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
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Why Lorman?
Over 35 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
- S. Income Tax System
- Federal Income Tax Structure
- Classification of Taxpayers
- Internal Revenue Service
- Who Must File an Income Tax Return?
- Basic Contents of Form 1040 and Its Schedules
- Filing Form 1040 and Paying Tax
- Types and Character of Income
- Exemptions, Credits and Deductions
Income Tax Returns
Basics of Tax Accounting
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Why Lorman?
Over 35 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.
- AIPB 1.0
- This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
Enrolled Agents 1.0
- This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
CPE/NASBA - QAS Self Study 1.6 including Taxes 1.6
- Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.6 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 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
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 35 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.
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