Description

This course is a comprehensive overview of critical Federal tax law updates resulting from changes to current laws, regulations and court cases impacting individual taxation. We will also review recent modifications to tax forms, small business tax law and administrative updates, retirement plan changes and tax practice and procedures. We will also explore the impacts of the Consolidated Appropriations Act of 2021 (CAA), the American Rescue Plan of 2021 (ARPA) and other legislative changes.

Target Audience

 Tax accountants in public or private practice in need of a federal individual income tax update.

Course Objectives

• Understand the major federal income tax laws impacting individuals as well as changes to Form 1040 and other related schedules and forms
• Understand the new tax legislation passed by Congress
• Understand the new administrative guidance issued by the IRS and Treasury Department
• Understand the recent court decisions that impact individual taxation

Subjects

• Review of recent federal legislation and administrative rulings
• Review of recent modifications to tax forms
• Review of small business tax law and administrative update changes
• Review of retirement plan changes
• Overall review of tax practice and procedures

Prerequisites

 Basic knowledge of individual income taxation.