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OnDemand Course

IRS Form 1040 Preparation Fundamentals

Sharpen your understanding of the basics of personal income taxes and reporting them on a Form 1040.

Filing your income taxes is a chore. Without a better understanding of the U.S. tax system and the forms used to report to the IRS, filing taxes can potentially become problematic. With a maze of IRS publications, and confusing and ever-changing IRS reporting guidelines, compliance can be a daunting task for any person. Reduce potential IRS scrutiny. Learn about fundamental income tax laws and rules and changes to Form 1040.

Learning Objectives

  • You will be able to identify the fundamental structure of the Form 1040
  • You will be able to recognize the role of the IRS and changes due to the Tax Cuts and Job Act.
  • You will be able to differentiate between the tax liability between various taxpayer types
  • You will be able to differentiate between the purposes of the supplemental Form 1040 Schedules

61 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

  1. S. Income Tax System
    • Federal Income Tax Structure
    • Classification of Taxpayers
    • Internal Revenue Service

    Income Tax Returns

    • Who Must File an Income Tax Return?
    • Basic Contents of Form 1040 and Its Schedules
    • Filing Form 1040 and Paying Tax

    Basics of Tax Accounting

    • Types and Character of Income
    • Exemptions, Credits and Deductions
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on November 4, 2021.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William M. Gerhardt, J.D., LL.M. Taxation

William M. Gerhardt, J.D., LL.M. Taxation

Gerhardt Law Firm, PLLC

  • Tax consultant for Gerhardt Law Firm, PLLC
  • Works with individual and entity taxpayers providing tax consulting and business advisory services in all facets of federal income taxation
  • Represents clients in tax controversy and dispute resolution cases before the IRS and the U.S. Tax Court
  • LL.M. degree in taxation, University of Florida College of Law; J.D. degree, St. Mary’s University School of Law; B.A. degree, Vanderbilt University
  • Can be contacted at 210-239-1396 or [email protected]
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 409344
Published 2021
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