Annual Federal Tax Refresher (AFTR) 6 Hours
*Note: the AFTR course requires a 100-question exam with a passing score of 70%. You must complete the Exam in one continuous sitting with a 3-hour time limit.
The Annual Federal Tax Refresher (AFTR) is IRS-approved and follows the AFTR outline, which covers all domains, including new tax laws, general review topics, and essential practices and procedures. It meets all requirements for the Annual Filing Season Program (AFSP). By the end of the course, participants will be updated on the latest IRS regulations and filing requirements, enhancing your competence and confidence in handling varied tax situations for their clients.
This course must be completed by December 31st, 2024, to receive AFTR credit towards your Record of Completion.
Learning Objectives:
By the end of this course, participants will be able to:
- Identify and implement adjustments due to annual inflation and changes in cost of living as per Rev. Proc. 2023-34.
- Apply new standard mileage rates and understand their impact on deductions.
- Navigate the complexities of third-party network transactions and the new reporting requirements for Form 1099-K.
- Review and correctly apply various filing statuses, including the updated terms for qualifying widow(er) and qualifying surviving spouse.
- Accurately report tax earnings, retirement income, unemployment compensation, and alimony under current tax laws.
- Determine the taxability and proper reporting for different types of income and deductions on Schedules B, C, and D.
- Distinguish between business and hobby expenses, understand the nuances of business use of home, and maintain compliant record-keeping.
- Calculate and claim deductions correctly under Section 179 and understand the implications of bonus and luxury auto depreciation limits.
- Identify eligibility for various tax credits such as the child tax credit, education credits, and the earned income tax credit.
- Understand and apply the energy and clean vehicle credit rules, enhancing taxpayer benefits under current incentives.
- Recognize the importance of safeguarding taxpayer data and understand the protocols for preventing tax-related identity theft.
- Comprehend preparer penalties and the necessity of due diligence in tax preparation, adhering to standards set out in Circular 230.
Each domain of the course is structured to provide comprehensive insights and practical approaches to dealing with the complexities of tax preparation, ensuring you are well-prepared for the upcoming tax season.
- Domain 1 - New Tax Lax/Recent Updates
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Domain #1 covers New Tax Laws and recent Updates, including cost-of-living adjustments, standard mileage rates, Third-Party Network Transactions (Form 1099-K), energy-efficient home improvement credits, clean vehicle credits, and more.
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- Domain 2 - General Review
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Domain #2 is a general review, including taxability of earnings, Schedule B, reporting and taxability of retirement income, record-keeping requirements, itemized deductions, tax credit eligibility, and more.
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- Domain 3 - Practice, Procedures, and Professional Responsibility
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Domain #3 focuses on Practices, Procedures, and Professional Responsibility, including Tax-related identity theft, safeguarding taxpayer data, preparer penalties, E-filing requirements, the Annual Filing Season Program Requirements, and more.
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Included in this program:
- 6 Hours Annual Federal Tax Refresher (AFTR), with English and Spanish closed captioning
- Immediate access to the program as soon as you purchase
- An email will be sent to you with instructions on how to access your program
- The program is split up into 50-minute video segments
- We report your hours of completion to the IRS
*Note: the AFTR course requires a 100-question exam with a passing score of 70%. You must complete the Exam in one continuous sitting with a 3-hour time limit.
To receive AFTR credit in your PTIN account, you must complete the AFTR course and Exam in their entirety by December 31st, 2024.
- This AFTR Course meets the 6-CE hour, 300 minutes.
- You can see the entire AFTR Course Outline HERE or here: IRS.gov/taxpros/ce.
- Program completion (AFTR Course & Test) is required by December 31st, 2024.
- To pass this course, you must get a passing score of 70% or higher. You will have three hours to complete the test in one sitting. You will have up to 4 attempts to pass the 100-question test. The timed test (3 consecutive hours) can be taken after watching all six videos, clicking the Continue button, and certifying that you have completed each video.
