Stay on top of tax changes with our IRS-approved 15-hour Exempt AFSP Package for tax preparers! Covering all significant changes and topics, including federal tax law updates, estate planning, entity selection, credits, and deductions. It's expert insight from top industry leaders, including Dr. Bart Basi, Roman Basi, Lacie Henson, and Doug Stives.
The 15 hours contained in this package include the following:
- 2 Hours of Ethics
- 3 Hours of Federal Tax Law Updates
- 10 Hours of Federal Tax Law Related Topics
This package covers all significant tax changes and topics affecting all taxpayers.
Course titles included in this package:
- 2023 Ethics Circular 230 (2 Credit Hours of Ethics)
- 2023 Federal Tax Law Updates - (3 Credit Hours of Federal Tax Law Updates)
- 2023 Business Entity Selection and Tax Advantages & Real Estate Tax Laws (2 Credit Hours of Federal Tax Law)
- 2023 Common Mistakes and Missed Opportunities on Tax Returns (1 Credit Hour of Federal Tax Law)
- 2023 Estate Planning (2 Credit Hours of Federal Tax Law)
- 2023 Outlook and Hot Topics (2 Credit Hours of Federal Tax Law)
- 2023 The Latest on Credit and Deductions (1 Credit Hour of Federal Tax Law)
- 2023 Understanding Critical Forms, Schedules, Credits, and Deductions (2 Credit Hours of Federal Tax Law)
The Learning Objectives for this course are:
- Understand the changes to the tax laws that will affect the 2023 and 2024 tax filing seasons.
- Understand the ethical responsibilities of tax professionals.
- Select the right business entity for a client's specific needs.
- Develop a real estate tax plan for a client.
- Understand the federal estate and gift tax laws.
- Prepare a Form 1041 estate tax return.
- Develop an estate plan for a client.
The most important topics are covered in this 15-hour package. The Federal Tax Law Updates course covers three main segments related to the 2023 tax season: tax brackets, tax credits, and special rules. Dr. Basi goes into important detail for each, including the employee retention tax credit, electric vehicle tax credits, bonus depreciation, research and development tax credits, and more, as well as discussing worker classification, bankruptcy, and estate and gift tax returns.
Ethics Circular 230 covers conflict of interest, ethical responsibilities, obligations, and penalties, with real-life case examples. Understand and define Circular 230, review tax returns, and gain insights on due diligence and competency. This course will help enhance your tax compliance skills.
The Business Entity Selection and Tax Advantages & Real Estate Tax Laws course covers business entity selection, real estate tax laws, limited liability companies, sole proprietorships, general partnerships, limited partnerships, series LLCs, subchapter s corporations, subchapter c corporations, tax implications, succession planning, real estate taxation, taxpayer's basis, tax code, residential homeowners, and investors.
The Estate Planning course covers the many aspects of estate planning, including federal estate and gift tax issues, Form 1041, and future expectations.
This package will provide the updates you need to prepare for the 2024 tax season!
What is the benefit of participating in the Annual Filing Season Program (AFSP)?
- Your name is listed in the Directory of Federal Tax Return Preparers with Credentials and Select Qualifications that will be available every January.
- You will have certain representation rights for the tax returns you prepare and sign.
- You are dedicated to remaining current with changing tax laws.
- You will receive the AFSP – Record of Completion that proves to your current clients and potential clients that you are a well-educated tax preparer who understands and implements the tax law updates that occur each year.
What is the deadline to complete the Annual Filing Season Program (AFSP)?
The approved continuing education program must be completed within the calendar year to qualify for the filing season.
What are the requirements for the Annual Filing Season Program Record of Completion?
- Completion of courses from an IRS-approved provider, like My Tax Courses Online, will satisfy the completion.
- The yearly requirement for Exempt status tax preparers is 15 hours. This consists of 10 hours of federal tax law continuing education credits, 3 hours of tax law updates, and 2 hours of ethics.
- The yearly requirement for Non-Exempt status tax preparers is 18 hours. This consists of a 6-hour Annual Federal Tax Refresher (AFTR) course and test, 10 hours of federal tax law continuing education credits, and 2 hours of ethics credits.
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