This course is specifically for Enrolled Agents that need to report to the IRS.

This mini-course examines key individual, business, retirement, and estate tax provisions recently enacted or indexed for inflation in an overview format that is easy to reference. The emphasis is on quick access to major tax changes having special meaning to the tax practitioner and return preparer. The course is a great resource and way for professionals and staff alike to easily get the “big chunks” and bring their professional knowledge up to speed.

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

• Tax brackets
• Tax credits
• Deductions
• Education credits
• Energy credits
• Retirement plan contribution and phaseout limits
• Gift and estate taxes

Learning Objectives

After reading the materials, participants will be able to:

1. Discuss the various issues related to individual income taxes by listing the income tax rates for the various tax brackets, quoting the AMT phaseout limits and contribution limits to HSAs, and explaining the how the various individual income tax credits work, including education and energy credits.
2. Identify and discuss the key business tax issues, including bonus depreciation, expensing, the NOL carryback period, standard mileage rates, work opportunity credit, and recent changes affecting S corporations.
3. Differentiate between the various retirement plans, including contribution limits and phaseout limits, and review estate taxes by citing trust income tax rates and explaining how to calculate interest on estate tax installments.
   After studying the materials, answer the exam questions 1 to 15.

Revision Date:  3/27/2024

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
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