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This course is designed for tax professionals seeking to understand and navigate the IRS collection process effectively. Participants will gain in-depth knowledge of the various collection methods employed by the IRS, including liens, levies and wage garnishments. Additionally, participants will learn strategies to avoid or halt collection actions and the implications of the statute of limitations on tax collection.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This course provides a focused analysis of the individual and small business provisions in H.R.1, “One Big Beautiful Bill.” Tailored for tax professionals working with Form 1040 filers, the course explores impactful updates, from the no-tax-on-tips provision to enhanced bonus depreciation. Designed to inform planning strategies and compliance for the 2025 tax year and beyond. Participants will gain actionable insight into newly proposed deductions and expanded credits.To complete this course participants need to: View the video and complete an assessment exam with a minimum passing grade of 70% or higher.Upon course completion a course evaluation form is provided for your feedback.CPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This course provides a focused analysis of the individual and small business provisions in H.R.1, “One Big Beautiful Bill.” Tailored for tax professionals working with Form 1040 filers, the course explores impactful updates, from the no-tax-on-tips provision to enhanced bonus depreciation. Designed to inform planning strategies and compliance for the 2025 tax year and beyond. Participants will gain actionable insight into newly proposed deductions and expanded credits.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion A course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This seminar examines recent events involving the theft of company or public money and the circumstances that allowed the fraud to occur. We will be looking at a variety of case studies to illustrate these points. This course is ideal for CPAs, government finance personnel, all Internal Auditors, lawyers, governance professionals, accountants and human resource personnel.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This seminar offers a practical and in-depth exploration of IRS Schedule K-1, a critical reporting document issued to taxpayers with interests in pass-through entities such as Partnerships, S Corporations, and Estates or Trusts. Participants will gain a clear understanding of how to interpret and accurately report Schedule K-1 data on Form 1040, with emphasis on common income, deduction, and credit items. The course also demystifies the Qualified Business Income (QBI) Deduction, including eligibility criteria, reporting mechanics, and integration with K-1 data. Key compliance topics—such as basis and loss limitations, material participation rules, and passive activity considerations—will be addressed through practical examples. In addition, attendees will be briefed on recent developments affecting Schedules K-2 and K-3, ensuring they are equipped to navigate evolving international reporting requirements.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund Policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This course discusses the tax law as currently writen with the expiration of the TCJA. As we all know the TCJA is set to expire this year, and with no tax bill in place (to replace or extend) it will revert back to previous tax law prior to the TCJA (2017 Tax Law). So what does this mean for your client, as death inheritance will revert to a lower tax exempt amount, individual and business tax rates will increase, child care credit will drop, EIC individual and joint earninngs for qualification will decrease, and of course the Standard deduction will decrease as well. There is time between now and December, a new bill may be introduced and possibly passed however, you may want to advise your clients for the best next step forward and how best to advise them.Learning Objectives:State the pre TCJA Estate and Gift Tax exemptionsIdentify pre TCJA individual and business Tax RatesState the Pre TCJA EICIdentify Pre TCJA Child Tax CreditState the changes to itemized deductions and standard deductions Pre TCJATo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirementsUpon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org | |
This mini-course examines key individual, business, retirement, and estate tax provisions recently enacted or indexed for inflation in an overview format that is easy to reference. The emphasis is on quick access to major tax changes having special meaning to the tax practitioner and return preparer. The course is a great resource and a way for professionals and staff alike to easily get the “big chunks” and bring their professional knowledge up to speed.As a result of studying the assigned materials, you should be able to meet the objectives listed below.ASSIGNMENTAt the start of the materials, participants should identify the following topics for study:* Tax brackets* Tax credits* Deductions* Education credits* Business deductions & credits* Retirement plan contribution and phaseout limitsLearning ObjectivesAfter reading the materials, participants will be able to:1. Recognize the various issues affected by inflation and recent tax law developments especially as they relate to individual tax brackets, exemptions & deductions, the AMT, the child tax credit, alimony, HSAs, education plans, and energy credits.2. Determine the key business tax issues affected by inflation adjustments and recent legislative changes, including corporate tax rates, entertainment expenses, tax credits & deductions, bonus depreciation, expensing, standard mileage rates, employment taxation, low-income housing tax credit, §1031 exchange property, partnership taxation, insurance deductions, excessive compensation, and investment income.3. Specify differences between various retirement plans, including inflation-adjusted contribution limits and phaseout limits, and determine estate taxes by identifying trust income tax rates and determining applicable exclusion amounts.After studying the materials, answer exam questions 1 to 30.To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.Upon course completion A course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
