CPA, EA, & OTRP Continuing
Professional Education (CPE)

NASBA & IRS approved online CPE training materials
will refine your knowledge, and help you excel
in your educational requirements.
Online CPE for EA, CPA & OTRP

We offer 24/7 access to our online courses, and we report to the IRS! No hidden fees, and all courses are registered with either the IRS, NASBA, and/or CTEC!

Available Courses

15HR Story Based

  • Avoiding Disciplinar...
    Avoiding Disciplinary Actions for Circular 230 Violations

    Course Description:

    This course outlines the basic sanctions imposed under Circular 230 and the process for imposing them. More importantly, the material digests dozens of disciplinary cases instituted under Circular 230 and categorizes the specific types of conduct leading to sanctions. Upon completing this course the practitioner will have a firm grounding in the patterns of activities that are likely to result in disciplinary actions, those defenses that may be successful, and the excuses that do not work.

    Learning Objectives:

    • Identify the different sanctions the OPR may impose for violations of Circular 230
    • Determine party responsible for violations of Circular 230
    • Recognize the difference between frivolous arguments and reasonable basis
    • Define violations of Circular 230
  • Fiscal Cliff: Tax U...
    Fiscal Cliff: Tax Update 2013
    Course Description

    Everyone has heard about it...the fiscal cliff. Amidst discussions of increases in tax rates and decreases in government spending, the question looms for many Americans - what does the fiscal cliff mean to me? Diving into the Fiscal Cliff is an educational program designed to take the guess work out of understanding the definition of a fiscal cliff and how the various provisions affect each of us - regardless of age, status or income.

    Learning Objectives
    • Significant tax provisions of the American Taxpayer Relief Act of 2012
    • Elements of the Affordable Care Act (“Obamacare”) that take effect in 2013
    • New tax rates for ordinary income and capital gains
    • The new 0.9% Medicare tax on wages and self-employment income
    • 3.8% Medicare tax on unearned income
    • The permanent patch to the alternative minimum tax
    • Estate tax revision
    • The two most controversial aspects of Obamacare (the individual mandate and shared responsibility payments for larger employers)

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

  • Earned Income Tax Cr...
    Earned Income Tax Credit and Preparer Responsibilities

    Course Description

    The recent economic downturn and expansion of the Earned Income Tax Credit ("EITC") means that more and more professional preparers will be encountering clients who may be eligible for the credit. While this might be welcomed news for taxpayers, it presents a minefield of dangers for preparers. Unlike other tax credits, the EITC imposes special compliance burdens on those who prepare the return, exposing tax professionals to potentially severe consequences for a lack of due diligence. In this environment there is no substitute for a thorough understanding of preparer obligations.

    This course explores the general requirements for the EITC and focuses on the preparer's responsibilities when undertaking to prepare a return claiming the credit. The due diligence requirements are set forth in detail, with examples illustrating the application of the basic principles involved. After completion of this course you will be sufficiently acclimated to the EITC preparer rules to confidently prepare returns for lower income clients.

    Learning Objectives

    • Recognize key definitions and terms used when discussing the EITC, such as earned income, due diligence, and qualifying child
    • Calculate refunds using threshold numbers, and tax liability and payment data
    • Identify EITC error rates, frequency of fraudulent returns, and preparer penalties
    • Identify the various steps within the due diligence process, including requirement for Form 8867 and preparer obligation to evaluate information provided by the taxpayer
    • Recognize the eligibility requirements for the EITC
    • Identify record-keeping requirements associated with EITC credit documentation

    Duration: 100 minutes
    Who Should Attend: All tax practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Self Study - Internet Based
    CPE: NASBA, IRS, CTEC
    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.

  • Taxation of Daycare ...
    Taxation of Daycare Providers

    Course Description

    It is estimated that over 130,000 daycare businesses employ almost one million workers in the U.S. Most of these businesses have five or fewer employees, and many are sole proprietorships run out of the owner's home. Many daycare providers are unaware of, or simply misapply, the somewhat confusing tax rules to which they are subject. This course guides the practitioner through the tax complexities, focusing on the proper determination of deductions, so that you may be better positioned to identify the issues and help your client minimize tax burden and the chance of noncompliance.

    Learning Objectives

    • Identify different types of daycare providers
    • Identify the standards by which an expense is classified as a business deduction
    • Understand which types of property qualify for depreciation deductions, as well as rules for determining basis
    • Determine sources of business expenses such as business related travel, payments for food and toys, start-up costs, and business use of home
    • Identify when a daycare provider can consider bad debt as an expense
    • Understand rules for paying wages and compensation to all levels of employees, including family members and independent contractors, as well as classification of payments made to the business owner

    Duration: 100 minutes
    Who Should Attend: All tax practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Self Study - Internet Based
    CPE: NASBA, IRS, CTEC
    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.

  • Cancellation of Debt...
    Cancellation of Debt Income
    Course Description:

    Debt cancellation is an increasingly common occurrence, especially in times of a troubled economy. The forgiveness of a debt not only has economic and financial consequences, but also specific tax consequences and the rules regarding these tax consequences can be complicated. Taxpayers and their advisors attempting to navigate through these turbulent waters will need a compass; this course is designed to provide that compass.

    Those who fail to abide by the complex requirements of recognizing and excluding cancellation of debt ("COD") income may encounter unpleasant surprises. In this course we will explore the basic rules for both the inclusion of COD income in gross income and the circumstances in which COD income can be excluded; delving into each exclusion in some detail. Using examples to illustrate the application of the rules to specific situations, we will address calculation of the inclusion amount, the consequence of tax attribute reduction following exclusion, and the complicated issues related to attribute reduction in the context of S corporation and partnership borrowers.



    Learning Objectives:

    After completing this course you will be able to:

    • Recognize the COD income rules
    • Identify circumstances in which COD income has to be included and those in which it may be excluded from your clients' gross incomes
    • Classify how to report both the income resulting from a cancellation of debt and the tax attribute reduction necessary when an exclusion applies
    • Define key terms such as income and insolvency
  • Healthcare Reform: T...
    Healthcare Reform: Tax Provisions of the Affordable Care Act

    Introduction to the Course:

    The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.

    In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.

    In so doing, it will consider the:

    • Coverage-related provisions of the PPACA addressing -
      • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
      • The prohibition of pre-existing condition exclusions,
      • The proscription of lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections,
      • The general requirement for universal health care coverage, and
      • The requirement that plans covering children extend child coverage until age 26;
    • Tax credits available to small businesses to encourage them to sponsor employee health plans;
    • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
    • Various personal income tax changes affecting taxpayers; and
    • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.


    Learning Objectives

    Upon completion of this course, you should be able to:

    • Describe the principal healthcare provisions of the PPACA;
    • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
    • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
    • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

    Duration: 200 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.

    CPE Sponsor Information

  • The IRS and CTEC approved online story-based package includes courses covering 10 hours of other federal tax law, 2 hours of ethics, and 3 hours of federal tax law updates. ALL courses registered with the IRS and CTEC.

    Who says CE has to be boring! Complete your CE in style with story-based online courses designed to engage and entertain you the whole way through.

    So, what is story-based CE? Simply put, story-based CE is a series of online CE courses creatively brought to life by using entertaining stories, scenarios, and illustrations. The scenarios presented depict situations a tax preparer would encounter in the real world, but with a humorous twist. You might actually catch yourself smiling as you work your way through the course.

    Successful completion of the online story-based package satisfies the 15-hour annual continuing education voluntary requirement for RTRP's. This course is also registered with CTEC as continuing education for preparers in the state of California.

    We offer 24/7 access to our online courses, and we report to the IRS and CTEC! No hidden fees, and all courses are registered with the IRS and CTEC! You are required to pass an exam with a score of 70% or better in order to receive credit for our online courses. You can take our exams until you pass. Each exam is 5 questions for each hour of CE credit.

    Courses included in this 15-hour bundle:
    Avoiding Disciplinary Actions for Circular 230 Violations
    Fiscal Cliff: Tax Update 2013
    The Earned Income Tax Credit and Preparer Responsibilities
    Taxation of Daycare Providers
    Tax Rules Related to Ministers and Clergy
    Patient Protection and Affordable Care Act Comprehensive Course

15HR IRS Premium

  • Avoiding Disciplinar...
    Avoiding Disciplinary Actions for Circular 230 Violations

    Course Description:

    This course outlines the basic sanctions imposed under Circular 230 and the process for imposing them. More importantly, the material digests dozens of disciplinary cases instituted under Circular 230 and categorizes the specific types of conduct leading to sanctions. Upon completing this course the practitioner will have a firm grounding in the patterns of activities that are likely to result in disciplinary actions, those defenses that may be successful, and the excuses that do not work.

    Learning Objectives:

    • Identify the different sanctions the OPR may impose for violations of Circular 230
    • Determine party responsible for violations of Circular 230
    • Recognize the difference between frivolous arguments and reasonable basis
    • Define violations of Circular 230
  • Fiscal Cliff: Tax U...
    Fiscal Cliff: Tax Update 2013
    Course Description

    Everyone has heard about it...the fiscal cliff. Amidst discussions of increases in tax rates and decreases in government spending, the question looms for many Americans - what does the fiscal cliff mean to me? Diving into the Fiscal Cliff is an educational program designed to take the guess work out of understanding the definition of a fiscal cliff and how the various provisions affect each of us - regardless of age, status or income.

    Learning Objectives
    • Significant tax provisions of the American Taxpayer Relief Act of 2012
    • Elements of the Affordable Care Act (“Obamacare”) that take effect in 2013
    • New tax rates for ordinary income and capital gains
    • The new 0.9% Medicare tax on wages and self-employment income
    • 3.8% Medicare tax on unearned income
    • The permanent patch to the alternative minimum tax
    • Estate tax revision
    • The two most controversial aspects of Obamacare (the individual mandate and shared responsibility payments for larger employers)

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

  • Aspiring Authors Nee...
    Aspiring Authors Need Not Apply: The Correct Approach to Deducting Travel Expenses

    Objectives:

    It is no longer uncommon for taxpayers to live and work in different metropolitan areas and for organizations to hold meetings and conventions in resort locations. When this is the case, some or all of the taxpayer's travel expenses may be deductible. Tax professionals need to be aware of the myriad of rules surrounding the deductibility of travel expenses in order to adequately advise their clients.

    This course explores the requirements and limits pertaining to deductions for travel expenses. The general requirements are set forth in detail, with specific attention given to travel related to temporary work locations and foreign travel. The concept of a taxpayer's "tax home" is illustrated using numerous examples and explanations. Deduction of travel expenses for medical, charitable, and educational purposes is also addressed.This course explores the requirements and limits pertaining to deductions for travel expenses. The general requirements are set forth in detail, with specific attention given to travel related to temporary work locations and foreign travel. The concept of a taxpayer's "tax home" is illustrated using numerous examples and explanations. Deduction of travel expenses for medical, charitable, and educational purposes is also addressed.

    Learning Objectives:

    • Identify non-deductible commuting expenses from the costs of deductible travel
    • Determine when spousal or companion travel may be deductible
    • Identify how to handle the travel expenses of taxpayers with multiple work locations
    • Recognize when travel expenses have to be allocated between business and non-business activities
    • Recognize the limitation on deductions for lavish or extravagant travel expenditures
  • Cancellation of Debt...
    Cancellation of Debt Income
    Course Description:

    Debt cancellation is an increasingly common occurrence, especially in times of a troubled economy. The forgiveness of a debt not only has economic and financial consequences, but also specific tax consequences and the rules regarding these tax consequences can be complicated. Taxpayers and their advisors attempting to navigate through these turbulent waters will need a compass; this course is designed to provide that compass.

    Those who fail to abide by the complex requirements of recognizing and excluding cancellation of debt ("COD") income may encounter unpleasant surprises. In this course we will explore the basic rules for both the inclusion of COD income in gross income and the circumstances in which COD income can be excluded; delving into each exclusion in some detail. Using examples to illustrate the application of the rules to specific situations, we will address calculation of the inclusion amount, the consequence of tax attribute reduction following exclusion, and the complicated issues related to attribute reduction in the context of S corporation and partnership borrowers.



    Learning Objectives:

    After completing this course you will be able to:

    • Recognize the COD income rules
    • Identify circumstances in which COD income has to be included and those in which it may be excluded from your clients' gross incomes
    • Classify how to report both the income resulting from a cancellation of debt and the tax attribute reduction necessary when an exclusion applies
    • Define key terms such as income and insolvency
  • Gliders, Geldings, a...
    Gliders, Geldings, and Gamblers: A Review of the Hobby Loss Rules

    Course Description:

    The IRS routinely targets activities engaged in by taxpayers for analysis under Internal Revenue Code §183, the so-called "hobby loss" rules. While taxpayers are allowed to deduct losses from business activities against other income, losses subject to Code section 183 are disallowed, and deductions are limited to the income generated from such activities. Dozens of cases involving this issue are decided by the Tax Court every year underlining the need for practitioners to be aware of what to look for (and look out for) when advising their clients about the deductibility of business activity losses. The problem is that these rules are really nothing more than a series of factors and the resolution of any case is fact-specific.

    The purpose of this course is to provide the practitioner with an overview of the common factual elements found in these cases so that they can be better prepared to help their clients navigate these difficult waters.

    Learning Objectives:

    • Identify the required method for allocating expenses pursuant to Code §183
    • Name the elements of the 10-part test under the hobby loss rules
    • Recognize a "for-profit" activity
    • Recognize and determine the deductible expenses when an activity fails to meet the "profit motive" test
  • Something Old, Somet...
    Something Old, Something New, Some Divorce Tax Issues for You

    Course Description:

    This federal tax law course is designed to provide the tax preparer with necessary information to assist taxpayers in the process of divorce or who have recently completed divorce. The course provides information on how to elect filing status, how to deal with separation of property following divorce, and circumstances involved in common law or same sex marriages.

