This course is essential for the tax practitioner who wants to update their knowledge of individual income taxation. This course will provide a comprehensive review of Form 1040 complexities. Updates for tax legislation passed in late 2012 and in 2013 along with many important topics that impact clients in these difficult times will be discussed during the lecture.
Course ID: FITU
Federal Individual Income Tax Update
- To provide participants with both an update and instruction so that the participants will have the necessary knowledge to complete IRS Form 1040s for the 2013 season.
- Review of essential IRC Sections
- New credits, deductions and tax relief for 2013
- Revised education credits and benefits
- New energy credits
- Alternative Minimum Tax legislation and other extenders
- IRS collection issues and lien relief
- Reporting fraud losses and repayment of fraudulent gains
- Online sellers and bartering
- Alternatives for required minimum distributions in 2013
- Income and exclusions from cancellation of debt
- Reporting foreclosures or repossessions of residences and other real estate