2024 Annual Tax Season Update (Text Based)

Each year, various limits impacting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various new tax laws may be passed. This course will examine many of those changes. 

The Annual Tax Filing Season Update course discusses new tax laws and recent updates for the 2024 filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices, and procedures.

Learning Objectives:

1. Identify the principal individual income tax changes brought about by recent legislation;  

2. Apply the inflation-adjusted and other limits to the proper preparation of taxpayers' income tax returns;

3. Identify the inflation adjustments made to the Education Savings Bond program;

4. Describe the filing status name change of the qualifying surviving spouse to the qualifying surviving spouse;

5. Apply the rules governing contributions to and distributions from IRAs, qualified retirement plans, and annuities;

6. Recognize the items included in self-employment income and expenses;

7. Recognize the tax treatment given to capital gains and losses;

8. Describe the difference between refundable and nonrefundable tax credits;

9. Recognize the rules governing exclusion from income of student loan indebtedness;

10. Identify the red flags indicating possible tax-related identity theft and suggested assistance to its victims;

Instructional Method: Self-Study

Review Date: 03/25/2024

Required Components: Written Materials

CPE Final Exam Required Passage Grade: 70%

Please Note: This course must be completed within 1 year of the date of receipt of this course for CPE Credit.

Field of Study: Taxes

Level of Knowledge: Beginner

Prerequisite: None

Advanced Preparation: None

For more information regarding administrative policies such as refunds, cancellations, and complaints, please contact FurtherEd at (912) 666-6282.

FurtherEd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.