* Updated 2023 *
Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various laws passed to address the financial consequences of the coronavirus pandemic significantly affect tax planning and may also affect taxpayers’ income tax liability. This course will examine many of those changes.
The Annual Tax Filing Season Update course discusses new tax law and recent updates for the 2023 filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.
Updates include the extension of the Nonbusiness Energy Property Credit through the end of 2022 as indicated in the Inflation Reduction Act.
CPE Course For:
CPAs in most states (chart)
Other Professionals (chart)
Not Valid For:
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Online Course Materials
Fully online PDF materials included in course.
Login to your course to read online / print / save to local drive
- Clickable table of contents
- Learning objectives--each section
- Review questions--each section
- Answers to review questions + explanations
- Glossary of terms used
- Worksheets, forms and examples
- Index with page numbers
* Fully searchable *
Fun CPE Course #: PWX1123
Materials: Online materials
Format: Interactive self-study
Subject: Federal Tax
Exam questions: Final-53 multiple choice
Document length: 135 pages
Passing score: 70% | Unlimited retakes
Advance prep: None
Course level: Overview
Last reviewed/updated: 01/01/23
Expiration: One year from enrollment
Upon completion of this course, you should be able to:
- Identify the principal individual income tax changes brought about by recent legislation;
- 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;
- Describe the current status of tax extenders;
- 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.