netting process;
recognize appropriate standard and itemized deductions;
determine the tax benefits related to retirement contributions, medical and health savings accounts and education expenses;
distinguish between refundable and nonrefundable credits;
recognize personal credits, tax withholding requirements, estimated taxes and tax filing responsibilities; and
identify the basic structural and computational elements of the alternative minimum tax.