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Understanding Tax Code Elections and Credits and Properly Reporting Them on IRS Forms - Live Stream

Course Price: N/A
CPE Credits
5
Advanced Preparation
None
Course Level
Intermediate
Prerequisite
Knowledge of Federal Tax Law
IRS CPE
5
NASBA CPE
5
CTEC CPE
5
Author
Paul La Monaca CPA, MST
Course Description

This course introduces the Tax Professional to various federal income tax elections provided in the Internal Revenue code. The presentation will discuss the fact that some elections are required to be made by the due date of the tax return while others are allowed through the extension date of the return. Other elections could be up to the close of the Statute of Limitations of the filed return. Some elections are irrevocable while others can be revoked with permission of the IRS if properly requested. Some elections are required in the form of checking a box on an IRS Form or Schedule while others require a formally submitted attachment to the filed return.

The Internal Revenue Code also provides for the allowance of specified credits which are refundable while others are nonrefundable, and some credits are allowed for Alternative Minimum Tax purposes while others are not. Some credits are fully allowed while others are phased out due to other provisions in the law.

Learning Objectives

At the conclusion of the presentation, the Tax Professional will have a broader and deeper understanding of the elections that are provided in the Code for individual and business tax purposes and how to properly apply them on a filed return. The participant will also know more about which elections are revocable or nonrevocable and by when the elections must be made.

In addition, the Tax Professional will have a better understanding of the specific individual and business tax credits available for use by their clients.

FAQ

To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.

Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.

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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.

Your certificate will be emailed to you within 10 business days of the completion of the course.

Administration:
Refunds
  • Once your registration confirmation is emailed, due to the proprietary materials and content of orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
Disclaimer
  • materials and presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
  • Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
  • materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
Testing Policy
  • require a test for CPE. 3 attempts are allowed.
  • You have 1 (one) year from date of purchase to complete the course by taking the test.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.