Stay on top of tax changes with our IRS-approved 15-hour course package for tax preparers! Expert insight from top industry leaders, including Dr. Bart Basi, Roman Basi, Lacie Henson, and Doug Stives. We cover all significant changes and topics, including federal tax law updates, estate planning, entity selection, credits, and deductions.
The 15 hours contained in this package include the following:
- 2 Hours of Ethics
- 3 Hours of Federal Tax Law Updates
- 10 Hours of Federal Tax Law Related Topics
This package covers all significant tax changes and topics affecting all taxpayers.
Course titles included in this package:
- 2023 Ethics Circular 230 (2 Credit Hours of Ethics)
- 2023 Federal Tax Law Updates - (3 Credit Hours of Federal Tax Law Updates)
- 2023 Business Entity Selection and Tax Advantages & Real Estate Tax Laws (2 Credit Hours of Federal Tax Law)
- 2023 Common Mistakes and Missed Opportunities on Tax Returns (1 Credit Hour of Federal Tax Law)
- 2023 Estate Planning (2 Credit Hours of Federal Tax Law)
- 2023 Outlook and Hot Topics (2 Credit Hours of Federal Tax Law)
- 2023 The Latest on Credit and Deductions (1 Credit Hour of Federal Tax Law)
- 2023 Understanding Critical Forms, Schedules, Credits, and Deductions (2 Credit Hours of Federal Tax Law)
The Learning Objectives for this course are:
- Understand the changes to the tax laws that will affect the 2023 and 2024 tax filing seasons.
- Understand the ethical responsibilities of tax professionals.
- Select the right business entity for a client's specific needs.
- Develop a real estate tax plan for a client.
- Understand the federal estate and gift tax laws.
- Prepare a Form 1041 estate tax return.
- Develop an estate plan for a client.
The most important topics are covered in this 15-hour package. The Federal Tax Law Updates course covers three main segments related to the 2023 tax season: tax brackets, tax credits, and special rules. Dr. Basi goes into important detail for each, including the employee retention tax credit, electric vehicle tax credits, bonus depreciation, research and development tax credits, and more, as well as discussing worker classification, bankruptcy, and estate and gift tax returns.
Ethics Circular 230 covers conflict of interest, ethical responsibilities, obligations, and penalties, with real-life case examples. Understand and define Circular 230, review tax returns, and gain insights on due diligence and competency. This course will help enhance your tax compliance skills.
The Business Entity Selection and Tax Advantages & Real Estate Tax Laws course covers business entity selection, real estate tax laws, limited liability companies, sole proprietorships, general partnerships, limited partnerships, series LLCs, subchapter s corporations, subchapter c corporations, tax implications, succession planning, real estate taxation, taxpayer's basis, tax code, residential homeowners, and investors.
The Estate Planning course covers the many aspects of estate planning, including federal estate and gift tax issues, Form 1041, and future expectations.
This package will provide the updates you need to prepare for the 2024 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 calendar year to qualify for the 2023 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 2020 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.
