2026 Debt – Selected Debt Related Issues

Description

EAs and Other Tax Preparers, after passing the exam you MUST click on the link “GET YOUR CERTIFICATE” to have your hours reported to the IRS. 

This mini-course brings the practitioner information on tax issues affecting interest and debt. The various types of interest and their required allocation are explored and reviewed. For the economically troubled client, special attention is devoted to debt cancellation, repossession, discounts, and foreclosure. The program also discusses installment sales, taxable interest, and bad debts.

Learning Objectives
Upon completion of this course, you will be able to:
1. Determine whether the various types of interest are tax deductible or nondeductible and cite the imputed interest rules in the context of debt instruments.
2. Identify the interest allocation rules and the allocation period for a loan and recognize the allocation of loan proceeds that are deposited in an account.
3. Determine the tax treatment of interest that is earned on such items as income on frozen deposits and U.S. Savings Bonds.
4. Recognize what constitutes the installment method, specify the parts of each payment on an installment sale, and cite the consequences of pledging installment obligations.
5. Identify exceptions to the general income inclusion rule and specify bad debt categories, specifying the impact of nonbusiness bad debt recovery.

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. Clicking on the Certificate link will show the course as 100% Complete

A course evaluation form is provided for your feedback and participants have 1 year from the date of purchase/enrollment to complete this course. .

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/