AFSP Course Descriptions
15-hour AFTR-Exempt Tax Preparer Package
This package satisfies the full continuing education requirement to be eligible for the IRS Annual Filing Season Program Record of Completion for PTIN holders who are NOT required to complete the 6-hour AFTR course. It includes courses listed below, which satisfy the following categories:
- Federal Tax Law - 10 hours
- Federal Tax Updates - 3 hours
- Ethics - 2 hours
All course materials are provided as PDF files that can be downloaded from your account immediately after purchase, exams are administered online and are accessed by logging in to your account. The IRS requires a passing score of 70% for each course.
Sequoia CPE is an IRS Approved Continuing Education Provider, our provider ID is XE26W.
See Am I Exempt? if you are unsure whether this is the correct package for your requirements.
10-Hour Federal Tax Law Topics
|The first part of this course discusses virtual currency. Roughly 3 in 10 Americans younger than age 30 indicate they have invested in, traded, or used a virtual currency, such as Bitcoin or Ethereum. As a result, tax preparers are more likely than ever to encounter clients who have engaged in one or more virtual currency transactions during the year and who may have taxable income as a result. We briefly discuss the nature of virtual currency, how transactions in virtual currency occur and are recorded, and the tax treatment to which they are subject. The second part of this course discusses how CPAs, EAs and tax preparers have a unique responsibility to safeguard their clients’ data because savvy cybercriminals know that they have access to very sensitive data, including social security numbers. This part provides an overview of the problems of identity theft, types of identity theft, and remedies available for its victims. In addition, it will look at suggestions for businesses to use to reduce the risk of such crimes and focus on several rules mandating practices for financial firms to safeguard client information.|
IRS Program Approval Number: XE26W-T-00375-23-S
3-Hour Federal Tax Law Update
|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 affecting 2023 as a result of passage of the Inflation Reduction Act and the inflation-changed limits effective for 2023 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.|
IRS Program Approval Number: XE26W-U-00376-23-S
2-Hour Ethics for Tax Preparers
|This course discusses various frivolous tax arguments and scams in relation to a federal tax preparer’s ethical obligations under IRS Circular 230. Additional information is provided on the civil and criminal penalties that can apply to your clients and the various penalties that can apply to you, the tax preparer, that violates ethical standards and your obligations under Circular 230.|
IRS Program Approval Number: XE26W-E-00377-23-S