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
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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
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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
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3-Hour Federal Tax Law Update
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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
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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
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2-Hour Ethics for Tax Preparers
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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
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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
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