2016 Annual Federal Tax Refresher (Currently Unavailable)

Author: Paul J. Winn

The Annual Federal Tax Refresher (AFTR) course is designed to meet the requirements of the IRS Annual Filing Season Certificate program. It discusses new tax law 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.

Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, new tax laws come into being that may significantly affect taxpayers' income tax liability. This course will examine many of those changes.

This course must be completed no later than December 31, 2015 in order to receive credit from the IRS. The final exam includes 100 questions and you have 3 hours to complete the final exam.

Publication Date: May 2015

Designed For
This course is designed for Tax Preparers. CPAs that take this course must check with their State Board of Accountancy if this course is acceptable CPE.

Topics Covered

• New tax law and recent updates for the upcoming filing season

Learning Objectives

• Apply the inflation-adjusted and other limits to the proper preparation of taxpayers' income tax returns
• Calculate taxpayers' additional tax liability resulting from the Medicare tax, net investment income tax and individual shared responsibility payment
• Recognize the federal income tax filing statuses and the criteria for their use
• Identify the types of income that must be recognized
• Apply the tax rules to the various credits and adjustments to income 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 e-file requirements that apply to tax return preparers

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (6 hours)

Program Prerequisites
None

Advance Preparation
None