The One Big Beautiful Bill Act
The One Big Beautiful Bill Act
Area: Tax Update
This self-study course offers a clear and practical review of H.R. 1, also known as the One Big Beautiful Bill Act or the Working Families Tax Cut Act. Participants will explore key provisions effective for 2025 and subsequent years, including the permanent extension of select Tax Cuts and Jobs Act (TCJA) measures. The course also examines new deductions, credits, and limitations affecting both individual and business taxpayers, providing insight into how these changes shape tax planning and compliance in the coming years.
Area: Federal Tax Law
Individual taxpayers may be eligible to deduct certain medical and dental expenses on their personal tax returns. This course provides tax preparers with a comprehensive overview of the rules governing these deductions. Topics include identifying qualifying expenses, understanding the thresholds for deduction, and accurately reporting these expenses on the appropriate IRS forms. By completing this course, preparers will be equipped to assist clients in maximizing their allowable medical deductions while ensuring compliance with current tax laws.
Area: Federal Tax Law
Area: Federal Tax Law
This course offers a practical introduction to estates and trusts by reviewing their fundamental differences and how these entities are established. Participants will explore the types of trusts, including a summary of special elections. Income tax implications for both estates and trusts will be discussed, along with the specific filing requirements of Form 1041, ensuring you're confident in applying these concepts in real-world tax scenarios.
Federal Income Tax Changes 2025
Federal Income Tax Changes 2025
Area: Tax Update
Each year, various limits relevant to income tax preparation and planning are updated. Some changes result from routine inflation indexing, while others stem from new legislation or the expiration of existing laws. For 2025, updates arise from inflation adjustments as well as legislation such as the SECURE Act 2.0 and H.R.1, An Act to Provide for Reconciliation, also knows as the "One Big Beautiful Bill". This course highlights the most impactful changes for tax professionals, with context provided to support practical understanding and application.
Gambling Winnings - Compliance and Reporting Considerations
Gambling Winnings - Compliance and Reporting Considerations
Area: Federal Tax Law
Sports gambling has raised the stakes with reporting and compliance considerations! This course provides an overview of recent changes in law impacting the gambling industry, gambling businesses or operators’ excise tax and information reporting requirements, and individual income tax reporting requirements for those that are either lucky or skilled enough to win.
Individual Taxpayer Identification Numbers (ITINs)
Individual Taxpayer Identification Numbers (ITINs)
Area: Federal Tax Law
Since the invention of the Individual Taxpayer Identification Number (ITIN) in 1996, millions of ITINs have been issued by the IRS. Many rules pertaining to ITINs have changed, but one certainty is that when tax preparers are knowledgeable about these rules, they can be a valuable resource for clients who are seeking to comply with federal tax law. This course provides an overview of the most important topics related to ITINs.
Area: Federal Tax Law
This self-study course thoroughly discusses state and local tax issues from the perspective of federal tax preparation, including Schedule A deductions for state and local taxes.
Area: Federal Tax Law
Gift Tax Reporting and Form 709
Gift Tax Reporting and Form 709
Area: Federal Tax Law
This on-demand webinar is designed for tax professionals seeking best practices for completing Form 709 in the tax planning process. Presented by Randy Adams, EA, MSA, and experienced tax preparation instructor since 2011, the session provides valuable insights into topics such as portability and when it can be used effectively, annual exclusion, and how to complete the different areas of Form 709 when it is needed. This webinar serves as a comprehensive guide for tax professionals who want a thorough understanding of managing assets regarding retirement accounts and gifting.
Unpaid Payroll Taxes: A Timebomb You Can Defuse
Unpaid Payroll Taxes: A Timebomb You Can Defuse
Area: Federal Tax Law
In this webinar, a retired IRS Criminal Investigation agent shares his insider perspective on the issue of unpaid payroll taxes and the serious implications it can have for your clients. We discuss the statutes guiding the collection of payroll taxes, the possible penalties for unpaid payroll taxes, and how you can help your clients resolve the issues.
Last Revision: February 2024
Employee Retention Tax Credit: From the Cares Act to the IRS Moratorium
Employee Retention Tax Credit: From the Cares Act to the IRS Moratorium
Area: Federal Tax Law
Why does the Employee Retention Tax Credit still matter? Two reasons. First, it has been a popular credit that still has implications for employers and taxpayers. Second? Ongoing scams and fraud, and the resulting IRS moratorium. This course provides an overview of the Employee Retention Tax Credit, and provides specific information on IRS efforts to stem the rise of fraud associated with the credit, including imposing a moratorium on ERTC claims, announcing settlement and withdrawal procedures, and the providing educational material on the credit.
Last Revision: April 2024
