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Self-Study Courses

1040 Preparation and Planning 12: Figuring Tax Liability and Making Tax Payments (2026)

1 CPE Credits $60.00/credit hour
5.0 (15 ratings)
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

This one-hour CPE course, which is the 12th and final course in the 1040 Preparation and Planning series, examines figuring tax liability and making tax payments. In addition to figuring taxable income, the course will walk through the computations for lump-sum distributions, figuring kiddie tax, and other tax computation issues. It also examines various ways in which tax liability is paid, through income tax withholding, estimated tax payments, and tax credits, as well as post-filing options.

Tax developments reflected in this course include the extensive changes effective for 2025 that were created by the One Big Beautiful Bill Act of 2025 (OBBB Act) and other tax legislation, as well as IRS pronouncements, and court decisions. They impact 2025 tax year returns that will be filed during the 2026 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2026 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2025 tax returns for the 2026 filing season.

Publication Date: September 2025

Topics Covered

  • Tax Computation
  • Farming and Fishing Income Averaging
  • Kiddie Tax
  • Parent's Election to Report Child's Investment Income
  • Paying Income Taxes
  • Who Should Pay Estimated Taxes?
  • Estimated Taxes for Farmers and Fisherman
  • Paying Income Taxes
  • Estimated Tax Safe Harbors
  • Figuring Estimated Tax
  • Tax Payments
  • Refundable Credits
  • Post-Filing Payment Options
  • Installment Agreements
  • Offers in Compromise

Learning Objectives

  • Explain how to figure taxable income
  • Determine whether Schedule D, a separate worksheet, or Schedule J is necessary to figure the tax
  • Explain how to figure the kiddie tax
  • Determine the sources of income tax withholding
  • Explain how to complete the schedule for estimated tax payments
  • Explain how to figure estimated tax installments and when to make payments
  • List tax credits treated as tax payments
  • List post-filing options for paying outstanding taxes

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
None

Advance Preparation
None

Instructors

Greg White

Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.

Barbara Weltman

Barbara Weltman, JD, has written extensively on a wide variety of tax, small business, and financial planning matters for both professionals and the general public. The Wall Street Journal called her “the guru of small business taxes.” She is the author of a number of self-study programs for CCH. She is publisher of Big Ideas for Small Business® and Idea of the Day® found at www.BigIdeasForSmallBusiness.com and is a guest blogger for the SCORE and many other sites. Ms. Weltman is a graduate of Brooklyn Law School.
$60.00 / 1 CPE
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