| CPE Hours: 24 (
Federal:22, , Ethics:2
) |
Publication Date: 01/26/2010 |
Cost: $62.95
|
Level: Basic |
Author:
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|
Prerequisites: No prerequisites or advance preparation needed.
Download Course for Free Now (Pay only when you want CPE Credit)
Designed for
Enrolled Agents, "Tax Returns Made Easy" uses the
2009 IRS Publication 17 for its course material combined with an extensive supplement for new federal law changes. It also includes an ethics supplement and provides the 2-hour Ethics CPE requirement.
Now with Interactive Responses! This course now includes new lessons to help with your review before the final exam.
Take the final exam online - For faster results and more expeditious retakes, we provide an online test taking capability. Our new system allows you take the exam at your own pace. Your answers are saved until you are ready to continue with the exam. You can leave at any time and return where you left off. It allows you to come back as often as you want and at your convenience.
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Please Note - If you ordered the print version by mail or fax and would like to take the final exam online, please call Customer Service at 1-800-442-2477 x1 for instructions. You must have a copy of the 2009 IRS Publication 17 in order to take the final exam online.
This text is divided as follows:
FEDERAL SUPPLEMENT
PART ONE
2010 Inflation Adjustments 3
Exemptions 3
Definition of qualifying child revised 3
FICA & Medicare withholding 4
Differential pay not subject to FICA 4
Unemployment 4
Qualified transportation fringe benefits 4
One-time social security payments 4
Capital gains rates 5
Cash for Clunkers 5
Broker basis reporting 5
ISO & ESPP employer required reporting 6
Qualified small business stock 6
Home sale gain attributable to nonqualified periods 6
Private activity bond interest 7
Insurance life settlements 8
Foreign bank account reporting 10
Special depreciation allowances 11
Section 179 expense deduction 12
Auto mileage rates 12
Luxury auto limits 12
Domestic production deduction 13
Real estate professionals 13
COBRA continuation premium subsidy 14
Extended NOL carryback period 15
Review Questions Part One 17
PART TWO
401(k) plan contribution limits 19
Required minimum distributions 19
Tax-free IRA distributions for charitable purposes 20
Health savings accounts 21
IRA contribution limits 21
Roth IRA AGI conversion limitations 21
American Opportunity Credit 22
Sec 529 plans – Qualified tuition programs 23
Gift tax exception 23
Higher education loan interest 23
Foreign earned income exclusion 23
Qualified motor vehicle taxes deduction 24
Standard deduction 25
Long-term care insurance 26
Sales tax 26
Home mortgage interest 27
Home mortgage interest & audits 28
haritable contributions 28
Credit and debit card fees related to tax payments 29
Attorney fees in opt-out class action lawsuits 29
Casualty losses 29
Disaster losses 29
Review Questions Part Two 30
PART THREE
Tax treatment of frozen bank deposits 32
Ponzi scheme losses 32
How casual slots player determines wagering gains and losses 35
Itemized phase-out reduced 35
Self-employment tax 35
Alternative minimum tax 35
AMT refundable credit amount 36
Federal brackets 38
Child tax credit 38
Earned income credit 38
Homeowner energy credits 40
Special issues 43
Review Questions Part Three 44
PART FOUR
Alternative motor vehicle credits 46
Work opportunity tax credit (WOTC) 47
First-time homebuyer credit 48
Differential pay credit – uniformed services 52
Making work pay credit 53
Plug-in electric vehicle credit 55
Underpayment of estimated taxes 57
New federal law benefits nonresident military spouse 58
Review Questions Part Four 58
ETHICS SUPPLEMENT
Related IRS Publications and Forms 2
IRS Pub 230
§ 10.3 - Who May Practice 2
§ 10.6 - CPE Requirements 2
§ 10.20 - Information to be Furnished 3
Section 7525 - Confidentiality Privilege 4
IRS Pub 230
§ 10.21 - Knowledge of Client’s Omission 5
§ 10.22 - Diligence as to Accuracy 5
§ 10.23 - Prompt Disposition of Pending Matters 5
§ 10.24 - Assistance from or to Disbarred or Suspended Persons and Former IRS Employees 5
§ 10.25 - Practice by Former Government Employees, Their Partners and Their Associates
§ 10.26 - Notaries 6
§ 10.27 - Fees 6
§ 10.28 - Return of Client’s Records 7
§ 10.29 - Conflicting Interests 8
§ 10.30 - Solicitation 8
§ 10.31 - Negotiation of Taxpayer Checks 10
§ 10.32 - Practice of Law 10
Review Questions – Part One 11
§ 10.33 - Best Practices for Tax Advisors 13
§ 10.34 - Standards - Tax Returns and Documents, Affidavits and Other Papers 13
§ 10.35 - Requirements for Covered Opinions 14
§ 10.36 - Procedures to Ensure Compliance 16
§ 10.37 - Requirements for Other Written Advice 16
§ 10.50 - Sanctions 17
§ 10.51 - Incompetence and Disreputable Conduct 17
§ 10.52 - Violations Subject to Sanction 19 § 10.60 - Rules Applicable to Disciplinary Proceedings 19
§ 6694 & 6695 Tax Return Preparer Penalties 19
Review Questions – Part Two 23
By completing this course the student will learn what is new in taxes and obtain a general review and update of rules associated with filing a federal individual income tax return. The student will also learn the ethical standards mandated by Circular 230. The course uses IRS Publication 17 along with supplemental materials covering new tax law and the ethics portion of this course.
IRS - Enrolled Agents
Oregon TP
