CE: 11 IRS/CTEC
Speakers: Jane Ryder, EA, CPA; Darryl Brown, PhD, EA, CPA, NTPI Fellow; Beth Logan, EA
The Individual Credits and Deductions Certificate program is designed to provide tax professionals with a comprehensive understanding of various tax credits and deductions available to individuals. Through a series of eight classes, participants will dive into topics such as earned income tax credits, child tax credits, education deductions, energy credits, alternative minimum tax, and the Affordable Care Act provisions related to tax credits. Each class is led by experienced instructors who will guide participants through relevant forms, eligibility criteria, and compliance requirements.
Learning Objectives:
- Differentiate between deduction types.
- Distinguish Schedule 1 income sources from those directly reported on the 1040.
- Determine if a taxpayer qualifies for EIC.
- Describe situations where form 8332 is required.
- Categorize taxpayers into those that qualify for AOTC, LLC, or do not qualify for credits.
- Demonstrate how credits can be claimed on form 8801.
- Solve the circular calculation between form 8962 and form 7206.
- Complete all forms discussed throughout the certificate program.
Throughout the program, participants will gain practical skills and knowledge to accurately navigate and assist clients with claiming various tax credits and deductions, ultimately enhancing their proficiency in individual tax preparation.
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