With massive changes the last two years from the Tax Cuts and Jobs Act now more than ever it is important to brush up on the latest tax laws and changes.
With 2020 tax season offically underway, you'll soon have clients that have a variety questions and scenarios that need your expertise.
Our Tax Season Update Pacakge, will will give you 10 hours of critical topics so you make sure you are prepared for the 2020 tax season.
All courses are IRS approved and will count on your 2020 PTIN report for continuing eduation.
Courses Contained in this package are:
- Federal Tax Law Updates – (3 Hours of Federal Tax Law Updates)
- Business Structures, Small Business Taxes & Estate Planning (3 CE Hours of Federal Tax Law Topics)
- Standard vs Itemized Deduction, Non-Profits and Retirement Plans (3 CE Hours of Federal Tax Law Topics)
- Independent Contractor vs Employee (1 CE Hour of Federal Tax Law Topics)
Note: All courses are based on 2019 Tax law for the 2020 tax season.
What is the benefit to me of participating in the Annual Filing Season Program (ASFP)?
- Your name will be included in the Directory of Federal Tax Return Preparers with Credentials and Select Qualifications that will be available January.
- You will have limited representation rights for returns you prepare and sign.
- You will be encouraged to remain current with changing tax laws.
- You will receive the AFSP – Record of Completion that shows clients and potential clients that you are a well-educated tax preparer who is dedicated to your chosen profession.
What is the deadline to complete the Annual Filing Season Program (ASFP)
The approved continuing education program must be completed within the calander year to qualify for the 2016 filing season.
What is the future of this program?
The Annual Filing Season Program will be an interim step to help taxpayers and encourage education for unenrolled tax return preparers. The IRS continues to pursue legislative authority to mandate a continuing competency program. In the meantime the IRS will administer a uniform voluntary examination in future years in order to ensure basic return preparer competency.
What are the requirements to achieve Annual Filing Season Program Completion?
Completion of courses from an IRS approved required will satisfy the completion. The yearly requirements for 2016 and beyond for Non-Exempt status tax preparers is 18 hours. Which consists of a 6 hour Annual Federal Tax Refresher (AFTR), 10 hours of federal tax law and 2 hours of ethics. The yearly requirements 2016 and beyond for Exempt status tax preparers is 15 hours. Which consists of 10 hours of federal tax law, 3 hours of tax law updates, and 2 hours of ethics
Who may participate in the program?
Anyone with a PTIN is eligible to participate in the program. Enrolled Agents, CPA’s and RTRP’s have an exempt status that will reduce the number of hours required.