Marital Status and the Adoption Credits, Moving Expenses and Gain on Sale of Main Home

Course Description:

In Marital Status, the goal is to identify which acts constitute consideration of marriage, as well as the benefits and consequences of obtaining married status. For the most part, the ability to file married-joint creates the most beneficial situation for taxpayers. In certain circumstances, like adoption of a spouse's child, marital status can create adverse effects. In addition, this course identifies how to treat income from the sale of a main home, and how to handle moving expenses following the passage of the Tax Cuts and Jobs Act of 2017 (TCJA).

Learning Objectives:

• Understand tax payments (e.g., withholding, estimated payments).
• Understand due dates, including extensions.
• Taxability of wages, salaries, tips, and other earnings (e.g., W-2 Wage and Tax Statement, cash).
• Sale of a principal residence (e.g., IRC 121 exclusions, 1099S Proceeds From Real Estate Transactions).
• Eligible Moving expenses - (e.g., Form 3903 Moving Expenses).
• Penalties to be assessed by the IRS against a preparer for negligent or intentional disregard of rules and regulations, and for a willful understatement of liability (e.g., IRC 6694(a), IRC 6694(b)).
• Safeguarding taxpayer information - (e.g., Publication 4600 Safeguarding Taxpayer Information, Quick Reference Guide for Business, IRC 7216).

Duration: 100 minutes
Who Should Attend: All tax practitioners advising individual clients
Course Level: Basic - story-based
Prerequisite: None
Advance Preparation: None
Delivery Method: Self Study - Internet Based
IRS CE: UBWMF-T-00300-24-S
CTEC: 6209-CE-0211
NASBA: 116347
Expiration: In accordance with NASBA standards, access to this course will terminate one year from the date of purchase. Incomplete courses will no longer be accessible beyond the one year deadline.

Last Modified: 04/27/2021