    Learning Objectives:

    After completing this course, you will be able to...

    • Understand the rules of transfers of property incident to divorce
    • Determine appropriate filing status for divorcing and divorced couples
    • Identify eligibility for deductions in situations of community property
    • Understand rules for same sex unions
  • Whose Deduction is i...
    Whose Deduction is it Anyway? Tax Issues for Divorced and Separated Parents

    Course Description:

    This course is not intended as a comprehensive analysis of all the tax issues that arise in the context of divorce or separation. Many of the tax issues that may arise need to be dealt with in a planning context, before a divorce or separation agreement is finalized. Rather, the objective of this course is to review the issues that are most likely to confront the return preparer whose clients are already divorced, separated, or otherwise not married to the other parent of their children.

    Learning Objectives:

    • Recognize the difference in classification between alimony and child support
    • Calculate the dependency exemption allowances in cases of divorce and separation
    • Identify the eligibility of qualifying relatives
    • Determine the various credits available to taxpayers with children


    Duration: 75 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Simply put, the 15 Hour Premium CPE package includes specialized and relevant tax topics that are "must haves" for any tax preparer wishing to stay current with the changing times and changing needs of his or her clients. For example: the recent economic downturn has impacted countless Americans in many different ways. Foreclosures, short sales, and bankruptcies are now more common than ever and can affect all income levels and stature; each accompanied by their own potential tax-filing challenges. Unfortunately divorce sometimes follows as an aftershock when financial worlds unravel within the household. The 15-HR Premium CPE package will prepare you to help your clients with the tax challenges these and other relevant topics may present in today's ever changing world.

    The 15 Hour Premium CPE package also satisfies the annual voluntary requirement for RTRP's and qualifies for the EA and CTEC credentials as well. The package includes 3 hours of federal tax law updates, 2 hours of ethics, and 10 hours of other federal tax law.

    The IRS approved 15 Hour Premium CPE package package includes courses covering 10 hours of other federal tax law, 2 hours of ethics, and 3 hours of federal tax law updates. ALL courses registered with the IRS and CTEC.

    We offer 24/7 access to our online courses, and we report to the IRS! No hidden fees, and all courses are registered with the IRS and CTEC! The IRS requires you to pass an exam with a score of 70% or better in order to receive credit for our online courses. You can take our exams until you pass. Each exam is 5 questions for each hour of CE credit.

    Courses included in this 15-hour bundle:
    Ethics - Avoiding Disciplinary Actions for Circular 230 Violations
    Fiscal Cliff: Tax Update 2013
    Aspiring Authors Need Not Apply: The Correct Approach to Deducting Travel Expenses
    Cancellation of Debt Income
    Gliders, Geldings, and Gamblers: A Review of the Hobby Loss Rules
    Something Old, Something New, Some Divorce Tax Issues for You
    Whose Deduction is it Anyway? Tax Issues for Divorced and Separated Parents

EA 24HR Premium

  • Tax Return Preparer ...
    Tax Return Preparer Ethical Issues

    Introduction to Course:

    The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek for the knowledgeable assistance of attorneys, CPAs, enrolled agents and registered tax return preparers.

    To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance in:

    • Setting forth rules relating to the authority to practice before the IRS;
    • Identifying the duties and restrictions relating to practice before the IRS; and
    • Prescribing sanctions for violating the regulations.
    This course will examine many of those rules, duties and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers by them and will then present real-world scenarios focusing on specific ethical issues they may encounter in their professional activities. The preparer will be asked to analyze the scenario, identify the ethical issue or issues presented and determine an appropriate response. Learning Objectives Upon completion of this course, you should be able to:
    • Discuss the scope of registered tax return preparer responsibilities;
    • Describe the best practices for tax advisors in preparing or assisting in the preparation of a submission to the Internal Revenue Service;
    • Explain practitioner duties and restrictions with respect to -
      • Information to be furnished to the IRS,
      • The practice of law,
      • Dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws,
      • The requirement for preparer diligence as to accuracy,
      • Return of client records,
      • The existence of conflicts of interest, and
      • Solicitation of business; and
    • List the various sanctions that may be imposed for a preparer's failure to comply with applicable conduct rules.
  • Fiscal Cliff: Tax U...
    Fiscal Cliff: Tax Update 2013
    Course Description

    Everyone has heard about it...the fiscal cliff. Amidst discussions of increases in tax rates and decreases in government spending, the question looms for many Americans - what does the fiscal cliff mean to me? Diving into the Fiscal Cliff is an educational program designed to take the guess work out of understanding the definition of a fiscal cliff and how the various provisions affect each of us - regardless of age, status or income.

    Learning Objectives
    • Significant tax provisions of the American Taxpayer Relief Act of 2012
    • Elements of the Affordable Care Act (“Obamacare”) that take effect in 2013
    • New tax rates for ordinary income and capital gains
    • The new 0.9% Medicare tax on wages and self-employment income
    • 3.8% Medicare tax on unearned income
    • The permanent patch to the alternative minimum tax
    • Estate tax revision
    • The two most controversial aspects of Obamacare (the individual mandate and shared responsibility payments for larger employers)

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

  • Representing Taxpaye...
    Representing Taxpayers Before the IRS

    This is a basic level course that describes the contexts in which the Internal Revenue Service ("IRS") interacts with taxpayers in circumstances where representation of the taxpayer would be appropriate. The specific objectives of this course are to arm you with the necessary knowledge and skills to effectively represent taxpayers before the IRS with respect to both audits and collection activity. Using examples and illustrations, this course will familiarize you with the forums in which the IRS is encountered, the methods and procedures of each, and suitable responses to IRS communications. You will learn to distinguish "real" deadlines imposed by law from suggested response dates. Upon completion of this course you will have a better understanding of the options available to assist your clients at various stages of the controversy process, what to expect from IRS personnel, and what is expected of you as a taxpayer representative.

  • Whose Deduction is i...
    Whose Deduction is it Anyway? Tax Issues for Divorced and Separated Parents

    Course Description:

    This course is not intended as a comprehensive analysis of all the tax issues that arise in the context of divorce or separation. Many of the tax issues that may arise need to be dealt with in a planning context, before a divorce or separation agreement is finalized. Rather, the objective of this course is to review the issues that are most likely to confront the return preparer whose clients are already divorced, separated, or otherwise not married to the other parent of their children.

    Learning Objectives:

    • Recognize the difference in classification between alimony and child support
    • Calculate the dependency exemption allowances in cases of divorce and separation
    • Identify the eligibility of qualifying relatives
    • Determine the various credits available to taxpayers with children


    Duration: 75 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Gliders, Geldings, a...
    Gliders, Geldings, and Gamblers: A Review of the Hobby Loss Rules

    Course Description:

    The IRS routinely targets activities engaged in by taxpayers for analysis under Internal Revenue Code §183, the so-called "hobby loss" rules. While taxpayers are allowed to deduct losses from business activities against other income, losses subject to Code section 183 are disallowed, and deductions are limited to the income generated from such activities. Dozens of cases involving this issue are decided by the Tax Court every year underlining the need for practitioners to be aware of what to look for (and look out for) when advising their clients about the deductibility of business activity losses. The problem is that these rules are really nothing more than a series of factors and the resolution of any case is fact-specific.

    The purpose of this course is to provide the practitioner with an overview of the common factual elements found in these cases so that they can be better prepared to help their clients navigate these difficult waters.

    Learning Objectives:

    • Identify the required method for allocating expenses pursuant to Code §183
    • Name the elements of the 10-part test under the hobby loss rules
    • Recognize a "for-profit" activity
    • Recognize and determine the deductible expenses when an activity fails to meet the "profit motive" test
  • Aspiring Authors Nee...
    Aspiring Authors Need Not Apply: The Correct Approach to Deducting Travel Expenses

    Objectives:

    It is no longer uncommon for taxpayers to live and work in different metropolitan areas and for organizations to hold meetings and conventions in resort locations. When this is the case, some or all of the taxpayer's travel expenses may be deductible. Tax professionals need to be aware of the myriad of rules surrounding the deductibility of travel expenses in order to adequately advise their clients.

    This course explores the requirements and limits pertaining to deductions for travel expenses. The general requirements are set forth in detail, with specific attention given to travel related to temporary work locations and foreign travel. The concept of a taxpayer's "tax home" is illustrated using numerous examples and explanations. Deduction of travel expenses for medical, charitable, and educational purposes is also addressed.This course explores the requirements and limits pertaining to deductions for travel expenses. The general requirements are set forth in detail, with specific attention given to travel related to temporary work locations and foreign travel. The concept of a taxpayer's "tax home" is illustrated using numerous examples and explanations. Deduction of travel expenses for medical, charitable, and educational purposes is also addressed.

    Learning Objectives:

    • Identify non-deductible commuting expenses from the costs of deductible travel
    • Determine when spousal or companion travel may be deductible
    • Identify how to handle the travel expenses of taxpayers with multiple work locations
    • Recognize when travel expenses have to be allocated between business and non-business activities
    • Recognize the limitation on deductions for lavish or extravagant travel expenditures
  • Retirement Plans, Pe...
    Retirement Plans, Pensions and Annuities

    Introduction:

    Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important "legs" of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal savings - through investment in securities, deferred annuities, savings accounts, etc. - and Social Security retirement benefits. This course will examine qualified employee plans, their limits and their tax treatment along with a discussion of annuities and their taxation.


    Annuities offer their owners the opportunity to systematically liquidate a principal sum or save money for a long-term objective. For many annuity buyers, that objective is to provide income during retirement. As we will see in our examination of annuities, they provide owners with a number of advantages; principal among them is their tax treatment. By purchasing and investing in an annuity, a contract owner can avoid current income taxation of earnings. By avoiding current income taxation, earnings that might have been used to pay current income taxes can be invested to produce additional income.


    Annuities' tax advantages aren't limited to tax deferral, however; annuities offer additional tax advantages. For example, an investor purchasing a variable annuity can change his or her investment allocation in the contract's variable subaccounts whenever desired. Typically, such changes are made in order to implement new objectives or to modify the level of risk assumed. From a tax point of view, the important issue is that the contract owner can make these changes without being required to recognize income as would be required if, for example, the investor liquidated his or her stock portfolio in order to purchase bonds. In addition to these tax benefits, a contract owner that elects to annuitize his annuity contract, i.e. to take a periodic income from it, will find that part of each periodic income payment may be tax free as a return of his or her investment in the annuity contract.


    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Describe the types and characteristics of qualified employee plans;
    • Explain the limits imposed on qualified employee plan contributions and benefits;
    • Describe the requirements applicable to qualified employee plan loans and their tax treatment;
    • Explain the rules governing rollovers to and from qualified employee plans;
    • Apply the federal tax laws to qualified employee plan contributions and distributions;
    • List the principal types of annuities and their characteristics; and
    • Describe how annuity contributions and distributions are taxed.


    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Tax Treatment of Sic...
    Tax Treatment of Sickness and Injury Plans

    Introduction:

    Health insurance is so central to the health and well-being of people that it may be hard for many Americans to believe it could ever have been a less important factor in helping to promote good health than it is today. In fact, health insurance as it is recognized today is a relatively recent development.


    Since the early development of health insurance coverage, many changes have occurred in the manner in which health care services are delivered and paid for. Among those changes is the emergence of various tax-favored health plans. This course will examine many of those tax-favored health plans.

    Learning Objectives:

    Upon completion of this course, you should be able to:
    • Describe the tax treatment of premiums for and benefits from health insurance policies;
    • Explain the rules governing health savings accounts and Archer medical savings accounts, including their requirements and limits relative to -
      • Eligibility,
      • Contributions,
      • Distributions,
      • Transfers, and
      • Rollovers;
    • Clarify the elements of a health reimbursement account and its tax treatment;
    • Compare the tax treatment of employer-paid and individually-paid disability income insurance policies;
    • Describe the tax treatment of business-related disability coverage, including -
      • Disability overhead expense policies,
      • Disability buyout policies, and
      • Keyperson disability policies; and
    • Explain the tax treatment of long term care insurance.


    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Education Tax Benefi...
    Education Tax Benefits

    Introduction:

    Few advantages are as sought after by parents for their children than an education that will enable them to grow professionally and enjoy the benefits such an education can help bestow. The federal government supports and encourages their efforts to provide that education through various programs and income tax incentives.

    This course will examine the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual's education. In so doing, it will consider:

    • Qualified tuition programs;
    • Coverdell education savings accounts;
    • The education savings bond program;
    • Federal tax credits for education;
    • The federal tax treatment of scholarships, fellowships, grants and tuition reductions; and
    • Deductions available for student loan interest, tuition and fees.

    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Describe the features of the types of qualified tuition programs available under IRC section 529;
    • Explain the tax benefits provided under an IRC section 529 qualified tuition program;
    • Identify the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA);
    • Describe the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses;
    • Explain how the American opportunity and lifetime learning credits operate;
    • Illustrate the tax treatment of scholarships, fellowships and other types of educational assistance; and
    • Explain the federal income tax rules applicable to student loan interest, payment of tuition and fees, and student loan cancellations and repayment assistance.
  • The IRS approved online 24 hour package for enrolled agents includes courses covering 19 hours of other federal tax law, 2 hours of ethics, and 3 hours of federal tax law updates. No hidden fees, and all courses are registered with the IRS and CTEC!

    You may take each course separately. Successful completion of all courses in this package satisfies the 24-hour annual continuing education requirement for Enrolled Agent's.