The new pass-through LB&I field operations unit will boost audits of pass-through entities, including partnerships, S-corporations and trusts. The IRS also established the new IRS associate office focused on partnerships, S- corporations, trusts and estates. A recent GAO study recommended strengthening audit processes for large partnerships.While the number of large partnerships increased almost 600% from 2002 to 2019, only 54 of the 20,000 large partnership returns filed in 2019 were audited, for a 0.3% audit rate. Decreased from 1.4% in 2007. The IRS has announced that it will be auditing a larger percentage of partnership returns in the future. The IRS will also be challenging certain partnership related-party transactions under the codified economic substance doctrine in § 7701(o).During this course through case law / case study will discuss IRS Procedure, Conservation Easements, Other Partnership Issues, S Corporations, Economic Substance, Tax Equity and Fiscal Responsibility Act (TEFRA), Profits Interest VS. Capital Interest, and SEC. 754.Learning Objectives1. Become familiar with recent court cases and Treasury publications affecting individuals and business entities.2. Acquire a working knowledge of recent changes to IRS procedure.3. Become conversant of recently issued tax court opinions and their implications to taxpayers.4. Know the status of upcoming tax legislation and how it might affect clients.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org | |
Cryptocurrency - defined as "any digital representation of value that is recorded on a cryptographically secured distributed ledger or any similar technology." Cryptocurrency and NFTs are the most common digital assets with an estimated $2 Billion having been donated as of January 2024. Additionally, the majority of the top US charities accept cryptocurrency donations (56% of the top 100) as of January 2024 with two-thirds of these top crypto enabled nonprofits aren’t just accepting crypto, but are actively fundraising it. This course will discuss traps and pitfalls the unwary often fall victim of.Topics include:Cryptocurrency backgroundClassifying CryptocurrencyNon-fungible tokensPlanning ideasGifts to individualsLimitations on gifts to charitiesContribution of assets with built-in gainTestamentary giftsSec. 170(f)(11): Qualified appraisal and other documentation for certain contributionsOther issuesReporting cryptocurrencyReporting of digital assetsLearning ObjectivesBy the end of the course, the participant should be able to:1. Discuss what constitutes digital assets.2. Determine the differences between cryptocurrency and NFTs.3. Be able to identify the IRS forms needed to report digital asset contributions.4. Understand how to properly establish the value of the contribution.5. Know the differences in required substantiation based on the amount of the contribution.6. Understand the latest rulings by the Treasury Department and courts on these contributions.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org | |
Description: This course presents an overview of blockchain and the tax implication of cryptocurrency transactions. The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps for the unwary.Who should Attend: This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses that use or invest in cryptocurrency. All in-house and public practice professionals involved with tax compliance and planning will benefit from this timely and insightful seminar.Program Content:· Blockchain basics· Classification of cryptocurrency· IRS Notice 2014-12· Tax implications of airdrops, mining, hard forks, margin trading, purchasing of goods or services with cryptocurrency.· Gift tax rules for donating, gifting or bequeathing cryptocurrency.· Traps for the unwary.Learning objectives: By the end of the course, the participant should be able to:1. Discuss what constitutes blockchain and the various types of cryptocurrency it supports.2. Determine whether a cryptocurrency transaction creates a taxable event.3. Be able to identify the IRS forms needed to report cryptocurrency transactions.4. Develop a working knowledge of possible reports due to other regulatory agencies.5. Discuss the traps that cryptocurrency traders can encounter which could unexpectedly increase the trader’s tax liability.6. Become knowledgeable of current enforcement actions employed by the IRS.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
