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.

Purchase - $64.50

All AFSP courses were required to be completed by 12/31. Courses for next year will be available Summer 2023.

See Am I Exempt? if you are unsure whether this is the correct package for your requirements.

10-Hour Federal Tax Law Topics

	This course is designed to meet the 10 hour federal tax law requirement for the Annual Filing Season The first part of this course provides an understanding of the various individual retirement arrangements. It covers traditional IRAs, Roth IRAs, Simplified Employee Pensions (SEPs), and Savings Incentive Match Plans for Employees (SIMPLEs). It explains the rules for setting up an IRA, contributing to an IRA, transferring money or property to and from an IRA, handling an inherited IRA, making withdrawals from an IRA, receiving distributions from an IRA, and taking a credit for contributions to an IRA. It also explains the penalties and additional taxes that apply when the rules are not followed. To assist in complying with the tax rules for IRAs, this course contains worksheets, sample forms, and tables, which can be found throughout the course and in the appendices in the back. The second part of this course discusses the tax treatment of 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. Tax Treatment of Virtual Currency briefly discusses the nature of virtual currency, how transactions in virtual currency occur and are recorded, and the tax treatment to which they are subject.	Course Info: Course #: 200H Delivery: Self-Study CPE Hours: 10 Course Level: Basic Prerequisites: None Advanced Preparation: None Category: Federal Tax Law Total Pages: 256 Questions: 50
IRS Program Approval Number: XE26W-T-00332-22-S
Course Objectives To identify the changes related to IRAs for 2021 and 2022 To recognize the characteristics of the traditional IRA and the advantages and disadvantages of this type of arrangement To recognize what a Roth IRA is, who qualifies to make contributions to it, and the advantages and disadvantages of using it for retirement To recall how a SEP can be used by employers, including self-employed individuals To recognize what a SIMPLE plan is, what contributions can be made to it, and the consequences of distributions taken from the plan To recognize the eligibility standards for taking the retirement savings contributions credit To recognize the impact of compounding To identify the disaster-related relief limits To recognize virtual currency To recall how central bank digital currency (CBDC) is used To recognize how stablecoins differ from unbacked cryptocurrency To recall how virtual currency networks maintain security To recognize how blockchain is employed with respect to virtual currency transactions To identify how to calculate the adjusted cost basis of virtual currency that is purchased, mined, or received as a gift To recall the tax treatment of virtual currency given as a charitable gift To recognize the tax treatment given virtual currency when less than all is sold, exchanged, or otherwise disposed of Table of Contents

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 2022 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), the American Rescue Plan Act (ARPA), and the inflation-changed limits effective for 2022 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.	Course Info: Course #: 300H Delivery: Self-Study CPE Hours: 3 Course Level: Basic Prerequisites: None Advanced Preparation: None Category: Federal Tax Law Update Total Pages: 106 Questions: 15
IRS Program Approval Number: XE26W-U-00331-22-S
Course Objectives To identify the individual income tax rate changes affecting taxpayers. To recognize the standard mileage deductions for – • Use of a personal vehicle for business purposes, • Use of a personal vehicle to obtain medical care, and • Charitable use of a personal vehicle To identify the 2022 standard deduction amounts available to taxpayers To recognize the changes made to the alternative minimum tax exemption amount for 2022 To identify the tax-free United States savings bond income limits for taxpayers who paid qualified higher education expenses in 2022 To recall the tax-deductible premiums for and tax-free benefits received under qualified long-term care insurance contracts To recall the amount of assets that may be passed tax-free at death To identify the qualified business income (QBI) threshold amount To recall the retirement savings contribution credit available to eligible taxpayers To recognize the rules and income limits applicable to eligibility for the earned income credit To identify the adoption credit rules To identify the changes effective in 2022 related to the - • Health flexible spending arrangement contribution limits • Small business health care tax credit • Large employer shared responsibility provision To recognize the eligibility rules applicable to Archer MSAs and HSAs To recall how to calculate the maximum contributions that may be made to an Archer MSA To identify the tax treatment rules for contributions to and distributions from Archer MSAs and HSAs To recall how to calculate the traditional IRA tax deduction available to a taxpayer who is an active participant in an employer-sponsored retirement plan To recognize the MAGI limits that apply to a taxpayer’s eligibility to make a Roth IRA contribution To identify the American Rescue Plan Act’s provisions affecting 2022 tax advice and tax preparation To recall the changes in health savings account (HSA) rules related to first-dollar payment for telehealth and COVID-19 testing and treatment To recognize how to apply the rule changes to qualified improvement property depreciation To recognize the rules related to the exclusion of certain employer payment of student loans Table of Contents

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.	Course Info: Course #: 400H Delivery: Self-Study CPE Hours: 2 Course Level: Basic Prerequisites: None Advanced Preparation: None Category: Ethics Total Pages: 49 Questions: 10
IRS Program Approval Number: XE26W-E-00330-22-S
Course Objectives To recognize characteristics of common frivolous tax positions To identify the penalties and fines that may be assessed in frivolous tax cases To identify the current “Dirty Dozen” tax scams Table of Contents