Federal Income Tax Changes 2024

Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine the tax changes affecting the SECURE Act 2.0 and the inflation-changed limits effective for 2024 that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes. Last Revision: March 2024

$80.00
  

Prerequisites

Prerequisites are not necessary to participate in this course and no advance preparation is needed.

Course Description

Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law.

This course will examine:

  • the inflation-changed limits effective for 2024 that are most likely to affect your work as an income tax preparer,
  • changes to various tax credits,
  • retirement account changes, and
  • the tax changes taking effect in 2024 as a result of the SECURE Act 2.0.

After completing this course, you should be able to:

  • List the 2024 changes in various amounts for items such as mileage rates, standard deductions, other deductions, exemptions, and expenses.
  • Identify the 2024 changes affecting tax credits such as the Child Tax Credit and the EITC.
  • Recognize the 2024 changes affecting specialized accounts such as HSAs and IRAs.
  • List the changes effective for 2024 with respect to employer tax credits and mandates. 
  • Determine the changes to retirement plans resulting from the Secure Act 2.0 that affect income tax preparation.

CPE Facts

Affiliation* CPE Awarded Delivery Method Field of Study Course ID Sponsor ID
NASBA 5 Self-Study Taxes N/A 103137
CTEC 5/0 Self-Study Federal Tax Update 3038-CE-0367 3038
IRS 5 Self-Study Federal Tax Update FQTGU-U-00680-24 -S FQTGU
Texas State Board of Accountancy 5 Self-Study Taxes 100450 002921
Pennsylvania State Board of Public Accountancy 2.5 Self-Study (Non-Interactive) Taxes N/A

* Individuals with other professional credentials should check with their state licensing board or accrediting organization to determine if this program meets their continuing education requirements.

Other Details
Last Revision March 2024
Course Expiration The CPE portion of this course expires one year from date of purchase
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