Congress is on the cusp of passing the most consequential tax legislation in many years and the well-informed tax practitioner will want to stay abreast of these developments! This course will start with a short overview of the legislative process that is taken by the House and the Senate before the bill is ready to be signed by the President. We will then review the provisions in the House bill passed on May 22, 2025, with predictions on possible changes being made once it has been considered by the Senate.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This course equips tax professionals with the knowledge and strategies needed to handle the most common IRS letters, including general notices, audit requests, collections, return inquiries, and error notices. Participants will learn how to interpret IRS correspondence, adhere to response deadlines, and effectively communicate with the IRS to resolve issues and minimize risks. The session also highlights best practices for ensuring compliance and avoiding penalties or escalation, empowering attendees to navigate IRS correspondence with confidence.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This course covers the authoritative GAAP for construction contractors as found in FASB ASC 910 along with the guidance contained in the AICPA Guide for Construction Contractors. In this course, Jeff will cover the unique aspects of accounting in the construction industry and how the standards and guidance address those issues.The course will also include many examples to aid in understanding. In addition to the exceptional material, Jeff will include his signature video parodies, which are designed to keep you awake and reinforce the material.Learning Objectives:Upon successful completion of this course, the participant should be able to:Describe key issue related to construction accountingApply revenue recognition for construction contracts using POCApply revenue recognition for construction contracts using CCMApply the standards for contract modificationsDescribe the issues related to contract costs and allocationApply the provisions for various difficult issuesTo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund Policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
Accounting is a man-made science, built on principles that require a consistent framework to ensure comparability and reliability in practice. This course introduces participants to the FASB Conceptual Framework, which serves not only as the foundation for developing accounting standards but also as a guide for applying sound judgment in practice.Jeff Sailor will cover the key elements of the framework, focusing on recognition, measurement, qualitative characteristics, and disclosure requirements. The course will draw on all eight chapters of Statement of Financial Accounting Concepts (Concept 8), bringing clarity to how the framework supports financial reporting. Jeff’s signature video parodies will also be featured, offering memorable reinforcement of the material.Learning Objectives:At the end of this course, you will be able to:• Describe the structure and purpose of the FASB Conceptual Framework.• Identify the primary qualitative characteristics of financial information.• Apply the requirements for recognition and derecognition of financial elements.• Apply concepts for measurement within financial reporting.• Describe the criteria for footnote disclosures.• Explain the role of concepts in guiding standard-setting.• Analyze how the framework supports consistency and comparability in reporting..• Evaluate the usefulness of the framework when exercising professional judgment.Major Topics:• Purpose and structure of the FASB Conceptual Framework• Recognition and derecognition criteria• Measurement concepts and approaches• Qualitative characteristics of useful financial information• Elements of financial statements• Footnote disclosure requirements• Relationship between the framework and standard-setting• Practical application of the framework in accounting decisionsTo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund Policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
Metrics play a critical role in evaluating business performance, guiding financial decisions, and supporting effective advising. This course introduces participants to the most common and valuable ratios and key performance indicators (KPIs) used by CFOs, Controllers, and CPA advisors. Organized by category, the material highlights how these tools provide insight into financial health, liquidity, profitability, and operational effectiveness.Participants will see practical examples of how metrics are applied, ensuring they can not only calculate but also interpret results for real-world use. Instructor Jeff Sailor enhances the session with his signature video parodies, adding an engaging element that helps reinforce complex concepts in a memorable way.Learning Objectives:At the end of this course, you will be able to:• Differentiate between ratios and KPIs.• Explain the purpose and value of ratios in financial analysis.• Explain the purpose and value of KPIs in business performance evaluation.• Apply balance sheet metrics to assess financial position.• Apply cash flow and liquidity metrics to evaluate short-term viability.• Apply profitability metrics to measure financial success.• Apply operational metrics to assess efficiency.• Interpret results of key metrics for decision-making.Major Topics:• Ratios vs. KPIs• Categories of financial and operational metrics• Balance sheet metrics and financial position analysis• Cash flow and liquidity metrics• Profitability metrics for business success• Operational metrics for efficiency and effectiveness• Risk management in client planning• Practical examples and applications of metricsTo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund Policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This course covers a broad range of topics all involving uncertainties in accounting and auditing. It discusses the accounting standards for Going Concern, Contingencies, Guarantees, and Credit Losses. It also covers the audit standards related to auditing accounting estimates and considering going concern.In addition to the exceptional material, Jeff will include his signature video parodies, which are designed to keep you awake and reinforce the material.Learning Objectives:Upon successful completion of this course, the participant should be able to:Apply the requirements of SAS 132- Going ConcernApply the requirements of SAS 143- EstimatesApply the accounting requirements related to loss and gain contingenciesApply the requirements for guaranteesApply the requirements for credit lossesTo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.orgOur Refund Policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
