This IRS-approved 18-hour continuing education course package is designed to help tax preparers stay up to date on the latest tax laws and prepare for the Annual Filing Season Program (AFSP). The package includes 6 hours of the Annual Federal Tax Refresher (AFTR) course, taught by Dr. Bart Basi, Roman Basi, and Lacie Henson. Each course in this package covers all significant changes and topics, including federal tax law updates, estate planning, entity selection, credits, and deductions. This continuing education package will count towards your IRS record of completion.
Course Titles Included in This Package
- 2023 Ethics Circular 230 (2 Credit hours of Ethics)
- 2023 Annual Federal Tax Refresher Course (6 Credit Hours of AFTR)
- 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 and Tax Preparers (2 Credit Hours of Federal Tax Law)
- 2023 Tax 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)
Course Descriptions
- 2023 Ethics Circular 230
This course covers Circular 230, which outlines the ethical responsibilities, obligations, and penalties for tax preparers. The course includes real-life case examples to help you understand the material.
- 2023 Annual Federal Tax Refresher
This course covers all significant changes to federal tax law that have occurred since the last filing season. The course includes a review of the tax code and a discussion of new tax laws and regulations.
- 2023 Business Entity Selection and Tax Advantages & Real Estate Tax Laws
This course covers the different types of business entities and their tax advantages. The course also covers real estate tax laws, including the tax code, how it affects various facets of the real estate industry and more.
- 2023 Common Mistakes and Missed Opportunities on Tax Returns
This course covers some common mistakes and missed opportunities on tax returns. The course includes a discussion of deductions, credits, dependents, medical dependents, depreciation, carry forwards, carrybacks, tax deferrals, recaptures, and elections.
- 2023 Estate Planning
This course will help you grasp the basic concepts of estate planning. You will learn how to utilize knowledge of federal estate and gift tax issues to strategize with your clients. You will also learn how to approach Form 1041 with ease and give reasonable future expectations for one’s estate.
- 2023 Outlook and Hot Topics
This course covers tax rate updates, Qualified Business Income deductions, IRS issues, tax credits, deductions, what the inflation reduction act of 2022 has changed, S Corp updates, and more. Plus, you will learn valuable dos and don'ts for the tax season.
- 2023 The Latest on Credits and Deductions
This course will teach you what has changed, including Child Tax Credit, Dependent Care Credit, Charitable donation deductions, form 2106, miscellaneous itemized deductions, alimony, electric vehicles, medical expense deductions, qualified business deductions, and more.
- 2023 Understanding Critical Forms, Schedules, Credits, and Deductions
This course will help you better understand Form 1040. You will learn what goes on Schedule 1, 2, and 3. You will also learn mistakes to avoid when filing Form 1040. You will better understand the difference between tax credits and deductions. You will understand the benefits of the variety of deductions and tax credits. You will strategize as to which credits and deductions work best for you.
The learning objectives of this course are:
- Understand the due diligence and competency requirements for tax professionals.
- Understand the tax implications of different business entities.
- Prepare a Form 1041 estate tax return.
- Develop an estate plan for a client.
- Identify potential tax credits and deductions that may be available to clients.
- Provide clients with clear and concise explanations of their tax returns.
Benefits of Taking This Course
- Earn 18 hours of IRS-approved continuing education credits.
- Stay up to date on the latest tax laws and regulations.
- Learn from experienced tax professionals.
- Gain the knowledge and skills you need to prepare accurate and timely tax returns.
- Improve your chances of success as a tax preparer.
This course is perfect for:
- Unenrolled tax return preparers who need to complete their 18 hours of continuing education for the IRS Annual Filing Season Program (AFSP).
- Enrolled agents (EAs), certified public accountants (CPAs), and other tax professionals who need to stay up to date on the latest tax laws and regulations.
- Anyone who wants to learn more about federal tax law and how it affects taxpayers.
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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.
