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Individual Tax Update (SMTX12/22)

Event Description

This course is essential for the tax practitioner who wants to update their knowledge of individual income taxation. This course will provide a comprehensive review of Form 1040 complexities for the 2021 tax year.  Included will be a thorough review of all tax codes made by the SECURE Act and the CARES Act.

CFP CE Approved

Enrolled Agent Approved

 

Designed For

CPAs and EAs, and other tax and financial professionals

Objectives

At the end of this class you will be able to: 

  • Recognize and complete IRS Form 1040 and other individual income tax returns for the 2021 tax season 

Major Subjects

  • Review of essential IRC Sections  
  • Review of individual changes made by any recent legislation  
  • New credits, deductions, and tax relief    
  • Income issues
  • Income and exclusions from cancellation of debt
  • Itemized deduction issues  
  • Health reform and medical issues
  • Special income tax treatment of COVID 19 stimulus payments
  • COVID – 19 related extensions, carryovers, and effect on loss rules
  • Maximum benefit from an office-at-home, education deductions and credits
  • Health insurance, HRAs, HSAs, Changes in the law by Congress
  • Kiddie tax