More and more practitioners are expanding their practices by offering retirement planning advisory services. This course focuses on a variety of issues dealing with IRAs and qualified retirement plans. When practitioners understand the advantages and disadvantages of IRAs and qualified retirement plans, as well as the tax implications and designs of these plans, they are better equipped to meet their clients’ needs.Objective:At the end of this course, you will be able to: Define the different IRAs Recognize SEPs, qualified plans, and contribution plans List 401(k) plans Compare plans Identify minimum distribution rulesHighlights: Regular IRAs Roth IRAs Coverdell Education Savings Accounts SIMPLE IRAs SEPs Basics of qualified plans Defined benefit pension plans Defined contribution plans 401(k) plans, including Roth 401(k)s Choosing the best plan for each client Minimum distribution rulesTo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements and participate for 150 minutes.Upon course completion a course evaluation form is provided for your feedback.Participants have 1 year from the date of purchase/enrollment to complete this courseCPE Prime 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org | |
Each year, various limits impacting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various new tax laws may be passed. This course will examine many of those changes.The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS voluntary 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.In organizing this course, the term "domain" is used in place of the more common "chapter" to more closely follow the language of the IRS Annual Federal Tax Refresher course outline. Special Note: This course is intended for Other Tax Return Preparers (OTRP’s) only!!No credit will be accepted by the IRS for CPA’s and Enrolled Agents as this course is considered below their basic education level and thereby will not be reported to the IRS. For more information about the Annual Filing Season Program please Visit https://www.irs.gov/tax-professionals/general-requirements-for-the-annual-filing-season-program-record-of-completion To complete this course participants need to: Complete the Exam with a passing grade of 70% or higher. You have 3 hours to complete the exam and 2 attempts. This course must be completed by midnight 31 December 2025. Upon course completion a course evaluation form is provided for your feedback.Our refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
Each year, various limits impacting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various new tax laws may be passed. This course will examine many of those changes.The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS voluntary 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.In organizing this course, the term "domain" is used in place of the more common "chapter" to more closely follow the language of the IRS Annual Federal Tax Refresher course outline. Special Note: This course is intended for Other Tax Return Preparers (OTRP’s) only!!No credit will be accepted by the IRS for CPA’s and Enrolled Agents as this course is considered below their basic education level and thereby will not be reported to the IRS. For more information about the Annual Filing Season Program please Visit https://www.irs.gov/tax-professionals/general-requirements-for-the-annual-filing-season-program-record-of-completion To complete this course participants need to: Complete the Exam with a passing grade of 70% or higher. You have 3 hours to complete the exam and 2 attempts. This course must be completed by midnight 31 December 2025.Upon course completion a course evaluation form is provided for your feedback.Our refund policy can be found at: https://cpeprime.com/cancellation-and-refund/ | |
This advanced course builds on the foundational principles introduced in Fundamentals of the 1040 – Core Concepts, guiding participants into the complexities of business income taxation and expanded reporting requirements. Learners will gain practical skills for accurately reporting self-employment income and pass-through entity activity on Form 1040. Income and expense reporting on Schedule C and Schedule E will be covered as well as the integration of essential forms such as Form 7203 (S corporation shareholder basis) and Form 7217 (Partnership basis tracking). Designed for tax professionals seeking deeper proficiency, this course equips participants to confidently prepare returns for clients engaged in sole proprietorships, partnerships, and S corporations. Legislative updates impacting business filers will be covered.Learning ObjectivesUpon completion of this course, the learner will be able to:• Analyze Schedule C to determine business income, deductions, and self-employment tax implications• Interpret Form 7203 to determine shareholder stock and debt basis for S corporation shareholders• Analyze and apply the reporting requirements of IRS Form 7217, including determining a partner’s basis in distributed property• Calculate self-employment tax and apply deductions related to business expenses• Implement preparer best practices to avoid common IRS audit triggers• Understand key deductions and credits for business ownersTo complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.Participants have 1 year from the date of purchase/enrollment to complete this courseOur Refund Policy can be found at: https://cpeprime.com/cancellation-and-refund/ |