    We offer 24/7 access to our online courses, and we report to the IRS! The IRS requires you to pass an exam with a score of 70% or better in order to receive credit for our online courses. You can take our exams until you pass. Each exam is 5 questions for each hour of CE credit.
    Courses included in this 24-hour bundle:

    Tax Return Preparer Ethical Issues
    2 hours ethics

    Fiscal Cliff: Tax Update 2013
    3 hours federal tax update

    Representing Taxpayers Before the IRS
    2 hours federal tax law

    Whose Deduction is it Anyway, Tax Issues for Divorced and Separated Parents
    2 hours federal tax law

    Gliders, Geldings, and Gamblers: A Review of the Hobby Loss Rules
    2 hours federal tax law

    Aspiring Authors Need Not Apply: The Correct Approach to Deducting Travel Expenses
    2 hours federal tax law

    Retirement Plans, Pensions and Annuities
    3 hours federal tax law


    Tax Treatment of Sickness and Injury Plans
    3 hours federal tax law

    Education Tax Benefits
    5 hours federal tax law

5HR PPACA Video

  • The Healthcare Refor...
    The Healthcare Reform Act: A Complete Guide to Understanding the PPACA

    Introduction to the Course:

    The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.
    In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.
    In so doing, it will consider the:

    • Coverage-related provisions of the PPACA addressing -
      • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
      • The prohibition of pre-existing condition exclusions,
      • The proscription of lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections,
      • The general requirement for universal health care coverage, and
      • The requirement that plans covering children extend child coverage until age 26;
    • Tax credits available to small businesses to encourage them to sponsor employee health plans;
    • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
    • Various personal income tax changes affecting taxpayers; and
    • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.

    Learning Objectives

    Upon completion of this course, you should be able to:

    • Describe the principal healthcare provisions of the PPACA;
    • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
    • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
    • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

    Sample Videos:

    Duration: 250 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (Video Course) 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.

    CPE Sponsor Information

  • The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.
    In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.
    In so doing, it will consider the:

    • Coverage-related provisions of the PPACA addressing
      • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
      • The prohibition of pre-existing condition exclusions,
      • The proscription of lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections,
      • The general requirement for universal health care coverage, and
      • The requirement that plans covering children extend child coverage until age 26;
    • Tax credits available to small businesses to encourage them to sponsor employee health plans;
    • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
    • Various personal income tax changes affecting taxpayers; and
    • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.

    Learning Objectives

    Upon completion of this course, you should be able to:

    • Describe the principal healthcare provisions of the PPACA;
    • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
    • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
    • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

    Sample Videos:

    Duration: 250 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (Video Course)

    CPE Sponsor Information

Tax Update & PPACA

  • Fiscal Cliff: Tax U...
    Fiscal Cliff: Tax Update 2013
    Course Description

    Everyone has heard about it...the fiscal cliff. Amidst discussions of increases in tax rates and decreases in government spending, the question looms for many Americans - what does the fiscal cliff mean to me? Diving into the Fiscal Cliff is an educational program designed to take the guess work out of understanding the definition of a fiscal cliff and how the various provisions affect each of us - regardless of age, status or income.

    Learning Objectives
    • Significant tax provisions of the American Taxpayer Relief Act of 2012
    • Elements of the Affordable Care Act (“Obamacare”) that take effect in 2013
    • New tax rates for ordinary income and capital gains
    • The new 0.9% Medicare tax on wages and self-employment income
    • 3.8% Medicare tax on unearned income
    • The permanent patch to the alternative minimum tax
    • Estate tax revision
    • The two most controversial aspects of Obamacare (the individual mandate and shared responsibility payments for larger employers)

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

  • Healthcare Reform: T...
    Healthcare Reform: Tax Provisions of the Affordable Care Act

    Introduction to the Course:

    The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.

    In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.

    In so doing, it will consider the:

    • Coverage-related provisions of the PPACA addressing -
      • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
      • The prohibition of pre-existing condition exclusions,
      • The proscription of lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections,
      • The general requirement for universal health care coverage, and
      • The requirement that plans covering children extend child coverage until age 26;
    • Tax credits available to small businesses to encourage them to sponsor employee health plans;
    • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
    • Various personal income tax changes affecting taxpayers; and
    • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.


    Learning Objectives

    Upon completion of this course, you should be able to:

    • Describe the principal healthcare provisions of the PPACA;
    • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
    • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
    • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

    Duration: 200 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.

    CPE Sponsor Information

  • Everything you need to be ready for the upcoming tax season. Between these two courses you will master the Fiscal Cliff changes and the new health care reform laws.

CPA 40HR Premium

  • Organizational Dynam...
    Organizational Dynamics and Risk Management: An Integrated Approach

    Course Description

    A solid foundation in the structural and behavioral dynamics implicit in business organizations is crucial to effective leadership. By integrating theories of organizational structure and risk management, this course serves to illuminate the ever-changing environment in which crucial business decisions must be made. Structures and processes are dissected and examined to provide a framework for decision making. The course takes an in-depth look at both classic and contemporary theories of organizational structure and what they teach us about effective management principles. Business process analysis and improvement using techniques such as variance analysis and six sigma is also addressed.

    Learning Objectives

    Upon completion of this course, you should be able to:

    • Compare the advantages and disadvantages of decentralization
    • Identify aspects of Corporate Social Responsibility
    • Recognize risk and identify benefits of risk management protocols
    • Demonstrate understanding of common risk and governance terms like span of control, social responsibility, matrix organization, and others

    Duration: 100 minutes
    Who Should Attend: All accounting professionals
    Course Level: Advanced
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: QAS
    CPE: NASBA
    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.


    CPE Sponsor Information

  • A Risk-Based Approac...
    A Risk-Based Approach to Accounting Ethics

    Course Objectives

    This course discusses the main ethical rules and principles that apply to CPAs and non-licensed accountants within the framework of a risk-based approach. The incorporation of the risk-based approach into the AICPA Code of Professional Conduct rules on independence is used as the basis for a discussion of how the risk-based approach applies to ethical rules in general, including rules regarding confidentiality, gifting, and subordination of judgment.


    Learning Objectives

    After completing this course you will be able to:

    • Define the risk-based approach to accounting ethics and apply it to real-world situations
    • Distinguish which ethical rules apply solely to CPAs and which apply to accountants generally
    • Apply the risk-based approach to independence analysis and other ethical issues
    • Identify the basic threats and safeguards involved in an analysis of accounting independence
    • Identify the specified circumstances that impair independence
    • Apply the required steps to proceed when an engagement involves a conflict of interest
    • Distinguish confidentiality from the accountant-client privilege
    • Choose the appropriate response when confronted with gifting between clients and accountants


    Duration: 100 minutes
    Who Should Attend: All accounting professionals
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Self Study - Internet Based
    CPE: NASBA, IRS, CTEC
    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.


    CPE Sponsor Information

  • Internal Controls fr...
    Internal Controls from the Ground Up: Understanding Internal Controls and Assessing Risk Exposure

    Course Description

    This course provides a thorough discussion of the design, implementation, and evaluation techniques related to internal controls and addresses risk considerations relevant to a dynamic business environment. Using real-world examples to illustrate various types of control mechanisms and a detailed analysis of the control process, this course will equip financial professionals with the skills necessary to identify the characteristics of an effective system of internal controls and recognize susceptibility to fraud in financial systems. The use of critical path analysis, statistical applications, and correlation analysis to evaluate the control environment are demonstrated, as are enterprise-wide risk management techniques.

    Learning Objectives

    After completing this course you will be able to:

    • Define control
    • Identify essential elements and characteristics of multiple internal control frameworks (including the COSO and CoCo models)
    • Recognize the steps of conducting a fraud investigation
    • Determine the players and roles essential to an audit process
    • Identify the limitations of common control practices
    • Recognize duties and responsibilities of the internal auditor within an audit process

    Duration: 100 minutes
    Who Should Attend: All accounting professionals
    Course Level: Basic
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: QAS
    CPE: NASBA
    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.


    CPE Sponsor Information

  • Internal Auditor's T...
    Internal Auditor's Toolkit: Essential Skills for Successful Engagements

    Course Description

    The broad spectrum of skills needed by the internal auditor is addressed in this course, from evidence gathering techniques to proper documentation and communication of results. Fundamental processes involved in obtaining, analyzing, and interpreting relevant data are examined, as are specific data-gathering techniques, including a thorough discussion of interviewing strategies and the use of questionnaires, surveys, and observation. Readers will learn to identify and quantify risks and evaluate controls using various analytical tools such as matrices and financial statement ratios.


    This course offers an opportunity to develop sampling skills and addresses various aspects of that task encompassing both financial data and attribute sampling. Performing efficient audits through the use of dual-purpose techniques and stratification, among other approaches, is discussed and the application of sampling formulas is illustrated. An in-depth explanation of variance and trend analysis is included and the inferences that can be gleaned from regression analysis are covered. The course concludes with a consideration of the use of computer technology in internal audits and tips for evaluating the relevance, sufficiency, and reliability of evidence gathered in an internal audit engagement.

    Learning Objectives

    Upon completion of this course, you should be able to:

    • Recognize characteristics of survey techniques
    • Identify fundamentals of sampling as an audit process
    • Define role of Computerized Audit Tools in the audit process
    • Select techniques associated with Computer-Assisted Audit Techniques
    • Describe analytical review techniques
    • List the steps in documenting the audit process (working papers)
    • Classify evidence by hierarchy

    Duration: 200 minutes
    Who Should Attend: All accounting professionals
    Course Level: Basic
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: QAS
    CPE: NASBA
    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.


    CPE Sponsor Information

  • Preparing, Conductin...
    Preparing, Conducting, and Evaluating Internal Audit Engagements

    Course Description

    Learn to identify the role of the internal audit function within the strategic plan of an organization and how to successfully plan and execute an internal audit engagement. This course addresses the management of the internal audit function from start to finish, including the implementation of a risk-based approach to planning the audit, identifying and coordinating the tasks to be completed, and reporting results. Those completing the course will be equipped to distinguish the objectives and techniques applicable to financial audits and compliance audits, as well as to various consulting engagements commonly performed by internal auditors. An array of internal audit activities are addressed, from e-commerce (i.e., internet) evaluations to business continuity plan assessments. Audit quality issues are also examined, including an explanation of the ISO 9000 quality standards.

    Learning Objectives

    Upon completion of this course, you should be able to:

    • Identify steps in developing an internal audit plan
    • List benefits of ethical culture and audit code of conduct
    • Recognize features in an effective engagement plan
    • Select minimum standards in audit resource management
    • Classify members of reporting hierarchy
    • Recognize types of benchmarking standards

    Duration: 200 minutes
    Who Should Attend: All accounting professionals
    Course Level: Basic
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: QAS
    CPE: NASBA
    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.


    CPE Sponsor Information

  • Information Technolo...
    Information Technology for Auditors

    Course Description

    This course provides an opportunity to explore various aspects of integrating information and information technology into organizations, including an assessment of the risk exposures that arise in an IT environment. Fraud risks associated with information management and appropriate control responses integrating the 5 COSO control components into the IT control system are illustrated. The entire information life cycle, including access, applications, processing, are addressed. The course also covers systems development from project definition to systems design and security. Networks and network management, including Voice over Internet Protocols (VoIPs) are discussed in detail.

    Learning Objectives

    Upon completion of this course, you will be able to:

    • Identify controls (input, output, general, application, etc.)
    • Recognize characteristics of each control system
    • Differentiate job descriptions, duties and functions based on role within IT department
    • List phases in project development
    • Describe systems development process
    • Recognize elements of control and documentation
    • Identify common risk factors
    • Compare software and hardware
    • Select terms related to networks, privacy and encryption

    Duration: 200 minutes
    Who Should Attend: All accounting professionals
    Course Level: Basic
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: QAS
    CPE: NASBA
    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.


    CPE Sponsor Information

  • Economic Principles ...
    Economic Principles and the Effects of Globalization on Today's Business

    Course Description

    The global expansion of markets and the intertwining of economic systems call for a holistic consideration of fundamental principles affecting business today. This course presents such an approach by incorporating a thorough discussion of international marketing and human resource concerns, government regulation, and the economic environment in which businesses operate. The forces that determine the success of an industry are explored, as are the basics of economic theory. This course discusses monetary and fiscal policies addressed by central banking organizations throughout the world and covers economic concepts related to inflation, unemployment, growth and supply-side theory.

    Learning Objectives

    Upon completion of this course, you should be able to:

    • Define common terms associated with global business, products and branding, and economic principles
    • Compare advantages and disadvantages of methods of international expansion
    • Recognize benefits of foreign direct investment (FDI)
    • Identify strategies for domestic products to be introduced to international markets
    • List the components that determine success of an industry
    • Describe common sources of communication breakdown when dealing with cultural differences
    • Select from a list the types and characteristics of leaders within the corporate structure
    • Identify essential training programs necessary to prepare managers for overseas assignments
    • Duration: 200 minutes
      Who Should Attend: All accounting professionals
      Course Level: Basic
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: QAS
      CPE: NASBA
      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.


      CPE Sponsor Information

  • Healthcare Reform: T...
    Healthcare Reform: Tax Provisions of the Affordable Care Act

    Introduction to the Course:

    The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.

    In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.

    In so doing, it will consider the:

    • Coverage-related provisions of the PPACA addressing -
      • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
      • The prohibition of pre-existing condition exclusions,
      • The proscription of lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections,
      • The general requirement for universal health care coverage, and
      • The requirement that plans covering children extend child coverage until age 26;
    • Tax credits available to small businesses to encourage them to sponsor employee health plans;
    • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
    • Various personal income tax changes affecting taxpayers; and
    • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.


    Learning Objectives

    Upon completion of this course, you should be able to:

    • Describe the principal healthcare provisions of the PPACA;
    • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
    • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
    • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

    Duration: 200 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.

