Event Description

Stay ahead in the ever-evolving world of tax regulations with this course designed for tax practitioners. Dive deep into the complexities of Form 1040 and review the latest tax legislation. Learn about new credits and deductions, understand income exclusions, and gain practical insights for optimizing benefits for your clients.

Designed For

This course is ideal for CPAs, EAs, and tax and financial professionals looking to update their knowledge of individual income taxation and its recent legislative changes.

Objectives

• Recognize and accurately complete IRS Form 1040 and other individual income tax returns.
• Analyze recent legislative changes impacting individual income tax.
• Identify new credits, deductions, and tax relief available for taxpayers.
• Explain income and exclusions related to cancellation of debt.
• Interpret health reform and medical issues affecting taxation.
• Implement strategies for maximizing benefits from home office deductions and education credits.

Major Subjects

• Essential IRC Sections
• Recent legislation changes
• New credits, deductions, and tax relief
• Clarity on income and exclusions
• Insights into itemized deductions
• COVID-19 stimulus specifics
• Pandemic-related tax extensions
• Strategies for maximizing home office benefits
• Updates on health insurance laws
• Understanding the Kiddie tax