24 Hour Course
Course ID: Package
Approved By: Internal Revenue Service (IRS)
This 24 hour Tax CE course will satisfy 24 hours of continuing education that enrolled agents are required to complete. Each enrolled agent must complete 72 hours of CE every three years, and at least 16 of these hours must earned each year, and two of them must be on the topic of ethics. This course will meet 24 hours of that requirement, including the ethics hours, leaving 48 hours of the 72-hour CE requirement to be completed.
This course will start by discussing Ethics for Tax Preparers. We’ll talk about what ethics are, why they matter, and how they apply in the practice of tax preparation. We’ll cover some ethical situations that you may run into, as a tax preparer, such as “frivolous anti-tax arguments”. We’ll also discuss the taxpayer Bill of Rights and the Code of Conduct you should abide by.
After that, we’ll cover federal filing requirements and dates. This includes choosing the right form to file, filing electronically, and receiving extensions. We’ll also go over income, expenses, refunds, and reporting this information.
Another topic we’ll address will be personal and dependent exemptions. We’ll talk about the difference between a qualifying relative and a qualifying child, who qualifies for these, and who can claim them.
Next, we’ll talk about standard and itemized deductions. This includes discussion of when the standard deduction should be used, and how to itemize medical and dental expenses. We’ll cover interest expense, various contributions, and expenses and losses that may apply to businesses as well as individuals. We’ll also look at the tax benefits that can apply to work-related education.
After that, we’ll move on to some important information about the taxation of rental income and expenses. We’ll spend some time talking about the taxation of retirement funds, such as pensions and annuities.
The last section of this course will focus on supplemental gains and losses. We’ll talk about how to handle business taxes, including employment taxes and accounting methods. We’ll look at some credits that be claimed to benefit a business owner, and how the disposition of business property affects one’s taxes.
This course includes periodic exams, to meet the IRS education requirement and ensure that you’re learning the information effectively.