- EAs cannot receive credit for the AFTR Course.
- Participants must consent to Circular 230 duties and restrictions to receive the IRS's Annual Filing Season Program Record of Completion.
- Other required CE for the Annual Filing Season Program participation are HERE.
- To learn more about the IRS Annual Filing Season Program, click HERE.
- Your name will be included in the Directory of Federal Tax Return Preparers with Credentials and Select Qualifications, which will be available in January.
- You will have limited representation rights for returns you prepare and sign.
- You will be current with changing tax laws.
- You will receive the AFSP—IRS Record of Completion, which shows clients and potential clients that you are a well-educated tax preparer.
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The benefits for Annual Filing Season Program (AFSP) participants are:
- Your name is listed in the Federal Tax Return Preparers Directory on the IRS website with your Credentials and Select Qualifications, updated and 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 and potential clients that you are a well-educated tax preparer who understands and implements the tax law updates that occur each year.
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By choosing My Tax Courses Online for your IRS-approved Continuing Education, you are:
- You can access courses taught by top tax professionals, including Dr. Bart Basi, Roman Basi, Laci Henson, Doug Stives, and more.
- IRS-approved courses are updated each year, and new courses are continually added.
- On-demand videos and materials to access
- Fast reporting – We pride ourselves on submitting your approved CE credits directly to the IRS within 7 days.
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How do I participate in the Annual Filing Season Program (AFSP)
The Annual Filing Season Program (AFSP) recognizes non-credentialed tax return preparers who are looking to enhance their professionalism. To qualify, follow these steps:
- Continuing Education: Complete 18 hours of IRS-approved continuing education, including a six-hour federal tax law refresher course with a test. If you're exempt, complete 15 hours, including 3 hours of federal tax law updates.
- PTIN Renewal: Renew your Preparer Tax Identification Number (PTIN) for the next year.
- Consent to Circular 230: Agree to follow the rules in Circular 230.
Once you finish these steps, you'll get an "Annual Filing Season Program – Record of Completion" from the IRS.
CLICK HERE to see the IRS FAQ for further details.
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Do you need 15 hours (Exempt) or 18 hours (Non-Exempt) of Continuing Education?
Most people need 18 hours, which is Non-Exempt. You're Exempt if you fall under one of these top categories:
- Passed the Registered Tax Return Preparer Test between November 2011 and January 2013.
- Are in a state-based program with testing requirements (like Oregon, California, or Maryland).
- Passed SEE (Special Enrollment Exam) Part I in the last three years.
To see the complete list of exemptions, review the following IRS document. CLICK HERE.
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Here's a step-by-step guide to get an AFSP Record of Completion.
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Education Requirement: Complete 18 hours of continuing education from IRS-approved CE Providers, such as My Tax Courses Online, and includes the following requirements:
- Take a 6-hour Annual Federal Tax Refresher (AFTR) course from an IRS-approved provider like My Tax Courses Online. Pass the course's test.
- Complete 10 hours of additional training on federal tax law topics.
- Complete 2 hours of Ethics.
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Education Requirement: Exempt participants must complete 15 hours of continuing education from IRS-approved CE Providers, such as My Tax Courses Online, which includes the following requirements:
- Pass the 3-hour federal tax law update course.
- Complete 10 hours of extra training on federal tax law topics.
- Complete 2 hours of ethics training.
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Active PTIN: Make sure to renew your Preparer Tax Identification Number (PTIN).
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Compliance Consent: Agree to follow the rules in Circular 230.
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When and how will you receive your Record of Completion?
Your Record of Completion is issued to you once all requirements are completed, which includes renewing your Preparer Tax Identification Number (PTIN) for the upcoming year and agreeing to the rules in Circular 230.
- If you have an online PTIN account, you will receive an email from taxpros@ptin.irs.gov with instructions on how to sign the Circular 230 consent and access your certificate.
- If you need an online PTIN account, you will receive a letter with instructions on completing the application process and obtaining your certificate.
