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 the preparation of amended returns.
The course begins by answering the basic question, "What is an amended return?" We go over fraud in filing taxes, nine key points to note when filing amended returns, and other key information the tax preparer should know when preparing a tax return. We also go over the reason for filing an amended return, when to expect the amended return to be processed, and begin to cover Form 1040-X in detail.
From there, we go through Form 1040-X line-by-line, going over each section, such as the calendar year information, the basic information (like the name, address, and SSN of the taxpayer), and detailed information on filing status.
After that, we go over lines 1-30 of Form 1040-X, going over each line and providing additional information to help the tax preparer in completing each line for the taxpayer. We also go through each of the three parts of Form 1040-X, explaining the purpose of each and how they should be completed.
The course is finished with information on the way the IRS collects taxes, and detailed coverage of installment agreements, including how to apply for and who is eligible for installment agreements.
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!