Self-Study

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.

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. This course examines the significant tax updates for 2024–2025, including those introduced by the SECURE Act 2.0 and key inflation-adjusted limits. Context is provided where appropriate to help tax professionals understand the practical implications of these changes in their work.

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.

The rules for partnerships are complex and taxpayers and practitioners must plan carefully to avoid potential pitfalls, both for the partnership and for the individual partners. Partnerships must report income and expenses annually on Form 1065 and related forms. This course provides an overview of Form 1065 and the rules for partnerships.

Last Revision: December 2023

How does the IRS define a corporation? What should tax professionals know about Form 1120? This course covers basic definitions and terms regarding corporations, the tax implications of corporate structures, and how to prepare Form 1120 and related forms.

Last Revision: January 2024

What makes an S Corp different from other business structures? What are the tax implications and what should tax preparers know about Form 1120? This course covers basic definitions and terms regarding S corporations and how to prepare Form 1120-S and related forms.

Last Revision: January 2024

2 CPE credits.

Last Revision: March 2024

What is community property? Why is identifying community property important when preparing tax returns? This self-study course is a detailed discussion of the connection between community property and federal tax law. Revision Date: March 2024

Last Revision: March 2024