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3 hours
CTEC IRS NASBA

2016 Federal Tax Law Updates

Course Description

Stay ahead of the curve in a competitive tax preparation environment with this course covering the essential developments impacting individual tax returns during the upcoming 2017 filing season (2016 tax law). This course includes a review of basic individual tax preparation information needed to prepare 2016 returns and tackles some of the most challenging areas for preparers, such as the increase in repair regulations safe harbor amount, a summary of the PATH Act of 2015, and a review of tax-related and non-tax related identity theft information. Practices, procedures, and professional responsibility requirements mandated by Circular 230 are covered to equip the practitioner with the relevant information needed to complete a successful 2017 filing season. The course content is provided in a lively fashion focusing on real-world solutions to common tax preparation problems and is replete with examples and illustrations demonstrating how to apply the relevant rules.

Learning Objectives

Upon completion of this course the reader will be able to:

  • Recognize the relevant changes affecting 2016 individual tax returns
  • Identify the applicable inflation adjustments and filing thresholds
  • Identify the repair regulations safe harbor amount
  • Distinguish potential sources of taxable income and deductible expenses
  • Review the rules of professional responsibility applicable to preparers
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