2021 Federal Tax Update for Individuals
Author: Bradley Burnett
| CPE Credit: |
8 hours for CPAs
8 hours Federal Tax Law Updates for EAs and OTRPs
8 hours Federal Tax Updates for CTEC |
Join Bradley Burnett, J.D., LL.M., as he delivers up-to-the-day changes in federal tax law. The course, delivered at a brisk pace and with humor, is designed to meet the needs of the tax planner and return preparer by identifying and responsibly exploring recent important tax developments affecting individuals.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: October 2021
Designed For
Return preparers, tax planners and taxpayers desiring to keep up with late breaking tax developments.
Topics Covered
- Major provisions of recently enacted (and newly effective) federal tax legislation
- America Rescue Plan Act (ARPA) giveaways to individuals
- All-new child tax credits and advances
- Tax rates, economic impact payments (EIP) and premium tax credits (PTC)
- Recent important court cases, regulations, rulings and related developments affecting individuals and estates and trusts
- Income and estate and gift taxes
- IRS activity impact on planners and preparers
Learning Objectives
- Recognize new federal tax developments and how they apply to individuals
- Recognize which TCJA provision is set to expire in 2026
- Identify items included on Schedule 3 of Form 1040
- Recognize the amount the alternative minimum tax exemption amount for joint returns in 2021
- Recognize the SIMPLE contribution limit for 2021
- Identify which HSA related areas did not change from 2021 to 2022
- Describe how long an IP PIN is valid
- Identify a badge of fraud
- Identify the total possible employee amount for family and medical leave, based on the FFCRA
- Identify the Consolidated Appropriations Act 2021 spending bill amount
- Recognize how Con App 2021 applies to clients
- Identify what percent of respondents noted that they were very dissatisfied with IRS services, based on the AICPA Tax Section Survey
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (8 hours)
Program Prerequisites
Basic understanding of tax preparation.
Advance Preparation
None
