Course info

Annual Federal Tax Refresher  

Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, new tax laws come into being that may significantly affect taxpayers’ income tax liability. This course will examine many of those changes. 

The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS Annual Filing Season Certificate program. It discusses new tax law and recent updates for the upcoming filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.

Course Learning Objectives

Upon completion of this course, a tax return preparer should be able to:

• Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns;
• Recognize third-party network transaction reporting requirements;
• Describe the Direct File Pilot program;
• Understand the SECURE 2.0 Act requirements applicable to designated Roth account catch-up contributions to employer-sponsored retirement plans for higher paid participants;
• Describe the change in designated Roth account distributions brought about by the SECURE 2.0 Act;
• Recognize the federal income tax filing statuses and the criteria for their use;
• Identify the types of income that must be recognized;
• Apply the tax rules to the various credits and adjustments to income available to taxpayers;
• Recognize the penalties that may be imposed on a preparer for failing to meet ethical and practice standards in preparing tax returns; and
• Identify the duties and restrictions imposed on tax preparers under Circular 230.         

What Non-Exempt Preparers Must Know!

Those taking the AFTR course must understand the following:

• Open Book Course
• Score at least 70% to pass
• 3-hour time limit, no breaks allowed
• Only 3 attempts are allowed
• Must be passed by December 31 at midnight
• Successful completion of the course is reported to the IRS within 24 hours.