Course Description
Accounting for income taxes is one of the more challenging topics of financial accounting. Corporations must file income tax return following the guidelines developed by the IRS.  Because GAAP and tax regulations differ in a number of ways, so frequently do pretax financial income and taxable income. Hence, the amount that a company reports as tax expense will differ from the amount of taxes payable to the IRS.  Those differences produce a complex accounting standard.
This course is designed to help you navigate the complexities of this topic. It covers the accounting and financial reporting requirements for income taxes discussed in ASC 740 Income Taxes. It addresses the basic principles such as the asset and liability method, assessment for uncertain tax positions, and the effect of temporary differences.  It explains the process of accounting for income taxes, including valuation allowance, asset acquisition, intraperiod allocations, and interim reporting. It describes presentation and disclosure requirements. It also provides specific examples to illustrate the application. Relevant references to and excerpts from ASC 740 are discussed throughout the course.

Learning Objectives
After studying this course, you will be able to:
1.    Recognize the basic principles of accounting for income taxes
2.    Identify recognition and measurement requirements for uncertain tax positions
3.    Recognize temporary differences and identify how these differences may arise
4.    Distinguish between permanent and temporary differences
5.    Identify method for computing deferred taxes
6.    Recognize basic rules for income taxes in interim reporting
7.    Recognize the reporting requirements for income taxes

Field of Study    Accounting
Level of Knowledge    Intermediate
Prerequisite    Understanding of GAAP
Advanced Preparation    None
CPE    6

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Tax resolution means providing solutions to businesses and individuals alike who find themselves in trouble with the IRS. To resolve tax matters with the IRS, the IRS’ Offer in Compromise (OIC) program encourages delinquent taxpayers to settle their back taxes—-often for pennies on the dollar. This course covers other options to explore. The areas to be covered are: Offers in Compromise, Wage Garnishments, Bankruptcy, Installment, Delinquent Tax Returns, IRS Bank Levies, Freedom of Information Requests, IRS Payment Plans, Payroll Tax Problems, IRS Audits, Penalty Abatement, Liens, Collection Appeals, IRS Appeals, Innocent Spouse and Expiration of Statutes.  The course also contains step-by-step information needed in order to prepare a complete and accurate Offer in Compromise (Form 656) (rev. 2-2007), 433-A (rev. 1-2008), and 433-B (rev. 1-2008). The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) is summarized. This course can help hundreds of individuals and business with their IRS collection problems.

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Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Introduction

The Tax Cuts and Jobs Act of forms the current foundation of the US tax code. The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This is an updated course for 2021 that will provide a thorough review of the Business Tax Reform portion of the Tax Cuts and Jobs Act Bill (H.R.1.) as well as any changes for the 2021 tax yar. Part 1 of this course will provide a summary description of all provisions referenced in the Business Tax Reform section of the Tax Cuts and Jobs Act. It will identify which sections changed when the tax law was enacted in 2018 and which were updated for 2021. Each provision will reference a more detailed description of the provision in Part 2 of this course. The detailed description will review the pre-2018 law, provide a detailed description of the changes for 2018 and identify the effective date that the provision became effective.

Learning Objectives

At the end of this course, students will be able to:

• Review the Business Tax Reform provisions and identify the provisions that have been changed, the provisions that were not changed, and those that were updated for 2021;

• Identify the modified corporate tax rates for tax years beginning after December 31, 2017;

• Recognize the new charitable contribution rules that apply to corporations;

• Identify where to find more information about each provision in part 2 of this course; and

• Identify the effective date for all provisions in the Tax Cuts and Jobs Act.

CPE Credit: 13 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal tax code.

Advanced Preparation: None

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Introduction

The Tax Cuts and Jobs Act of forms the current foundation of the US tax code. The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This is an updated course for 2021 that will provide a thorough review of the Individual Tax Reform section of the Tax Cuts and Jobs Act Bill (H.R.1.) as well as any changes for the 2021 tax yar. Part 1 of this course will provide a summary description of all provisions referenced in Individual Tax Reform section of the Tax Cuts and Jobs Act. It will identify which sections changed for 2018 and which were updated for 2021. Each provision will reference a more detailed description of the provision in Part 2 of this course. The detailed description will review the pre-2018 law, provide a detailed description of the changes for 2018 and identify the effective date that the provision became effective.