    CPE Sponsor Information

  • Taxation of Lawsuits...
    Taxation of Lawsuits, Awards, and Settlements

    Course Objectives

    This course describes the various tax consequences that arise when the taxpayer receives or pays a lawsuit judgment, award, or settlement. Both gross income inclusion rules and tax deduction issues are discussed and illustrated with examples from case law and IRS rulings. The payment of attorney's fees is also covered extensively. After taking this course you should be able to accurately assess the tax ramifications of damages and settlements received or paid by your clients and assist your client and counsel representing your client in structuring lawsuits and settlement agreements.

    Learning Objectives

    Upon completion of this course you will be able to:

    • Identify damage awards and settlements that are taxable
    • Recognize which legal expenses are deductible
    • Choose appropriate approaches to settling legal disputes to achieve favorable tax consequences
    • Describe how to report attorney's fees with respect to legal disputes
    • Indentify the tax consequences of divorce, contract, and other types of legal cases

    Duration: 100 minutes
    Who Should Attend: All tax practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Self Study - Internet Based (QAS)
    CPE: NASBA, IRS, CTEC
    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.

    CPE Sponsor Information

  • Estate Tax Planning...
    Estate Tax Planning

    Introduction to the Course:

    Estate Tax Planning examines the various aspects of planning for the estate tax liability. The course begins with a discussion of the genesis of estate taxation in English common law and continues with an examination of the estate and its administration.


    The subjects discussed in the course are a) the estate and its administration, b) federal gift and estate taxes, c) common estate planning trusts, d) calculating federal estate taxes, e) state inheritance and estate taxation, and f) estate tax payment. The text serves as an introduction to the issues of estate settlement and includes a discussion of the probate estate and the federal gross estate.


    The steps taken to calculate federal estate tax liability are discussed. In that discussion, the federal gross estate, tentative taxable estate, taxable estate and tentative tax are examined. The various estate tax credits and deductions are considered and their place in the federal estate tax calculation is explained.


    The role of trusts in estate tax minimization is considered. The common trusts employed in estate tax planning are explained, and the uses of credit shelter trusts, QTIP trusts and irrevocable life insurance trusts are demonstrated. State death taxes are considered, and inheritance taxes are compared to estate taxes with respect to the party liable for payment and the role of decedent/beneficiary relationships in inheritance taxation. Finally, the traditional sources of estate tax payment are examined and compared.

    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Identify the components of an estate for tax purposes and a probate estate;
    • Identify the assets that comprise the federal gross estate;
    • Recognize state inheritance taxes and estate taxes and the typical beneficiary classifications for state inheritance tax purposes;
    • Indicate how gifts are taxed under the federal gift tax system;
    • Recognize the deductions and credits allowed under the federal system of estate taxation;
    • Identify the common trusts employed in estate tax planning;
    • Select items to include or exempt to perform an estate tax calculation; and
    • Identify the methods of estate tax payment and their cost consequences.

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

  • Tax Treatment of Lif...
    Tax Treatment of Life Insurance Proceeds

    Introduction:

    One of the important considerations in many financial transactions is the tax treatment the transaction is given. Often, the impact of taxation is a consideration in the purchase of life insurance every bit as much as it applies to stock purchases, bond purchases and the establishment of qualified retirement plans.


    In this course we will look at the tax treatment given proceeds from life insurance policies and will consider the taxation of death benefits, cash value withdrawals, loans and surrenders. In addition, we will examine the differences in tax treatment caused by a life insurance policy's:

    • Failure to meet the statutory definition of life insurance;
    • Being deemed a modified endowment contract;
    • Transfer of ownership to another person for a valuable consideration;
    • Sale in a viatical or life settlement transaction;
    • Ownership by an employer; and
    • Use in a qualified retirement plan.


    Learning Objectives:

    When you have completed this course, you should be able to:

    • Explain the customary income tax treatment given to life insurance policy withdrawals, loans, surrender proceeds and death benefits;
    • Explain how a life insurance contract's failure to meet the statutory definition of life insurance changes its income tax treatment of death benefits and cash values;
    • Describe the changes to the tax treatment of life insurance policy living proceeds resulting from the policy being deemed a modified endowment contract;
    • Discuss the income tax treatment given to life insurance policy death benefits when the life insurance policy has been transferred for a valuable consideration;
    • Compare the tax treatment of life insurance death benefits under a policy included in a qualified plan with the tax treatment of nonqualified life insurance death benefits;
    • Identify the types of life insurance exchanges that are tax-free under IRC section 1035;
    • Define the terms "terminally-ill" and "chronically-ill" as used in the Health Insurance Portability and Accountability Act; and
    • Describe the income tax treatment of accelerated death benefits, viatical settlements and life settlements.


    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Tax Treatment of Sic...
    Tax Treatment of Sickness and Injury Plans

    Introduction:

    Health insurance is so central to the health and well-being of people that it may be hard for many Americans to believe it could ever have been a less important factor in helping to promote good health than it is today. In fact, health insurance as it is recognized today is a relatively recent development.


    Since the early development of health insurance coverage, many changes have occurred in the manner in which health care services are delivered and paid for. Among those changes is the emergence of various tax-favored health plans. This course will examine many of those tax-favored health plans.

    Learning Objectives:

    Upon completion of this course, you should be able to:
    • Describe the tax treatment of premiums for and benefits from health insurance policies;
    • Explain the rules governing health savings accounts and Archer medical savings accounts, including their requirements and limits relative to -
      • Eligibility,
      • Contributions,
      • Distributions,
      • Transfers, and
      • Rollovers;
    • Clarify the elements of a health reimbursement account and its tax treatment;
    • Compare the tax treatment of employer-paid and individually-paid disability income insurance policies;
    • Describe the tax treatment of business-related disability coverage, including -
      • Disability overhead expense policies,
      • Disability buyout policies, and
      • Keyperson disability policies; and
    • Explain the tax treatment of long term care insurance.


    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Whose Deduction is i...
    Whose Deduction is it Anyway? Tax Issues for Divorced and Separated Parents

    Course Description:

    This course is not intended as a comprehensive analysis of all the tax issues that arise in the context of divorce or separation. Many of the tax issues that may arise need to be dealt with in a planning context, before a divorce or separation agreement is finalized. Rather, the objective of this course is to review the issues that are most likely to confront the return preparer whose clients are already divorced, separated, or otherwise not married to the other parent of their children.

    Learning Objectives:

    • Recognize the difference in classification between alimony and child support
    • Calculate the dependency exemption allowances in cases of divorce and separation
    • Identify the eligibility of qualifying relatives
    • Determine the various credits available to taxpayers with children


    Duration: 75 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • Retirement Plans, Pe...
    Retirement Plans, Pensions and Annuities

    Introduction:

    Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important "legs" of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal savings - through investment in securities, deferred annuities, savings accounts, etc. - and Social Security retirement benefits. This course will examine qualified employee plans, their limits and their tax treatment along with a discussion of annuities and their taxation.


    Annuities offer their owners the opportunity to systematically liquidate a principal sum or save money for a long-term objective. For many annuity buyers, that objective is to provide income during retirement. As we will see in our examination of annuities, they provide owners with a number of advantages; principal among them is their tax treatment. By purchasing and investing in an annuity, a contract owner can avoid current income taxation of earnings. By avoiding current income taxation, earnings that might have been used to pay current income taxes can be invested to produce additional income.


    Annuities' tax advantages aren't limited to tax deferral, however; annuities offer additional tax advantages. For example, an investor purchasing a variable annuity can change his or her investment allocation in the contract's variable subaccounts whenever desired. Typically, such changes are made in order to implement new objectives or to modify the level of risk assumed. From a tax point of view, the important issue is that the contract owner can make these changes without being required to recognize income as would be required if, for example, the investor liquidated his or her stock portfolio in order to purchase bonds. In addition to these tax benefits, a contract owner that elects to annuitize his annuity contract, i.e. to take a periodic income from it, will find that part of each periodic income payment may be tax free as a return of his or her investment in the annuity contract.


    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Describe the types and characteristics of qualified employee plans;
    • Explain the limits imposed on qualified employee plan contributions and benefits;
    • Describe the requirements applicable to qualified employee plan loans and their tax treatment;
    • Explain the rules governing rollovers to and from qualified employee plans;
    • Apply the federal tax laws to qualified employee plan contributions and distributions;
    • List the principal types of annuities and their characteristics; and
    • Describe how annuity contributions and distributions are taxed.


    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

  • The NASBA approved online 40 hour package for certified public accountants includes courses covering 18 hours of Audit, 2 hours of Ethics, 2 hours of accounting, and 18 hours of Tax. No hidden fees, and all courses are registered with NASBA!

    We offer 24/7 access to our online courses. NASBA requires you to pass an exam with a score of 70% or better in order to receive credit for our online courses. You can take our exams until you pass. Each exam is 5 questions for each hour of CPE credit.

    Courses included in this 40-hour bundle:

    Internal Controls from the Ground Up: Understanding Internal Controls and Assessing Risk Exposure
    2 hours Audit

    Internal Auditor's Toolkit: Essential Skills for Successful Engagements
    4 hours Audit

    Preparing, Conducting, and Evaluating Internal Audit Engagements
    4 hours Audit

    Information Technology for Auditors
    4 hours Audit

    Economic Principles and the Effects of Globalization on Today's Business
    4 hours Audit

    Organizational Dynamics and Risk Management: An Integrated Approach
    2 hours Accounting

    A Risk-Based Approach to Accounting Ethics
    2 hours Ethics


    Healthcare Reform: Tax Provisions of the Affordable Care Act
    4 hours Tax

    Taxation of Lawsuits, Award, and Settlements
    2 hours Tax

    Estate Tax Planning
    3 hours Tax

    Tax Treatment of Life Insurance Proceeds
    2.5 hours Tax

    Tax Treatment of Sickness and Injury Plans
    2.5 hours Tax

    Whose Deduction is it Anyway?
    1.5 hours Tax

    Retirement Plans, Pensions and Annuities
    2.5 hours Tax

Build Your Own

  • Ethics
  • Retirement Plans, Pensions and Annuities

    Introduction:

    Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important "legs" of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal savings - through investment in securities, deferred annuities, savings accounts, etc. - and Social Security retirement benefits. This course will examine qualified employee plans, their limits and their tax treatment along with a discussion of annuities and their taxation.


    Annuities offer their owners the opportunity to systematically liquidate a principal sum or save money for a long-term objective. For many annuity buyers, that objective is to provide income during retirement. As we will see in our examination of annuities, they provide owners with a number of advantages; principal among them is their tax treatment. By purchasing and investing in an annuity, a contract owner can avoid current income taxation of earnings. By avoiding current income taxation, earnings that might have been used to pay current income taxes can be invested to produce additional income.


    Annuities' tax advantages aren't limited to tax deferral, however; annuities offer additional tax advantages. For example, an investor purchasing a variable annuity can change his or her investment allocation in the contract's variable subaccounts whenever desired. Typically, such changes are made in order to implement new objectives or to modify the level of risk assumed. From a tax point of view, the important issue is that the contract owner can make these changes without being required to recognize income as would be required if, for example, the investor liquidated his or her stock portfolio in order to purchase bonds. In addition to these tax benefits, a contract owner that elects to annuitize his annuity contract, i.e. to take a periodic income from it, will find that part of each periodic income payment may be tax free as a return of his or her investment in the annuity contract.


    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Describe the types and characteristics of qualified employee plans;
    • Explain the limits imposed on qualified employee plan contributions and benefits;
    • Describe the requirements applicable to qualified employee plan loans and their tax treatment;
    • Explain the rules governing rollovers to and from qualified employee plans;
    • Apply the federal tax laws to qualified employee plan contributions and distributions;
    • List the principal types of annuities and their characteristics; and
    • Describe how annuity contributions and distributions are taxed.


    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.


    CPE Sponsor Information

    Avoiding Disciplinary Actions for Circular 230 Violations

    Course Description:

    This course outlines the basic sanctions imposed under Circular 230 and the process for imposing them. More importantly, the material digests dozens of disciplinary cases instituted under Circular 230 and categorizes the specific types of conduct leading to sanctions. Upon completing this course the practitioner will have a firm grounding in the patterns of activities that are likely to result in disciplinary actions, those defenses that may be successful, and the excuses that do not work.

    Learning Objectives:

    • Identify the different sanctions the OPR may impose for violations of Circular 230
    • Determine party responsible for violations of Circular 230
    • Recognize the difference between frivolous arguments and reasonable basis
    • Define violations of Circular 230
    Ethics & Tax Practice

    Course Description:

    This general ethics course is designed to provide the tax preparer with an ethical framework that can guide preparers through potential ethical dilemmas. It provides detailed guidance on the specific laws, rules, and regulations that apply to tax return preparation.

    Learning Objectives

    After completing this course, you will be able to:

    • Determine who is and is not allowed to practice before the IRS,
    • Discuss the Internal Revenue Service requirements as outlined in Circular 230, and
    • Understand possible preparer penalties associated with tax return preparation and conduct.
    Tax Preparer Ethics

    Course Description

    Ethics are the values that govern our decisions and actions. Some companies have clearly defined written codes of principles for determining the difference between good and bad behavior. Good ethics boils down to knowing the difference between right and wrong and choosing to do what is right. This course will explore the definition of ethics in the eyes of the Internal Revenue Service, as well as the important covenants contained in Treasury Circular 230, which governs practice before the IRS. Additionally, this course will discuss the various penalties and sanctions available for violation of the rules by individuals allowed to practice.

