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2022 Annual Tax Season UpdateCode: 22-TAXUP
Price: $79.00
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Course Details
141 pages
Course description and objectives:
Introduction to the Course
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 2021 Annual Tax Season Update course is designed to provide
valuable information to persons preparing individual 1040 income tax returns
reflecting clients' 2021 income. The Annual Tax Filing Season Update course
discusses new tax law and recent updates for the 2022 filing season, provides a
general tax review, and examines important rules governing tax return preparer
ethics, practices and procedures.
Course
Learning Objectives
Upon completion of this course, you should be able to:
- Identify the changes made to various requirements by the SECURE Act, including –
o
Traditional IRA contribution eligibility,
o
Traditional IRA and qualified plan lifetime required minimum distributions,
o
Qualified birth and adoption distributions,
o
Inherited IRA distribution requirements,
o
Taxation of a child’s unearned income,
o
Qualified Tuition Plan distributions, and
o
Deductions for unreimbursed medical expenses;
- Recognize the status of various tax extenders, including –
o
Reinstatement of the credit for nonbusiness
energy property;
o
Tuition and fees deduction;
o
Itemized deduction for mortgage insurance
premiums; and
o
Exclusion of cancellation of debt income from
qualified principal residence indebtedness;
- Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns;
- 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: 9 Hours
Program Level: Update
Prerequisites: None
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase

$79.00
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