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Need more CPE credits? Get this course plus 12 months of unlimited self-study for just $499!

Surgents 2017 Annual Federal Tax Refresher Course (AFTR)

  • Format Self-Study Textbook
  • Credits 6
  • Level Basic
  • Field of Study Taxes (6)

$69.00


Overview

To earn the IRS’s Annual Filing Season Program record of completion, unenrolled tax preparers must complete this 6-hour course and pass a 100-question timed exam. Surgent has prepared this comprehensive course to cover in detail each of the three domains specified by the IRS: new tax law/recent updates, general review, and ethics, practices, and procedures.

Major Topics:

       
    • Annual inflation adjustments (new filing requirement threshold amounts; new personal exemption amounts; new standard deduction amounts)
    • Increase in repair regulation safe harbor amount
    • Summary of PATH Act of 2015 for individuals
    • Review of tax return due dates, including extensions
    • Determination of Filing Status (including same gender marriage)
    • Tax Related Identity Theft (Publication 5199)
    • ITINs
    • Claiming someone as a dependent
    • Taxability of wages, salaries, tips, and other earnings
    • Interest and Dividend income (taxable and non-taxable)
    • Schedule B, Part III Foreign Accounts and Trusts
    • Taxable refunds, credits, or offsets of state and local taxes
    • Unemployment Compensation
    • Self-employment income (Schedule C) and expenses
    • Reporting and taxability of Social Security benefits
    • Individual Retirement Accounts (IRAs), pensions, annuities (and associated penalties for early withdrawal)
    • Capital gains and losses (Schedule D and Form 8949)
    • Adjustments to income
    • Standard Deduction and Itemized Deductions
    • Overview of Schedule A deductions
    • Child and Dependent Care Credit
    • Education Credits
    • Retirement Savings Contribution Credit
    • Child Tax Credit and Additional Child Tax Credit
    • Affordable Care Act (ACA) provisions
    • Earned Income Tax Credit (EITC) (including eligibility rules)
    • Tax Withholding and estimated tax payments
    • Payment and refund options (including maximum of 3 deposits in one account)
    • Requirement to furnish taxpayer with a copy of a return and related penalty for not doing so
    • Requirement for signing the return as a return preparer and related penalty for not doing so
    • Requirement to furnish identifying number as return preparer and related penalty for not doing so
    • Requirement to retain copy of return or list and related penalty for not doing so
    • Prohibition on negotiation of client refund checks
    • Due diligence in preparing returns (e.g., appropriate use of Form 8867 Paid Preparer's Earned Income Credit Checklist)
    • Compliance with e-file procedures (e.g., timing of taxpayer signature, timing of filing, recordkeeping, prohibited filing with pay stub, proper handling of rejects)
    • Penalties for negligent or intentional disregard of rules and regulations, and for a willful understatement of liability
    • Annual Filing Season Program requirements
     

Learning Objectives

  • Understand pertinent information related to the preparation of tax returns during the 2017 filing season
  • Pass the Annual Federal Tax Refresher exam

Who should take this course:

Unenrolled tax preparers who wish to earn 6 hours of CE credit toward the AFSP record of completion (enrolled and credentialed tax preparers cannot earn credit from this course)

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