    Learning Objectives

    After completing this chapter, you will be able to:

    • Explain the role of ethics in the tax preparation industry
    • Explain the IRS rules as outlined in Circular 230.
    • Identify common ethical violations and penalties.
    • Discuss procedures that promote compliance with ethical guidelines.
    Tax Return Preparer Ethical Issues

    Introduction to Course:

    The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek for the knowledgeable assistance of attorneys, CPAs, enrolled agents and registered tax return preparers.

    To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance in:

    • Setting forth rules relating to the authority to practice before the IRS;
    • Identifying the duties and restrictions relating to practice before the IRS; and
    • Prescribing sanctions for violating the regulations.
    This course will examine many of those rules, duties and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers by them and will then present real-world scenarios focusing on specific ethical issues they may encounter in their professional activities. The preparer will be asked to analyze the scenario, identify the ethical issue or issues presented and determine an appropriate response. Learning Objectives Upon completion of this course, you should be able to:
    • Discuss the scope of registered tax return preparer responsibilities;
    • Describe the best practices for tax advisors in preparing or assisting in the preparation of a submission to the Internal Revenue Service;
    • Explain practitioner duties and restrictions with respect to -
      • Information to be furnished to the IRS,
      • The practice of law,
      • Dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws,
      • The requirement for preparer diligence as to accuracy,
      • Return of client records,
      • The existence of conflicts of interest, and
      • Solicitation of business; and
    • List the various sanctions that may be imposed for a preparer's failure to comply with applicable conduct rules.
  • Federal Tax Law Updates
  • Tax Return Preparer Ethical Issues

    Introduction to Course:

    The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek for the knowledgeable assistance of attorneys, CPAs, enrolled agents and registered tax return preparers.

    To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department Circular No. 230. Circular 230 offers substantial guidance in:

    • Setting forth rules relating to the authority to practice before the IRS;
    • Identifying the duties and restrictions relating to practice before the IRS; and
    • Prescribing sanctions for violating the regulations.
    This course will examine many of those rules, duties and restrictions as well as the sanctions imposed for their violation. In that examination of applicable rules, the course will discuss the requirements imposed on tax return preparers by them and will then present real-world scenarios focusing on specific ethical issues they may encounter in their professional activities. The preparer will be asked to analyze the scenario, identify the ethical issue or issues presented and determine an appropriate response. Learning Objectives Upon completion of this course, you should be able to:
    • Discuss the scope of registered tax return preparer responsibilities;
    • Describe the best practices for tax advisors in preparing or assisting in the preparation of a submission to the Internal Revenue Service;
    • Explain practitioner duties and restrictions with respect to -
      • Information to be furnished to the IRS,
      • The practice of law,
      • Dealing with taxpayer omissions, errors and noncompliance with U.S. revenue laws,
      • The requirement for preparer diligence as to accuracy,
      • Return of client records,
      • The existence of conflicts of interest, and
      • Solicitation of business; and
    • List the various sanctions that may be imposed for a preparer's failure to comply with applicable conduct rules.
    Federal Tax Law Update 2012

    Course Description:

    This federal tax law update course is designed for tax preparers who wish to keep up with current developments in tax law.

    Learning Objectives:

    After completing this course, you will be able to...

    • Recognize areas of personal and small business taxes impacted by legislative changes in 2012
    • Recognize the inflation adjusted deductions
    • Identify eligibility for certain deductions
    Fiscal Cliff: Tax Update 2013
    Course Description

    Everyone has heard about it...the fiscal cliff. Amidst discussions of increases in tax rates and decreases in government spending, the question looms for many Americans - what does the fiscal cliff mean to me? Diving into the Fiscal Cliff is an educational program designed to take the guess work out of understanding the definition of a fiscal cliff and how the various provisions affect each of us - regardless of age, status or income.

    Learning Objectives
    • Significant tax provisions of the American Taxpayer Relief Act of 2012
    • Elements of the Affordable Care Act (“Obamacare”) that take effect in 2013
    • New tax rates for ordinary income and capital gains
    • The new 0.9% Medicare tax on wages and self-employment income
    • 3.8% Medicare tax on unearned income
    • The permanent patch to the alternative minimum tax
    • Estate tax revision
    • The two most controversial aspects of Obamacare (the individual mandate and shared responsibility payments for larger employers)

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

  • Other Federal Tax
  • Fiscal Cliff: Tax Update 2013
    Course Description

    Everyone has heard about it...the fiscal cliff. Amidst discussions of increases in tax rates and decreases in government spending, the question looms for many Americans - what does the fiscal cliff mean to me? Diving into the Fiscal Cliff is an educational program designed to take the guess work out of understanding the definition of a fiscal cliff and how the various provisions affect each of us - regardless of age, status or income.

    Learning Objectives
    • Significant tax provisions of the American Taxpayer Relief Act of 2012
    • Elements of the Affordable Care Act (“Obamacare”) that take effect in 2013
    • New tax rates for ordinary income and capital gains
    • The new 0.9% Medicare tax on wages and self-employment income
    • 3.8% Medicare tax on unearned income
    • The permanent patch to the alternative minimum tax
    • Estate tax revision
    • The two most controversial aspects of Obamacare (the individual mandate and shared responsibility payments for larger employers)

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

    1099 Dos and Don'ts

    Course Objectives

    Understanding information reporting using the 1099 series of returns is crucial for the practitioner. Not only are there penalties for failure to file and inaccurate filing, the IRS uses these information returns in its document matching program to identify problems on Form 1040 and other tax returns. Unfortunately, winding your way through the maze of 17 different 1099 varieties can be a challenging task.

    This course is designed to provide needed guidance through the thicket. General rules involving the 1099 series of information returns are discussed, including due dates, penalties, and the proper procedure for correcting errors. In addition, each of the 17 Form 1099 types is reviewed, with special emphasis on Form 1099-MISC, the most common of the information returns.

    Learning Objectives

    Upon completion of this course, you will be able to:

    • Identify the basic rules for preparing and filing Form 1099
    • Recognize the exceptions to the requirement to file Form 1099
    • Select the appropriate version of Form 1099 to file
    • Define the types of transactions that trigger Form 1099-MISC reporting
    • Identify the specific information that must be included on Form 1099-MISC and other 1099s
    • Identify the due date and penalty requirements associated with 1099 filing

    Duration: 100 minutes
    Who Should Attend: All tax practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Self Study - Internet Based
    CPE: NASBA, IRS, CTEC
    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.

    Accuracy & Continuity on Tax Returns

    Course Description:

    In Accuracy & Continuity the course content focuses on illustrating the steps necessary to comply with due diligence standards. The tax preparer must not only explore accuracy on a current year return, but review of a prior year return for figures related to carryovers and depreciation should also be performed. In addition, the course content touches on situations that involve interest and dividend income, RMDs, rental income, and short-and long-term capital gains. Finally, the course provides a brief discussion of basis determination and preparer contingency fees.

    Learning Objectives:

    • Review prior year's return for accuracy, comparison, and carryovers for current year return.
    • Recognize items that will affect future returns (e.g., carryovers, depreciation).
    • Interest Income (taxable and non-taxable) (e.g., Schedule B and 1099-INT).
    • Dividend Income (e.g., Schedule B and 1099-DIV).
    • Rental income and expenses (e.g., Schedule E Supplemental Income and Loss).
    • Required minimum distributions from retirement plans.
    • Short-term and long-term capital gains and losses (e.g., Schedule D Capital Gains and Losses, Form 1099-B Proceeds From Broker and Barter Exchange Transactions).
    • Determination of basis of assets (e.g., purchased, gifted, or inherited).
    • Rules regarding fees, including contingent fees.
    Aspiring Authors Need Not Apply: The Correct Approach to Deducting Travel Expenses

    Objectives:

    It is no longer uncommon for taxpayers to live and work in different metropolitan areas and for organizations to hold meetings and conventions in resort locations. When this is the case, some or all of the taxpayer's travel expenses may be deductible. Tax professionals need to be aware of the myriad of rules surrounding the deductibility of travel expenses in order to adequately advise their clients.

    This course explores the requirements and limits pertaining to deductions for travel expenses. The general requirements are set forth in detail, with specific attention given to travel related to temporary work locations and foreign travel. The concept of a taxpayer's "tax home" is illustrated using numerous examples and explanations. Deduction of travel expenses for medical, charitable, and educational purposes is also addressed.This course explores the requirements and limits pertaining to deductions for travel expenses. The general requirements are set forth in detail, with specific attention given to travel related to temporary work locations and foreign travel. The concept of a taxpayer's "tax home" is illustrated using numerous examples and explanations. Deduction of travel expenses for medical, charitable, and educational purposes is also addressed.

    Learning Objectives:

    • Identify non-deductible commuting expenses from the costs of deductible travel
    • Determine when spousal or companion travel may be deductible
    • Identify how to handle the travel expenses of taxpayers with multiple work locations
    • Recognize when travel expenses have to be allocated between business and non-business activities
    • Recognize the limitation on deductions for lavish or extravagant travel expenditures
    Cancellation of Debt Income
    Course Description:

    Debt cancellation is an increasingly common occurrence, especially in times of a troubled economy. The forgiveness of a debt not only has economic and financial consequences, but also specific tax consequences and the rules regarding these tax consequences can be complicated. Taxpayers and their advisors attempting to navigate through these turbulent waters will need a compass; this course is designed to provide that compass.

    Those who fail to abide by the complex requirements of recognizing and excluding cancellation of debt ("COD") income may encounter unpleasant surprises. In this course we will explore the basic rules for both the inclusion of COD income in gross income and the circumstances in which COD income can be excluded; delving into each exclusion in some detail. Using examples to illustrate the application of the rules to specific situations, we will address calculation of the inclusion amount, the consequence of tax attribute reduction following exclusion, and the complicated issues related to attribute reduction in the context of S corporation and partnership borrowers.



    Learning Objectives:

    After completing this course you will be able to:

    • Recognize the COD income rules
    • Identify circumstances in which COD income has to be included and those in which it may be excluded from your clients' gross incomes
    • Classify how to report both the income resulting from a cancellation of debt and the tax attribute reduction necessary when an exclusion applies
    • Define key terms such as income and insolvency
    Children - Tax and Wealth Preservation Issues

    This course offers tax professionals practical information on current law, principles, and practices of income taxation and the impact on financial planning for families.  The course objective is to review key principles of individual income tax planning as they relate to families.

    • Children and Federal Income Taxes
    • Special Taxation Issues and Considerations Involving Minor Children
    • Approaches to Funding Education
    • Transferring Assets to Minors
    • Life Insurance in Planning for Minors
    • Transferring Retirement Benefits
    • Planning After Death for Care of Minor Children
    Earned Income Tax Credit and Preparer Responsibilities

    Course Description

    The recent economic downturn and expansion of the Earned Income Tax Credit ("EITC") means that more and more professional preparers will be encountering clients who may be eligible for the credit. While this might be welcomed news for taxpayers, it presents a minefield of dangers for preparers. Unlike other tax credits, the EITC imposes special compliance burdens on those who prepare the return, exposing tax professionals to potentially severe consequences for a lack of due diligence. In this environment there is no substitute for a thorough understanding of preparer obligations.

    This course explores the general requirements for the EITC and focuses on the preparer's responsibilities when undertaking to prepare a return claiming the credit. The due diligence requirements are set forth in detail, with examples illustrating the application of the basic principles involved. After completion of this course you will be sufficiently acclimated to the EITC preparer rules to confidently prepare returns for lower income clients.

    Learning Objectives

    • Recognize key definitions and terms used when discussing the EITC, such as earned income, due diligence, and qualifying child
    • Calculate refunds using threshold numbers, and tax liability and payment data
    • Identify EITC error rates, frequency of fraudulent returns, and preparer penalties
    • Identify the various steps within the due diligence process, including requirement for Form 8867 and preparer obligation to evaluate information provided by the taxpayer
    • Recognize the eligibility requirements for the EITC
    • Identify record-keeping requirements associated with EITC credit documentation

    Duration: 100 minutes
    Who Should Attend: All tax practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Self Study - Internet Based
    CPE: NASBA, IRS, CTEC
    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.

    Education Tax Benefits

    Introduction:

    Few advantages are as sought after by parents for their children than an education that will enable them to grow professionally and enjoy the benefits such an education can help bestow. The federal government supports and encourages their efforts to provide that education through various programs and income tax incentives.

    This course will examine the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual's education. In so doing, it will consider:

    • Qualified tuition programs;
    • Coverdell education savings accounts;
    • The education savings bond program;
    • Federal tax credits for education;
    • The federal tax treatment of scholarships, fellowships, grants and tuition reductions; and
    • Deductions available for student loan interest, tuition and fees.

    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Describe the features of the types of qualified tuition programs available under IRC section 529;
    • Explain the tax benefits provided under an IRC section 529 qualified tuition program;
    • Identify the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA);
    • Describe the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses;
    • Explain how the American opportunity and lifetime learning credits operate;
    • Illustrate the tax treatment of scholarships, fellowships and other types of educational assistance; and
    • Explain the federal income tax rules applicable to student loan interest, payment of tuition and fees, and student loan cancellations and repayment assistance.
    Estate Planning Overview

    Estate and end-of-life planning is a topic for which many people often seek the guidance of an experienced tax advisor. Issues such as preparing a will, incorporating a trust, or using life insurance as a means to reduce estate tax are generally hot topics. Professionals such as Attorneys, Financial Planners, and Tax Advisers commonly contribute to the process and work together to identify the best solution for the client. A Tax Adviser who is not authorized to practice law must rely on those duly qualified to prepare the appropriate planning documents. It is important that all professionals involved understand the fundamentals of estate planning in order to navigate their clients through the evolving regulations surrounding wealth transfer.

