2020 Annual Federal Tax RefresherCode: 20-AFTR

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Course Details

108 pages
Course description and objectives:

This course is for non-exempt tax preparers (who are not CPAs or EAs). It is designed according to IRS regulations and includes a 3-hour timed final exam.

If you are a CPA or an EA, we recommend you take the 2020 Annual Tax Season Update instead!

If you are NOT a CPA,  EA, Attorney or another Non-Exempt preparer, we recommend you consider doing American CPE's AFSP program to earn a certificate from the IRS here.

Each year, income tax return preparation must take into account inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws. The 2019 Annual Tax Season Update course is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients' 2018 income. The course a) examines the Tax Cuts and Jobs Act of 2017 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.

The 2020 Annual Federal Tax Refresher course is designed for non-CPAs and non-EAs to meet the requirements of the IRS Annual Filing Season program. It discusses new tax law and recent updates for the upcoming filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.

Note: The final exam for this course is a 3-hour timed online exam wtih 100 questions. Two attempts are allowed to pass with a score of at least 70%. After two attempts, a different exam is presented for two additional attempts to pass.

This course is not intended for CPAs or EAs but is instead part of the requirements for non-CPAs and non-EAs to qualify for the IRS's Annual Filing Season Continuing Education Requirements. The course will not count toward Enrolled Agents' continuing education requirements although CPAs will receive the indicated credit toward their state continuing education requirements.

Learning Objectives

Upon completion of this course, a tax return preparer should be able to:

  • Identify the principal individual income tax changes brought about by the Tax Cuts and Jobs Act of 2017;
  • Apply the inflation-adjusted and other limits to the proper preparation of taxpayers' income tax returns;
  • Calculate nonexempt taxpayers' tax penalty under the Affordable Care Act for failure to maintain healthcare coverage;
  • Recognize the federal income tax filing statuses and the criteria for their use;
  • Identify the types of income that must be recognized;
  • Apply the tax rules to the various credits and adjustments to income that are available to taxpayers;
  • Recognize the penalties that may be imposed on a preparer for failing to meet ethical and practice standards in preparing tax returns; and
  • Identify the duties and restrictions imposed on tax preparers under Circular 230.

Presentation Method: QAS Self-Study

Category: Taxation

CPE credit: 6 Hours

Program Level: Update

Prerequisites: None

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading by December 31, 2019 for this course.

For more information regarding refunds, complaints, or cancellation policies, please contact our offices at 817-477-0222.

IRSIRS Sponsor # H5T3F

 American CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

NASBA Sponsor number 108096


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