Each year, income tax return preparation is affected by inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws. The 2027 Annual Tax Season Update course is based on the Annual Federal Tax Refresher course and is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients’ 2026 income. It does not, however, satisfy the Internal Revenue Service’s voluntary annual filing season program. The course a) examines new tax law and changes in various limits that reflect inflation, b) provides a general tax review, and c) discusses important rules governing tax return preparer ethics, practices and procedures. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 8 Hours Field of Study: Tax Delivery Method: QAS Self Study

Affordable Care Act: Employer Rights & Responsibilities reviews the principal provisions of the Affordable Care Act affecting employers and considers its tax impact on them. Thus, the course addresses the principal coverage provisions of the ACA affecting employers, the shared responsibility requirements and the tax credits for which a small employer may be eligible for providing employee health insurance coverage. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 4 Hours Field of Study: Tax Delivery Method: QAS Self Study

The Affordable Care Act – Individual Rights & Responsibilities reviews the principal provisions of the Affordable Care Act affecting individuals. It considers the coverage-related provisions of the law, the personal income tax changes affecting taxpayers and the tax credits authorized under the law. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 2 Hours Field of Study: Tax Delivery Method: QAS Self Study

Earned Income Credit examines the earned income credit rules, the common errors made in claiming the credit, the consequences of its disallowance by the IRS and the requirements imposed on tax return preparers for earned income credit due diligence. The course discusses the rules applicable to everyone, the rules applicable only to individuals with a qualifying child and the rules that apply only when the taxpayer has no qualifying child. The requirements for tax return preparer due diligence are examined and best practices are identified. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 3 Hours Field of Study: Tax Delivery Method: QAS Self Study

Education Tax Benefits examines the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual’s education. In so doing, it considers qualified tuition programs (QTPs), Coverdell education savings accounts (ESAs), the education savings bond program, federal tax credits for education, the federal tax treatment of scholarships, fellowships, grants and tuition reductions and the deduction available for student loan interest. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 4 Hours Field of Study: Tax Delivery Method: QAS Self Study

EITC Due Diligence summarizes the earned income credit rules, examines the common errors committed when claiming the credit, discusses the EIC due diligence requirements imposed on professional tax return preparers, and identifies the sanctions to which preparers and their employers may be subject for a failure to meet expected due diligence requirements. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 2 Hours Field of Study: Tax Delivery Method: QAS Self Study

Estate Tax Planning examines the various aspects of planning for the estate tax liability. The course begins with a discussion of the genesis of estate taxation in English common law and continues with an examination of the estate and its administration. The subjects discussed in the course are a) the estate and its administration, b) federal gift and estate taxes, c) common estate planning trusts, d) calculating federal estate taxes, e) state inheritance and estate taxation, and f) estate tax payment. The text serves as an introduction to the issues of estate settlement and includes a discussion of the probate estate and the federal gross estate. The steps taken to calculate federal estate tax liability are discussed. In that discussion, the federal gross estate, tentative taxable estate, taxable estate and tentative tax are examined. The various estate tax credits and deductions are considered and their place in the federal estate tax calculation is explained. The role of trusts in estate tax minimization is considered. The common trusts employed in estate tax planning are explained, and the uses of credit shelter trusts, QTIP trusts and irrevocable life insurance trusts are demonstrated. State death taxes are considered, and inheritance taxes are compared to estate taxes with respect to the party liable for payment and the role of decedent/beneficiary relationships in inheritance taxation. Finally, the traditional sources of estate tax payment are examined and compared. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 4 Hours Field of Study: Tax Delivery Method: QAS Self Study

Home Office Deduction examines the federal income tax deduction for business use of a home. It addresses the qualifications for a home office deduction and the actual expense and simplified methods of determining the deduction. In addition, it discusses the special home-office deduction rules applicable to daycare facilities and the recordkeeping requirements applicable to taking a home office deduction. It considers where the deduction should be taken and the forms a tax preparer should use in connection with the deduction. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 3 Hours Field of Study: Tax Delivery Method: QAS Self Study

According to a survey done by the Pew Research Center whose results were published in April 2023, 17% of Americans indicated they personally have invested in, traded or otherwise used virtual currency . Additionally, the number of people investing in or engaging in transactions involving virtual currency continue to increase. These statistics strongly suggest that tax preparers must be aware of the nature of virtual currency and its tax treatment. It's to provide that awareness that Tax Treatment of Virtual Currency was written. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 2 Hours Field of Study: Tax Delivery Method: QAS Self Study

This information is important for advisers who are counseling clients on the eligibility, taxation and other rules applicable to individual retirement accounts. Accordingly, the course provides information concerning the tax treatment of contributions, accumulations, transfers and distributions as well as the premature distribution penalties and required minimum distribution penalties that may apply. By fully understanding the rules applicable to various types of individual retirement accounts, advisers will be better able to meet their clients’ needs. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 5 hours Field of Study: Tax Delivery Method: QAS Self Study

The Tax Cuts and Jobs Act (TCJA) affects the tax planning and income tax liability for many taxpayers. Among those for whom the TCJA will have a more significant effect are business owners of pass-through trades or businesses who may be eligible for the TCJA’s pass-through deduction. The Section 199A Pass-Through Deduction course examines this deduction. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 4 Hours Field of Study: Tax Delivery Method: QAS Self Study

Tax Return Preparer Ethical Issues examines tax preparer conduct standards. It addresses the issues of confidentiality, accuracy, conflict of interest, taxpayer omissions and return of client records. The ethical rules governing these issues are discussed, and tax preparers are presented with real-world scenarios that focus on the ethical issues that may be encountered in their professional activities. Program Level: Basic No prerequisites or advanced preparation required. CPE Credits: 3 Hours Field of Study: Tax Delivery Method: QAS Self Study