- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 1.0
This course covers tax and other payments, plus refundable credits reported on Schedule 3, Additional Credits and Payments, and directly on Page 2 of Form 1040. The topics covered include amounts automatically withheld, estimated tax payments, the earned income credit, excess Social Security and tier 1 RRTA tax withheld, the additional child tax credit, the American opportunity tax credit, the health insurance premium tax credit, amounts paid with a request for extension to file, and other refundable credits, such as the credit for federal taxes on fuels.
Upon successful completion of this course, the user should be able to:
properly report taxes withheld from wages, tips, pensions, annuities, and other deferred income;
determine which taxpayers are affected by estimated tax payments and how those payments should be paid and reported; and
identify the proper application of tax payments and credits reported on Schedule 3 and directly on Form 1040.