    Objectives of this course:

    • Understand estate planning basics
    • Reduce transfer taxes using available credits and exemptions
    • Transfer property outside of probate
    • Effectively utilize life insurance and annuities in estate planning
    • Develop an understanding of popular trust instruments
    Estate Tax Planning

    Introduction to the Course:

    Estate Tax Planning examines the various aspects of planning for the estate tax liability. The course begins with a discussion of the genesis of estate taxation in English common law and continues with an examination of the estate and its administration.


    The subjects discussed in the course are a) the estate and its administration, b) federal gift and estate taxes, c) common estate planning trusts, d) calculating federal estate taxes, e) state inheritance and estate taxation, and f) estate tax payment. The text serves as an introduction to the issues of estate settlement and includes a discussion of the probate estate and the federal gross estate.


    The steps taken to calculate federal estate tax liability are discussed. In that discussion, the federal gross estate, tentative taxable estate, taxable estate and tentative tax are examined. The various estate tax credits and deductions are considered and their place in the federal estate tax calculation is explained.


    The role of trusts in estate tax minimization is considered. The common trusts employed in estate tax planning are explained, and the uses of credit shelter trusts, QTIP trusts and irrevocable life insurance trusts are demonstrated. State death taxes are considered, and inheritance taxes are compared to estate taxes with respect to the party liable for payment and the role of decedent/beneficiary relationships in inheritance taxation. Finally, the traditional sources of estate tax payment are examined and compared.

    Learning Objectives:

    Upon completion of this course, you should be able to:

    • Identify the components of an estate for tax purposes and a probate estate;
    • Identify the assets that comprise the federal gross estate;
    • Recognize state inheritance taxes and estate taxes and the typical beneficiary classifications for state inheritance tax purposes;
    • Indicate how gifts are taxed under the federal gift tax system;
    • Recognize the deductions and credits allowed under the federal system of estate taxation;
    • Identify the common trusts employed in estate tax planning;
    • Select items to include or exempt to perform an estate tax calculation; and
    • Identify the methods of estate tax payment and their cost consequences.

    Duration: 150 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study
    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.

    CPE Sponsor Information

    Fundamentals of Entity Selection

    Assisting a client in choosing the best business structure is a challenging task that requires a combination of skills and knowledge. There is much riding on your ability as a tax professional to help entrepreneurs or existing business select the "perfect form." Not only will this decision affect their ability to achieve their specific business objectives, it will also determine how well their assets are protected.

    Later, you will read about a small business owner, Deborah Williams, who receives insufficient help from her first accountant when incorporating her small computer business. It cost her dearly before she finally consulted a different tax professional, someone more knowledgeable in this arena.

    This course is designed to provide you with the information you need to be of similar value to your clients. In particular, it focuses on the tax advantages and disadvantages of S & C Corporations, LLCs, LLPs and Sole Proprietorships. It will target and explore many of the major factors that drive the initial decision of entity selection, as well as special circumstances that arise during the course of doing business.

    Gains on Sales of Qualified Small Business Stock

    Course Description:

    The tax incentives under I.R.C. section 1202 provide taxpayers with an opportunity to maximize potential tax savings, while making investment in small businesses more attractive. Historically, section 1202 has allowed for a 50% exclusion for gains recognized with respect to the stock of qualified small business corporations that are not S corporations.

    Legislation enacted in late 2010 has once again temporarily increased the exclusion on QSBS to 100% on purchases in 2011. However, in order to realize the benefits afforded under this provision, careful navigation of the many complex rules related to the acquisition and subsequent sale of qualified small business stocks is needed.

    Course Objectives:

    In this course, you will learn:

    • What gains are eligible for exclusion under section 1202
    • Current tax treatment of QSBS
    • Pre-issuer limitation on eligible gains
    • Five-year holding period
    • Operating rules related to pass-through entities
    • Offsetting short positions and application limitations of section 1202
    Gliders, Geldings, and Gamblers: A Review of the Hobby Loss Rules

    Course Description:

    The IRS routinely targets activities engaged in by taxpayers for analysis under Internal Revenue Code §183, the so-called "hobby loss" rules. While taxpayers are allowed to deduct losses from business activities against other income, losses subject to Code section 183 are disallowed, and deductions are limited to the income generated from such activities. Dozens of cases involving this issue are decided by the Tax Court every year underlining the need for practitioners to be aware of what to look for (and look out for) when advising their clients about the deductibility of business activity losses. The problem is that these rules are really nothing more than a series of factors and the resolution of any case is fact-specific.

    The purpose of this course is to provide the practitioner with an overview of the common factual elements found in these cases so that they can be better prepared to help their clients navigate these difficult waters.

    Learning Objectives:

    • Identify the required method for allocating expenses pursuant to Code §183
    • Name the elements of the 10-part test under the hobby loss rules
    • Recognize a "for-profit" activity
    • Recognize and determine the deductible expenses when an activity fails to meet the "profit motive" test
    Health Insurance Deductions & the S Corporation Shareholder

    Scope: This course will cover how health insurance, including medical insurance and accident insurance, should be handled for S corporations and S corporation shareholder-employees.  In particular, the course will focus on IRS Notice 2008-1, Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees.

    Learning Objectives:

    • Review the employment status of shareholders in an S corporation
    • Review how to treat medical insurance premiums in an S corporation
    • Understand which rules apply to two-percent shareholder-employees in S corporations
    • Understand how IRS Notice 2008-1, Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees, affects deductions
    • Review how to report medical insurance premiums on both shareholder-employee 1040 and W-2 forms
    Healthcare Reform: Tax Provisions of the Affordable Care Act

    Introduction to the Course:

    The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.

    In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.

    In so doing, it will consider the:

    • Coverage-related provisions of the PPACA addressing -
      • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
      • The prohibition of pre-existing condition exclusions,
      • The proscription of lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections,
      • The general requirement for universal health care coverage, and
      • The requirement that plans covering children extend child coverage until age 26;
    • Tax credits available to small businesses to encourage them to sponsor employee health plans;
    • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
    • Various personal income tax changes affecting taxpayers; and
    • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.


    Learning Objectives

    Upon completion of this course, you should be able to:

    • Describe the principal healthcare provisions of the PPACA;
    • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
    • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
    • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

    Duration: 200 minutes
    Who Should Attend: All tax and accounting practitioners advising individual and business clients
    Course Level: Intermediate
    Prerequisite: None
    Advance Preparation: None
    Delivery Method: Online Self-Study (QAS)
    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.

    CPE Sponsor Information

    Marital Status and the Adoption Credit, 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 instances which qualify for deduction of expenses in the process of a move and in relation to the sale of a primary residence.

    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)).
    • 6.8. Safeguarding taxpayer information - (e.g., Publication 4600 Safeguarding Taxpayer Information, Quick Reference Guide for Business, IRC 7216).
    Offers-in-Compromise: Navigating the Process

    While Congress has given the IRS the authority to compromise tax liabilities for less than the full amount due, the law never compels the IRS to accept an offer-in-compromise. Thus the key to representing taxpayers in offer-in-compromise situations is to be fully aware of the internal procedures and ground rules that the IRS has established for itself. By reviewing these procedures and showing you how to intelligently utilize the IRS rules for the benefit of your clients, this course will equip you to successfully navigate the sometimes treacherous waters of the offer-in-compromise. The objectives of this course include familiarizing you with the basics of doubt as to liability and effective tax administration offers, while providing you will specific tools and references for handling doubt as to collectability cases.

    Passive Activity Loss Limitations

    Course Objectives

    A common mistake made in tax preparation is the deduction of losses from passive activities without regard to the limits applicable to those losses. While rental real estate activities often generate passive losses, the passive loss limitation rules apply to a broad range of activities and are of particular concern to S corporation shareholders, partners, and members of limited liability companies. Furthermore, until further guidance is issued, the rules may be particularly tricky to apply with respect to LLC membership interests. The objectives of this course are to provide the practitioner with a sound understanding of the basic rules related to passive activity loss limitations and their application in common scenarios. The course covers the relevant definitions and exceptions regarding passive loss limitations with which every tax practitioner should be familiar.

    Practice Requirements and Discipline Under Circular 230

    Course Category: Other Federal Tax Law

    Practicing before the IRS can be both rewarding and frustrating. A big part of limiting that frustration is obtaining a thorough understanding of the mechanisms in place regulating the authorization to practice before the IRS and disciplinary proceedings instituted by the IRS Office of Professional Responsibility. What does and does not constitute "practice before the IRS" is a somewhat elusive concept, and through this course you will obtain a solid understanding of what it means. You will also learn the basic requirements for being an authorized practitioner, including the rules regulating appraisers, enrolled retirement plan agents, and the new category of registered tax return preparers. Finally, this course will walk you through the steps of a disciplinary proceeding, giving you valuable tips and insights to help you achieve the most favorable result possible should you ever have to face allegations of Circular 230 violations.

    Preparing Returns with Multiple Income Sources

    Course Description:

    This illustrative course is designed to provide a more tangible experience to understanding tax preparation. The course content will identify possible sources of taxable income, examine self-employment income and the necessity to make estimated payments, and generally explains the initial steps taken at the beginning of the return process.

    Learning Objectives:

    • Determine all sources of taxable and non-taxable income (e.g., wages, interest, business, sale of property, dividends, rental income, income from flow-through entities, alimony, government payments, and pension distributions).
    • Self-employment income and expenses (e.g., Schedule C Profit or Loss from Business and Form 1099-MISC Miscellaneous Income, cash).
    • Other income (e.g., alimony, barter income, hobby income, non taxable combat pay, state income tax refund from prior years, prizes).
    • Sale of non-business assets (gains or losses).
    • Self-employment tax (e.g., Schedule SE Self-Employment Tax).
    • Understand payment options (e.g., check, direct debit, EFTPS, credit card, installment agreement-Form 9465).
      Reporting Foreign Income, Accounts, and Assets

      Course Description:

      Reporting of foreign assets, accounts, and income are now high on the agenda for the IRS, and severe penalties may be imposed, even for innocent missteps. The complex nature of the requirements, coupled with a lack of familiarity shared by many taxpayers and practitioners makes these issues particularly important today. This course is designed to provide you with the tools necessary to tackle these issues effectively and efficiently.

      Learning Objectives:

      In this course you will learn about the various requirements for reporting foreign income and assets.

      • Recognize the basic rules for income tax reporting of foreign earned income.
      • Learn about the new foreign financial asset reporting requirements on IRS Form 8938
      • Understand the newly-emphasized "FBAR" filing requirements for foreign financial accounts.
      Representing Taxpayers Before the IRS

      This is a basic level course that describes the contexts in which the Internal Revenue Service ("IRS") interacts with taxpayers in circumstances where representation of the taxpayer would be appropriate. The specific objectives of this course are to arm you with the necessary knowledge and skills to effectively represent taxpayers before the IRS with respect to both audits and collection activity. Using examples and illustrations, this course will familiarize you with the forums in which the IRS is encountered, the methods and procedures of each, and suitable responses to IRS communications. You will learn to distinguish "real" deadlines imposed by law from suggested response dates. Upon completion of this course you will have a better understanding of the options available to assist your clients at various stages of the controversy process, what to expect from IRS personnel, and what is expected of you as a taxpayer representative.

      Retirement Plans, Pensions and Annuities

      Introduction:

      Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important "legs" of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal savings - through investment in securities, deferred annuities, savings accounts, etc. - and Social Security retirement benefits. This course will examine qualified employee plans, their limits and their tax treatment along with a discussion of annuities and their taxation.


      Annuities offer their owners the opportunity to systematically liquidate a principal sum or save money for a long-term objective. For many annuity buyers, that objective is to provide income during retirement. As we will see in our examination of annuities, they provide owners with a number of advantages; principal among them is their tax treatment. By purchasing and investing in an annuity, a contract owner can avoid current income taxation of earnings. By avoiding current income taxation, earnings that might have been used to pay current income taxes can be invested to produce additional income.


      Annuities' tax advantages aren't limited to tax deferral, however; annuities offer additional tax advantages. For example, an investor purchasing a variable annuity can change his or her investment allocation in the contract's variable subaccounts whenever desired. Typically, such changes are made in order to implement new objectives or to modify the level of risk assumed. From a tax point of view, the important issue is that the contract owner can make these changes without being required to recognize income as would be required if, for example, the investor liquidated his or her stock portfolio in order to purchase bonds. In addition to these tax benefits, a contract owner that elects to annuitize his annuity contract, i.e. to take a periodic income from it, will find that part of each periodic income payment may be tax free as a return of his or her investment in the annuity contract.


      Learning Objectives:

      Upon completion of this course, you should be able to:

      • Describe the types and characteristics of qualified employee plans;
      • Explain the limits imposed on qualified employee plan contributions and benefits;
      • Describe the requirements applicable to qualified employee plan loans and their tax treatment;
      • Explain the rules governing rollovers to and from qualified employee plans;
      • Apply the federal tax laws to qualified employee plan contributions and distributions;
      • List the principal types of annuities and their characteristics; and
      • Describe how annuity contributions and distributions are taxed.


      Duration: 150 minutes
      Who Should Attend: All tax and accounting practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Online Self-Study (QAS)
      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.


      CPE Sponsor Information

      Roth IRAs

      Course Description:

      This course will cover material pertinent to the setup of a Roth IRA. It will provide overviews of the Roth eligibility, contribution limits and rules regarding distributions, as well as information about conversions. This course will also discuss beneficiary selection and other ways of receiving/designating Roth IRA funds.

      Learning Objectives:

      • Understand the various rules related to creation of a Roth IRA
      • The eligibility requirements, contribution limits and distribution regulations
      • Address issues encountered during conversions
      • Inform of retirement strategies
      • Handling beneficiary issues
      Self-Employment, Education Credits and Estimating Tax

      Course Description:

      This course was designed to expose the tax professional to a more complex level of tax return preparation. In addition to discussing adjustments to gross income, the course content will cover what constitutes self-employment income, the items which qualify as education in order to claim education credits, and guidelines for paying estimated tax payments. In addition, the course will briefly discuss deductible expenses related to work related travel and entertainment.

