Annual Federal Tax Refresher (AFTR)

The purpose of this course is to provide tax professionals with a review of core tax topics. This includes instruction on newly enacted tax laws and updates to existing tax policy. The course is broken into three domains that each cover a different set of topics:

• Domain 1 is primarily concerned with new tax laws and the important updates to the existing code. Topics addressed in Domain 1 include the annual adjustments that account for changes in inflation and cost of living, changes to the regulation of individual retirement arrangements (IRAs), the new standard mileage rate, third party network transactions and the use of Form 1099-K, the Direct File program, and SECURE Act 2.0.
• Domain 2 is the longest portion of the course and talks about common tax forms. This portion of the course looks at a number of topics including Schedule B, reporting and taxability of retirement income, taxability of unemployment compensation, Schedule C, Schedule D, itemized deductions, and tax credits.
• Domain 3 deals with the practices, procedures, and professional Responsibilities of tax preparers. Topics covered in this portion of the course include protecting taxpayer information, due diligence, and penalties for negligent and unprofessional behavior.

After the conclusion of the course, students will complete a 100 question final exam designed to promote comprehension and retention of the course materials. Students will have 180 minutes to complete the exam. A 70% is required to pass. However, students can attempt the exam twice.

Course Format: Text

Credit Type: Annual Federal Tax Law Refresher

Course ID(s): UUBXU-A-00089-26-S

Approved By: International Revenue Service (IRS)