EA Exam Prep Part 1: Credits and Other Taxes (Currently Unavailable)

Author: Eva Rosenberg, Susan Holtgrefe

This is the sixth class of the EA Exam Prep. Part 1 series. In this TaxMama® created course, Susan pilots you through the vast topics of tax credits and other taxes. Get an in-depth look at individual tax credits (refundable and non-refundable), AMT, Kiddie Tax, various taxes, and much more. This course covers a multitude of tax forms, including Form 4137 (Unreported Tips), Form 8919 (Misclassified Employees), and many others.

Publication Date: June 2019

Designed For
Tax practitioners of all levels, regardless of experience, who want to learn about the various credits and other taxes that affect the individual taxpayer. Excellent training for staff working in tax offices, accounting practices, and corporate settings, as well as independent bookkeepers. This course provides an in-depth look at tax credits and other taxes, as well as how to report them. It is especially helpful to those with no hands-on experience preparing tax returns as well as those who are returning to tax preparation after years in corporate or other jobs. This course is also designed to help CPAs earn their Enrolled Agent credential so they can practice anywhere in the country without re-certifying.

Topics Covered

• Refundable vs. non-refundable credits
• General Business Credit
• Alternative Minimum Tax
• Forms for credits and other taxes
• The Affordable Care Act
• Kiddie Tax
• Household Employees
• Education credits

Learning Objectives

• Identify refundable and non-refundable credits
• Identify AMT preference and adjustment items
• Identify AMT exclusions and deferral items
• Recognize how to complete Form 6521 — Alternative Minimum Tax
• Recognize the thresholds and limitations of the various tax credits
• Identify the appropriate educational credit for eligible taxpayers
• Recognize due diligence requirements pertaining to the Earned Income Credit
• Identify the details of the Earned Income Tax credit and the repercussions associated with fraudulent filings
• Identify tax credits that may be carried forward if unused
• Identify the Affordable Care Act and information necessary to file the associated forms
• Identify the filing choices for children with interest and dividend income
• Recognize the various tax credits and how they apply to individual taxpayers
• Identify other taxes that affect the individual filer

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None