      Learning Objectives:

      • Determine applicable adjustments to gross income (e.g., self-employed health insurance, self employment tax, student loan interest deduction, alimony paid, tuition, and fees deduction).
      • Determine filing requirements (including extensions and amended returns).
      • Identification of forgiveness of debt as income (including Form 1099-C Cancellation of Debt).
      • Self-employment tax adjustment to income (e.g., Schedule SE Self-Employment Tax).
      • Tuition and fees - (e.g., Form 8917 Tuition and Fees Deduction, Form 1098T Tuition Statement).
      • Education credits - (e.g., Form 8863 Education Credits (American Opportunity and Lifetime Learning Credits), Form 1098T Tuition Statement).
      • Employee travel, transportation, education, and entertainment expenses - (e.g., Form 2106-EZ and Form 2106 Unreimbursed Employee Business Expenses).
      • Understand estimated tax payment requirements (e.g., potential for penalties, Form 1040-ES Estimated Tax).
      Single - With Dependents

      Course Description:

      In this illustrative course the goal is to address the various credits and exemptions available to single parents. In addition to the child tax credit and the child care credits, many single parents qualify for the Earned Income Tax Credit. This credit is not only available to taxpayers with children, and this course strives to review the key determining factors in evaluating a taxpayer for qualification. Unreported social security and Medicare is also addressed, particularly as it relates to the receipt of tip income.

      Learning Objectives:

      • Determine applicable credits (e.g., earned income tax credit, child tax credit, education, retirement savings, and dependent and child care credit).
      • Determine special filing requirements (e.g., presidentially declared disaster areas).
      • Determine qualifying child/relative tests for Earned Income Credit.
      • Earned Income Tax Credit (EITC) (e.g., Schedule EIC Earned Income Credit, Form 8867 Paid Preparer's Earned Income Credit Checklist).
      • Unreported Social Security and Medicare tax - (e.g., Form 4137 Social Security and Medicare Tax on Unreported Tip Income).
      • Appropriate use of Form 8867 Paid Preparer's Earned Income Credit Checklist and related penalty for failure to exercise due diligence (e.g., IRC 6695(g)).
      Small Business Retirement Plans

      Introduction:

      Retirement plans offer benefits to both business owners and employees alike. For owners, it provides a way to control costs while creating an attractive package to lure perspective employees, or even reward existing employees. In turn, employees, craving financial security, are presented with an opportunity to set something aside for the later years.

      Tax-advantaged retirement plans offer small businesses one of the best ways to save. Not only do they allow business owners the opportunity to save money, tax-free, in investment accounts, but the contributions are exempt from federal taxes and, depending on the location, state taxes as well.

      This course explores the advantages and incentives of creating a retirement plan, as well as the retirement plan options available to small business owners. Several types of plans are available, and fall into two broad categories, Defined Contribution (DC) and Defined Benefit (DB) plans. An overview of the more commonly utilized plans is provided.

      Something Old, Something New, Some Divorce Tax Issues for You

      Course Description:

      This federal tax law course is designed to provide the tax preparer with necessary information to assist taxpayers in the process of divorce or who have recently completed divorce. The course provides information on how to elect filing status, how to deal with separation of property following divorce, and circumstances involved in common law or same sex marriages.

      Learning Objectives:

      After completing this course, you will be able to...

      • Understand the rules of transfers of property incident to divorce
      • Determine appropriate filing status for divorcing and divorced couples
      • Identify eligibility for deductions in situations of community property
      • Understand rules for same sex unions
      Tax Implications of Bankruptcy

      Scope: This course will cover the tax implications of Chapter 7, Chapter 11, and Chapter 13 bankruptcies for individuals and businesses.

      It will provide overviews of the different types of bankruptcies available to consumers and businesses, the bankruptcy process, and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

      This course will also discuss tax compliance requirements under the Bankruptcy Code.

      Learning Objectives:

      • Recognize the different types of bankruptcies available to debtors
      • Understand a debtor's tax liability
      • Review the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA of 2005)
      • Understand the tax implications of each type of bankruptcy
      • Recognize the circumstances in which debts can be cancelled
      • Understand the difference between secured and unsecured tax claims
      • Understand the tax compliance requirements under the Bankruptcy Code
      • Review circumstances which can result in a debt being discharged under the Bankruptcy Code
      Tax Issues Related to Small Construction Contractors

      Course Description:

      The construction industry presents a variety of tax complexities for preparers. Among the difficulties is the generally required use of the percentage of completion method of accounting for construction contracts and the application of the look-back interest rules. Fortunately, there are exemptions for some of these complexities for the smaller construction contractor.

      Learning Objectives:

      • Understand the concept of the percentage of completion method of accounting
      • Recognize the general rules for selecting an appropriate accounting method
      • Compare and contrast cash method and accrual method of accounting
      • Understand the Completed Contract Method and Exempt-Contract Percentage-of-Completion Method (EPCM)
      • Learn about AMT and its effect on long-term contract adjustment, S corporations, partnerships and look-back
      • Study the pros and cons of long-term accounting methods
      Tax Planning for Individuals and Sole Proprietors

      For most people tax is nothing more than a three-letter word. How many people willingly part with their hard-earned money for taxes? Not many! Mention paying taxes and all those age-old arguments about "why do we pay taxes anyways" and "what do I get?" come gushing back to the surface. While that is no doubt a topic that will continue to be debated for eons, precious few would dispute the benefits that tax planning can offer. Well, at least not after the tax professionals with whom they are working do bit of prodding, gently extolling the virtues of early and concentrated year-round tax planning.

      This is the de facto mission of all professional tax planners. With this in mind, the following course describes practical and effective tax-planning techniques in several individual taxpayer areas, and across many income levels, that can be used throughout the year.

      Tax Rules Related to Ministers and Clergy

      Course Objectives

      While practitioners may be familiar with the basic concepts related to tax exempt organizations, many fail to understand the various exceptions and special rules that apply to ministers. Although tax exemption only applies to organizations, a host of special rules, including certain exemptions from gross income, apply to the individuals that perform ministerial services for churches and religious orders. The issues can be tricky to spot, and a lack of knowledge about the special tax treatment afforded to ministers can result in an over- or under-payment of tax.

      This course is designed to remedy any weaknesses the practitioner may have in his or her understanding of the tax rules applicable to ministers. The relevant definitions are explored, as well as the major issues of withholding, self-employment tax, and the parsonage allowance are covered, including other common income and expense issues.

      Learning Objectives

      • Determine the difference in classification of out-of-pocket costs as business expenses or charitable contributions
      • Identify all sources of income and determine which sources are included in gross income, and which sources are included in self-employment income
      • Understand the concepts of burden of proof and donative intent in determining whether a payment is a gift or compensation
      • Become familiar with the rules for payments to retired ministers, including the classification of payments received under a pension plan
      • Understand the rules pertaining to the treatment and classification of the parsonage allowance, fair rental value, and amounts spent on utilities
      • Calculate gross income for federal income tax purposes, as well as self-employment tax purposes
      • Define various clergy-related terms such as religious order, vestments, and vow of poverty

      Duration: 100 minutes
      Who Should Attend: All tax practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Self Study - Internet Based
      CPE: NASBA, IRS, CTEC
      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.

      Tax Treatment of Individual Retirement Arrangements

      Introduction:

      Federal tax policy is designed to accomplish numerous goals, from funding government to encouraging socially-beneficial actions such as saving for retirement. ERISA, the Employee Retirement Income Security Act, was created principally to meet the latter objective.

      ERISA created an individual retirement arrangement-usually referred to simply as an IRA-to encourage taxpayers who were not participants in an employer-sponsored qualified retirement plan to save money to fund their future retirement needs. That was the initial legislative action. In order to participate, you needed to be employed and not a part of a pension, profit-sharing or other qualified plan.

      These early ERISA provisions offering tax benefits to individuals funding IRAs have been extended in subsequent legislative actions to:

      • Unemployed spouses;
      • Qualified retirement plan participants; and
      • Taxpayers preferring tax-free distributions instead of deductible contributions.

      Early expansion of the IRA provisions added a spousal IRA that is designed to provide retirement assistance to uncompensated homemakers. It was also expanded to allow employees who are covered under an employer-sponsored qualified pension or profit-sharing plan to contribute to an IRA.

      Since that earlier ERISA expansion related to IRAs, new IRAs have been added, including Roth IRAs that offer tax-free qualified distributions rather than deductible contributions. In order to differentiate the newer Roth IRA from its earlier cousin, the original IRA is now referred to as a "traditional" IRA.

      Learning Objectives:

      Upon completion of this course, you should be able to:

      • Discuss the rules governing eligibility and permitted contribution levels applicable to traditional and Roth IRAs;
      • Identify the requirements and benefits related to a spousal IRA;
      • Explain the tax treatment of contributions to and distributions from traditional and Roth IRAs;
      • Describe the benefits of tax-deferred accumulation; and
      • Discuss traditional and Roth IRA distribution rules.
      Tax Treatment of Life Insurance Proceeds

      Introduction:

      One of the important considerations in many financial transactions is the tax treatment the transaction is given. Often, the impact of taxation is a consideration in the purchase of life insurance every bit as much as it applies to stock purchases, bond purchases and the establishment of qualified retirement plans.


      In this course we will look at the tax treatment given proceeds from life insurance policies and will consider the taxation of death benefits, cash value withdrawals, loans and surrenders. In addition, we will examine the differences in tax treatment caused by a life insurance policy's:

      • Failure to meet the statutory definition of life insurance;
      • Being deemed a modified endowment contract;
      • Transfer of ownership to another person for a valuable consideration;
      • Sale in a viatical or life settlement transaction;
      • Ownership by an employer; and
      • Use in a qualified retirement plan.


      Learning Objectives:

      When you have completed this course, you should be able to:

      • Explain the customary income tax treatment given to life insurance policy withdrawals, loans, surrender proceeds and death benefits;
      • Explain how a life insurance contract's failure to meet the statutory definition of life insurance changes its income tax treatment of death benefits and cash values;
      • Describe the changes to the tax treatment of life insurance policy living proceeds resulting from the policy being deemed a modified endowment contract;
      • Discuss the income tax treatment given to life insurance policy death benefits when the life insurance policy has been transferred for a valuable consideration;
      • Compare the tax treatment of life insurance death benefits under a policy included in a qualified plan with the tax treatment of nonqualified life insurance death benefits;
      • Identify the types of life insurance exchanges that are tax-free under IRC section 1035;
      • Define the terms "terminally-ill" and "chronically-ill" as used in the Health Insurance Portability and Accountability Act; and
      • Describe the income tax treatment of accelerated death benefits, viatical settlements and life settlements.


      Duration: 150 minutes
      Who Should Attend: All tax and accounting practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Online Self-Study (QAS)
      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.


      CPE Sponsor Information

      Tax Treatment of Sickness and Injury Plans

      Introduction:

      Health insurance is so central to the health and well-being of people that it may be hard for many Americans to believe it could ever have been a less important factor in helping to promote good health than it is today. In fact, health insurance as it is recognized today is a relatively recent development.


      Since the early development of health insurance coverage, many changes have occurred in the manner in which health care services are delivered and paid for. Among those changes is the emergence of various tax-favored health plans. This course will examine many of those tax-favored health plans.

      Learning Objectives:

      Upon completion of this course, you should be able to:
      • Describe the tax treatment of premiums for and benefits from health insurance policies;
      • Explain the rules governing health savings accounts and Archer medical savings accounts, including their requirements and limits relative to -
        • Eligibility,
        • Contributions,
        • Distributions,
        • Transfers, and
        • Rollovers;
      • Clarify the elements of a health reimbursement account and its tax treatment;
      • Compare the tax treatment of employer-paid and individually-paid disability income insurance policies;
      • Describe the tax treatment of business-related disability coverage, including -
        • Disability overhead expense policies,
        • Disability buyout policies, and
        • Keyperson disability policies; and
      • Explain the tax treatment of long term care insurance.


      Duration: 150 minutes
      Who Should Attend: All tax and accounting practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Online Self-Study (QAS)
      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.


      CPE Sponsor Information

      Taxation of Daycare Providers

      Course Description

      It is estimated that over 130,000 daycare businesses employ almost one million workers in the U.S. Most of these businesses have five or fewer employees, and many are sole proprietorships run out of the owner's home. Many daycare providers are unaware of, or simply misapply, the somewhat confusing tax rules to which they are subject. This course guides the practitioner through the tax complexities, focusing on the proper determination of deductions, so that you may be better positioned to identify the issues and help your client minimize tax burden and the chance of noncompliance.

      Learning Objectives

      • Identify different types of daycare providers
      • Identify the standards by which an expense is classified as a business deduction
      • Understand which types of property qualify for depreciation deductions, as well as rules for determining basis
      • Determine sources of business expenses such as business related travel, payments for food and toys, start-up costs, and business use of home
      • Identify when a daycare provider can consider bad debt as an expense
      • Understand rules for paying wages and compensation to all levels of employees, including family members and independent contractors, as well as classification of payments made to the business owner

      Duration: 100 minutes
      Who Should Attend: All tax practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Self Study - Internet Based
      CPE: NASBA, IRS, CTEC
      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.

      Taxation of Lawsuits, Awards, and Settlements

      Course Objectives

      This course describes the various tax consequences that arise when the taxpayer receives or pays a lawsuit judgment, award, or settlement. Both gross income inclusion rules and tax deduction issues are discussed and illustrated with examples from case law and IRS rulings. The payment of attorney's fees is also covered extensively. After taking this course you should be able to accurately assess the tax ramifications of damages and settlements received or paid by your clients and assist your client and counsel representing your client in structuring lawsuits and settlement agreements.

