IRS Internal Revenue Manual

Winn Publications

Each year, income tax return preparation must take into account inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws to provide valuable information to persons preparing individual 1040 income tax returns. The Annual Tax Filing Season Update course discusses new tax law and recent updates for the tax 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 student should be able to: Identify the principal individual income tax changes brought about by recent legislation Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns 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 that are 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 Identify the duties and restrictions imposed on tax preparers under Circular 230.

Winn Publications

The Patient Protection and Affordable Care Act (PPACA) has brought about the most significant change in healthcare since the passage of the 1965 legislation that authorized Medicare. It imposes healthcare-related requirements on health plans, health insurers and employers. Eligible small employers may receive tax credits for providing health insurance coverage to their employees, and large employers may find themselves subject to tax penalties for failing to provide such employee coverage. This course will review the principal coverage provisions of the law and will examine its tax impact on employers. Learning Objectives Upon completion of this course, you should be able to: List the principal coverage provisions of the PPACA Recognize the shared responsibility requirements for applicable employers with respect to employee health coverage Compute the potential tax penalties that may be imposed under the PPACA for an employer’s failure to meet the applicable shared responsibility requirements Calculate the tax credits for which a small employer may be eligible for providing employee health insurance coverage.

Winn Publications

By changing many of the rules traditionally applicable to health insurance and imposing healthcarerelated requirements on virtually every individual, the Patient Protection and Affordable Care Act (PPACA) is likely to affect virtually every person in the United States in some way. The Patient Protection and Affordable Care Act (PPACA) imposes various tax increases in order to generate revenue and uses a carrot and stick approach to ensure individuals comply with its provisions by offering tax credits for compliance and, until 2019, by imposing tax penalties for noncompliance. This course will review the principal provisions of the law affecting individuals and will consider the: Coverage-related provisions of the PPACA addressing: Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued The prohibition of pre-existing condition exclusions The proscription of lifetime and annual benefit limits The limitation of health coverage rescissions The requirement for certain patient protections The requirement that plans covering children extend child coverage until age 26 Various personal income tax changes affecting taxpayers Tax credits authorized under the law to assist taxpayers by helping them purchase and maintain health insurance coverage. Learning Objectives Upon completion of this course, you should be able to: List the principal healthcare provisions of the PPACA affecting individuals Identify those individuals who may be exempt from the individual mandate Calculate the tax credits designed to help ensure that individuals are able to purchase and maintain health insurance coverage

Winn Publications

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; andIdentify 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.