Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine the tax changes that took effect as a result of passage of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the inflation-changed limits effective for 2021 that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes.
This is Part 1.
This webinar is available with
NO ADDITIONAL FEE if you have an active
all access membership or
webinar membership or can be purchased for
$30.00!
| Instructor: | Paul Winn |
| Course No: | TAX-FEDINC-G3051 |
| Recommended CPE: | 3.00 |
| Delivery Method: | Group Internet Based - Webinar |
| Date Offered: | 12/21/2021 10:00 AM - 1:00 PM |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Registration Requirements: | No registration is required |
| Recommended Field of Study: | Webinars - Group
Taxes
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Learning Objectives
- Identify the features and tax benefits of qualified tuition programs available under IRC ยง529.
- Recognize the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA).
- Identify the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses.
- Apply the American opportunity and lifetime learning credit rules.
- Recognize the tax treatment given to scholarships, fellowships and other types of educational assistance.
- Apply the federal income tax rules applicable to student loan interest, student loan cancellations and repayment assistance.