      Learning Objectives

      Upon completion of this course you will be able to:

      • Identify damage awards and settlements that are taxable
      • Recognize which legal expenses are deductible
      • Choose appropriate approaches to settling legal disputes to achieve favorable tax consequences
      • Describe how to report attorney's fees with respect to legal disputes
      • Indentify the tax consequences of divorce, contract, and other types of legal cases

      Duration: 100 minutes
      Who Should Attend: All tax practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Self Study - Internet Based (QAS)
      CPE: NASBA, IRS, CTEC
      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.

      CPE Sponsor Information

      The Healthcare Reform Act: A Complete Guide to Understanding the PPACA

      Introduction to the Course:

      The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.
      In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.
      In so doing, it will consider the:

      • Coverage-related provisions of the PPACA addressing -
        • Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,
        • The prohibition of pre-existing condition exclusions,
        • The proscription of lifetime and annual benefit limits,
        • The limitation of health coverage rescissions,
        • The requirement for certain patient protections,
        • The general requirement for universal health care coverage, and
        • The requirement that plans covering children extend child coverage until age 26;
      • Tax credits available to small businesses to encourage them to sponsor employee health plans;
      • Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
      • Various personal income tax changes affecting taxpayers; and
      • Tax credits and tax penalties authorized to help enforce the PPACA requirement that individuals maintain minimum essential coverage.

      Learning Objectives

      Upon completion of this course, you should be able to:

      • Describe the principal healthcare provisions of the PPACA;
      • Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
      • Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them; and
      • Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

      Sample Videos:

      Duration: 250 minutes
      Who Should Attend: All tax and accounting practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Online Self-Study (Video Course) 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.

      CPE Sponsor Information

      Traditional IRAs

      Course Description:

      This course explains the definition of a traditional IRA, and the distributions,contribution limits and age restrictions associated therewith. The course will address transfers and rollovers, recharacterizationsand information regarding beneficiary selection.

      Learning Objectives:

      • Understand the various rules related to creation of a traditional IRA
      • The eligibility requirements and contribution limits
      • Requirement Minimum Distribution (RMD) regulations
      • Address prohibited transactions
      • Inform of retirement strategies including gifting to charities
      • Handle beneficiary issues
      Whose Deduction is it Anyway? Tax Issues for Divorced and Separated Parents

      Course Description:

      This course is not intended as a comprehensive analysis of all the tax issues that arise in the context of divorce or separation. Many of the tax issues that may arise need to be dealt with in a planning context, before a divorce or separation agreement is finalized. Rather, the objective of this course is to review the issues that are most likely to confront the return preparer whose clients are already divorced, separated, or otherwise not married to the other parent of their children.

      Learning Objectives:

      • Recognize the difference in classification between alimony and child support
      • Calculate the dependency exemption allowances in cases of divorce and separation
      • Identify the eligibility of qualifying relatives
      • Determine the various credits available to taxpayers with children


      Duration: 75 minutes
      Who Should Attend: All tax and accounting practitioners advising individual and business clients
      Course Level: Intermediate
      Prerequisite: None
      Advance Preparation: None
      Delivery Method: Online Self-Study (QAS)
      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.


      CPE Sponsor Information

    • Test description
    • Free Courses

      • Whose Deduction is i...
        Whose Deduction is it Anyway? Tax Issues for Divorced and Separated Parents

        Course Description:

        This course is not intended as a comprehensive analysis of all the tax issues that arise in the context of divorce or separation. Many of the tax issues that may arise need to be dealt with in a planning context, before a divorce or separation agreement is finalized. Rather, the objective of this course is to review the issues that are most likely to confront the return preparer whose clients are already divorced, separated, or otherwise not married to the other parent of their children.

        Learning Objectives:

        • Recognize the difference in classification between alimony and child support
        • Calculate the dependency exemption allowances in cases of divorce and separation
        • Identify the eligibility of qualifying relatives
        • Determine the various credits available to taxpayers with children


        Duration: 75 minutes
        Who Should Attend: All tax and accounting practitioners advising individual and business clients
        Course Level: Intermediate
        Prerequisite: None
        Advance Preparation: None
        Delivery Method: Online Self-Study (QAS)
        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.


        CPE Sponsor Information

      Credit Hours:

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      How it Works
      Fast Forward Academy is an approved provider for IRS EA and OTRP, NASBA CPA, plus CTEC continuing education. Here is what you can expect to experience on our world class platform:
      • FFA is a Leader in IRS / TAX CPE
      • Entertaining & Credible Continuing Education
      • All Registered with either the IRS, NASBA, or CTEC
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      Fast Forward Academy is an IRS approved CPE provider - UBWMF Fast Forward Academy is a NASBA QAS approved provider - 116347 Fast Forward Academy is a NASBA QAS approved provider - 116347
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      IRS OTRP CE 15 Hours $39.99 »
      • IRS, NASBA and CTEC Approved - All courses are registered with either the IRS, NASBA and/or CTEC so every course offered applies to one or more of the following credentials: CPA, EA, OTRP, and CRTP designations.
      • Online Courses - Because the content is Web-based, this is self-study and you can start and stop at any time. With an Internet connection at work, home, or on a mobile device you can pick up right where you left off.
      • PDFs for Free - You will always have access to the course content and PDFs can be downloaded to print or load on to an e-reader device or referenced at a later point.
      • Unlimited Exam Attempts - Each course has a simple quiz at the end (5 questions per credit hour). You need a score of 70% or better to pass and you have an unlimited number of attempts for each short exam. Sorry, the IRS requires an exam for online courses.
      • Immediate Certificates - After you pass the quiz, you can access and print your certificate immediately and always come back to access it at a later time if needed.
      • Fast Hours Reporting - Finally, we report your hours to the IRS and CTEC on your behalf! You will get an email confirmation, plus real-time reporting on our CPE Dashboard so you can monitor the reporting status.

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      Questions?
      In the below tabs you will find contact information, answers to our most frequently received questions, and much more!


      CPE Sponsor Information

      CPA CPE Requirements

      Please refer to the AICPA and your individual state boards of accountancy for specific CPE requirements.

      Fast Forward Academy is an IRS approved NASBA QAS provider - 116347

      IRS Enrolled Agent CPE Requirements

      Minimum 16 hours annually, 72 hours every 3 years. FFA recommends taking 24 hours annually to meet 3 year IRS requirements.

      NAEA: 30 hours annually.

      Enrolled Agents are required to take 72 hours of continuing education during the 3-year enrollment cycle, and at least 16 hours for each respective year to maintain their EA license. These 16 hours must include at least 2 hours of enrolled agent ethics or professional conduct education. The continuing education requirements are pro-rated if enrollment occurs in the middle of an enrollment cycle, at a rate of 2 hours required education for each month or part of a month enrolled.

      All continuing education programs are measured in terms of contact hours. A contact hour is 50 minutes of continuous participation in a program. The IRS only grants a tax enrolled agent credit for a full contact hour, i.e., 50 minutes or multiples thereof.

      Qualifying tax CE programs must meet certain standards. A qualified sponsor must run all CPE programs. They must require attendance and must issue a certificate of attendance. The instructor's background, experience, education, and training should be appropriate for the subject matter. The course must provide a written outline, textbook, or suitable electronic educational materials. Self-study courses (including on-line, correspondence and taped program courses) do meet this standard if they require registration by the participant, provide a means of measuring completion such as a written test, provide an EA certification of successful completion of said test, and provide a written outline, textbook or acceptable electronic substitutes.

      NAEA member requirements exceed the IRS standards for continuing education. NAEA members / associates must complete 30 hours of continuing education each year. For more information on this requirement please visit NAEA.org.

      California CTEC CPE Requirements

      Starting January 1, 2012 CTEC continuing education requirements hours changed from 12 hours federal, 4 hours state, 2 hours of ethics and 2 hours federal and/or state to 15 hours federal and 5 hours state.

      The 15 hour annual requirement consists of 10 hours of federal tax law topics, three hours of tax law updates and two hours of ethics and/or professional conduct. Preparers must obtain the courses from IRS/CTEC approved providers.

      IRS RTRP CPE Requirements

      As of Friday, January 18, 2013, the United States District Court has enjoined the IRS from enforcing the regulatory requirements for Registered Tax Return Preparers. The IRS, working with the Department of Justice, continues to have confidence in the scope of its authority to administer this program. For now, the program requirements are voluntary. This may change if the IRS succeeds in its planned appeal or with the passage of new legislation.

      The IRS introduced the new rules in Treasury Department Circular No. 230 (Rev. 8-2011). Under these rules, all Registered Tax Return Preparers were required to complete 15 hours of annual continuing education (CE), including 3 hours of federal tax law updates, 2 hours of ethics, and 10 hours of other federal tax law. The continuing education requirements for Registered Tax Return Preparers do not apply to attorneys, certified public accountants, and enrolled individuals, certain supervised preparers, and individuals who do not prepare Form 1040 series returns. The continuing education programs are currently voluntary for individuals who are Registered Tax Return Preparers, and those who have provisional PTINs.

      Preparers must retain the following records for four years following the date of renewal:

      • The name of the CE Provider organization;
      • The location of the program;
      • The title of the program, approval number received for the program, and copy of the program content;
      • Written outlines, course syllabi, textbook, and/or electronic materials provided or required for the program;
      • The date(s) attended;
      • The credit hours claimed;
      • The name(s) of the instructor(s), discussion leader(s), or speaker(s), if appropriate; and
      • The certificate of completion and/or signed statement of the hours of attendance obtained from the continuing education provider.


      In addition, records must be maintained by the CE Provider to verify the participants who attended and completed the program for a period of four years following completion of the program. Tax professionals taking CE courses should expect the provider to request their first and last name, as well as their PTIN number in order to comply with reporting requirements.
      Fast Forward Academy offers the most innovative CPE platform on the market and we are constantly making it better.

      • EASE OF USE - the system is extremely user-friendly and intuitive.
      • FREE Content to try before you buy
      • FREE PDFs with the purchase of any online course
      • Entertaining, Valuable & Credible Continuing Education.
      • Courses are written and reviewed by EAs, CPAs, MBAs, and professional editors.
      • Track the status of your CPE requirements
      • View course test results and reports
      • Save and exit a course anytime and resume where you left off
      • Printable certificates of completion - Also verified with the IRS & contains our course IRS OPR numbers.


      30 Day Money Back Guarantee

      If you are unsatisfied with our products for any reason, you may initiate a return for a full refund of the purchase price of the item(s). To qualify for the refund we must receive notice within 30 days of the date of purchase, along with a brief explanation of the reason for the return, your original receipt, and the product must have been purchased through FastForwardAcademy.com.

      A Return Merchandise Authorization (RMA) form must accompany all eligible physical returns.

      Are you an approved IRS provider?
      Yes! In the past, the IRS assigned a provider number and is moving away from that system to review and approve the actual content / courses. Our courses have gone through the new process and our IRS OPR course numbers are published above. You should also note that we display our IRS OPR course numbers while you're taking the course and we are required to publish it on your certificate of completion. The IRS also requires us to administer an exam as well as a survey. All of our content, even our certificates have been reviewed by the IRS.

      IRS Approval Letters (opens in a new window)

      Fast Forward Academy is an IRS approved CPE provider - UBWMF

      Are you an approved NASBA provider?
      Yes! We are NASBA approved for online, live, and instructor based CPE. Our NASBA provider number is 116347.

      Fast Forward Academy is a NASBA QAS approved CPE provider - 116347

      How to I access the live Webinar?
      After your purchase you will receive a link that will work during the time of the live event. We will also send this link out again as a reminder prior to the event.

      Upon clicking the link, you may be asked to download and install software. Please make sure to join early so all the software can be installed prior to the start of the event.

      Is your CPE content updated to cover the current year's tax law?
      Of course. All RTRP hours of CPE are updated for the current tax year.

      How can I pay? Do you take phone orders?
      We accept credit and debit cards. We also accept payments over the phone. (888)798-PASS (7277).

      Are your courses registered with the IRS and CTEC for the EA, RTRP, and CRTP designations?
      All courses are registered with the IRS and CTEC so every course offered counts for the EA, RTRP, and CRTP designations.

      Can I start and stop anytime and access the content from anywhere?
      Because the content is Web-based, this is self-study and you can start and stop at any time. With an Internet connection at work, home, or on a mobile device you can pick up right where you left off.

      Do you provide PDFs?
      You will always have access to the course content and PDFs can be downloaded to print or load on to an e-reader device or referenced at a later point.

      How many attempts do I have to pass the quiz at the end?
      Each course has a simple quiz at the end (5 questions per credit hour). You need a score of 70% or better to pass and you have an unlimited number of attempts for each short exam. Sorry, the IRS requires an exam for online courses.

      Will I get a certificate?
      After you pass the quiz, you can access and print your certificate immediately and always come back to access it at a later time if needed.

      How will my hours be reported?
      We report your hours to the IRS and CTEC on your behalf. You will get an email confirmation, plus real-time reporting on our CPE Dashboard so you can monitor the reporting status.

      Fast Forward Academy: IRS Provider # UBWMF
      Fast Forward Academy: NASBA Provider # 116347
      Fast Forward Academy: CTEC Sponsor # 6209


      Fast Forward Academy is a NASBA QAS approved CPE provider - 116347

      Please feel free to review our approval letters from the IRS concerning the continuing education courses we offer.

      IRS Approval Letters (opens in a new window)

      Fast Forward Academy is an IRS approved CPE provider - UBWMF

      Our Partners: Purdue University, University of Kentucky, Auburn University, NSTF, NAEA, NATP, NC State University

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