Learning Objectives

At the end of this course, students will be able to:

• Review the Individual Tax Reforms provisions and identify which sections changed for 2018 and which were updated for 2021;

• Recognize the tax rate changes for the four types of individual taxpayers

• Recognize the new standard deduction amounts for the four types of individual taxpayers

• Identify where to find more information about each provision in part 2 of this course; and

• Identify the effective date for all individual tax provisions in the Tax Cuts and Jobs Act.

CPE Credit: 8 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal tax code.

Advanced Preparation: None

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Introduction

The Tax Cuts and Jobs Act of forms the current foundation of the US tax code. The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This is an updated course for 2021 that will provide a thorough review of all four portions of the Tax Cuts and Jobs Act Bill (H.R.1.) as well as any changes for the 2021 tax yar. Part 1 of this course will provide a summary description of all provisions referenced in the Tax Cuts and Jobs Act for each of the primary sections. It will identify which sections changed for 2018 and which were updated for 2021. Each provision will reference a more detailed description of the provision in Part 2 of this course. The detailed description will review the pre-2018 law, provide a detailed description of the changes for 2018 and identify the effective date that the provision became effective.

Learning Objectives

At the end of this course, students will be able to:

• Review the Individual Tax Reform provisions and identify which sections changed for 2018 and which were updated for 2021;

• Review the Business Tax Reform provisions and identify which sections changed for 2018 and which were updated for 2021;

• Review the Exempt Organizations provisions and identify which sections changed for 2018 and which were updated for 2021;

• Review the International Tax provisions and identify which sections changed for 2018 and which were updated for 2021.

• Identify where to find more information about each provision in part 2 of this course; and

• Identify the effective dates for all provisions in the Tax Cuts and Jobs Act.

CPE Credit: 30 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal tax code.

Advanced Preparation: None

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Introduction

The Tax Cuts and Jobs Act of forms the current foundation of the US tax code. The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This is an updated course for 2021 that will provide a quick review of all four portions of the Tax Cuts and Jobs Act Bill (H.R.1.) and it also includes the provisions that have changed for 2021. This course will provide a summary description of all provisions referenced in the Tax Cuts and Jobs Act for each of the primary sections. It will identify which sections changed for 2018 and which were updated for 2021.

Learning Objectives

At the end of this course, students will be able to:

• Review the Individual Tax Reform provisions and identify which sections changed for 2018 and which were updated for 2021;

• Review the Business Tax Reform provisions and identify which sections changed for 2018 and which were updated for 2021;

• Review the Exempt Organizations provisions and identify which sections changed for 2018 and which were updated for 2021;

• Review the International Tax provisions and identify which sections changed for 2018 and which were updated for 2021; and

• Identify the effective dates for all provisions in the Tax Cuts and Jobs Act.

CPE Credit: 3 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal tax code.

Advanced Preparation: None

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Course description and objectives: Designed to make the practitioner comforta-ble with “high traffic” issues, this program enables participants to discuss and handle individual tax essentials. The course examines and explains the practical aspects of return preparation and individual planning, bridging the gap between theory and application. Significant new developments are summarized with em-phasis on tax savings ideas. Practical applications and illustrations are used to systematically explore tax deferral, reduction, and elimination opportunities ac-companying return preparation. For example, the analysis of gross income is dis-cussed together with income splitting techniques; property transactions are ex-amined alongside like-kind exchanges and involuntary conversions. The result is an extraordinary blend of the latest developments affecting individual returns and their related planning ideas.

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provid-ed.

Course Level: Overview. This program is appropriate for professionals at all or-ganizational levels.

Field of Study: Taxes

Prerequisite: General understanding of federal income taxation.

Advanced Preparation: None

Passing Percentage: 70%

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Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies