Federally credentialed Enrolled Agents with the IRS must complete 72 hours of continuing education every 3 years to maintain their elite status. This course meets 2 of those hours and focuses on Part II of Schedule 1. Adjustments to income starts with recent changes to deducting alimony payments. Then, we'll cover the rules for alimony and education-related adjustments, namely the deductions for educators, student loan interest, and tuition and fees. We'll spend a good deal of time on the particulars of the tuition and fees deduction because of unique adjustments to the deduction itself.
Lastly, we'll spend some time reviewing the suspension of the moving expense deduction and related matters to the revised revenue procedure that enacted it. We'll also discuss the health savings account deduction, IRA deduction and related changes, self-employment adjustments, penalty on early withdrawal of savings, certain business expenses, and a few COVID-19 legislative effects.
After each lesson, agents will be asked a single question about the material. A brief exam may be asked to test comprehension.
Show Course ID: 0
- Approved By: Internal Revenue Service (IRS)
Jeremy Allen, CPA, was born and raised in Chicago, Illinois. He graduated with a Bachelor's of Science in Accounting from the University of Oregon Charles H. Lundquist College Of Business. He has been a licensed CPA in the state of Oregon since 2007. He specializes in Corporate Taxation and Planning. He enjoys working with start-up businesses, online businesses, and multi-state entities. He is an avid member of Crossfit Grants Pass. In his free time he enjoys traveling and camping with his family. Go Ducks!