Tax Credits for Individuals: Including Updates on OBBBA
Author: Barbara Weltman
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
This course provides you with an overview of the rules for claiming personal tax credits in light of changes made by the One Big Beautiful Bill Act (OBBB Act). Credits are more valuable than deductions because they reduce tax liability on a dollar-for-dollar basis and, so, provide real savings opportunities for individuals. It also highlights planning tips to help you in your practice. Many of the credits for individuals have been enhanced or curtailed by recent legislation. This course provides an overview of the array of individual credits and the limitations that apply for each of these credits. It also reviews the due diligence requirements for paid preparers with respect to certain refundable credits.
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 cardPublication Date: August 2025
Topics Covered
- Family-Related Tax Credits
- Education Credits, Retirement Savers Credit, and Other Credits
- Energy-Related Credits
- Other Credits
- Preparer Due Diligence Related to Tax Credits
Learning Objectives
- Identify individual tax credit changes made by the One Big Beautiful Bill Act and when the changes are effective
- Explain how to distinguish between refundable and non-refundable tax credits
- Recognize when income limits eligibility for certain personal tax credits
- Identify which personal tax credits are partially or fully refundable
- Identify which green energy tax credits have been or are being eliminated
- Recognize when the due diligence requirements apply for tax return preparers with respect to certain refundable tax credits
- Identify the tax form that should be submitted with respect to paid preparer's due diligence
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
