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

	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.	Course Info: Course #: 200I Delivery: Self-Study CPE Hours: 10 Course Level: Basic Prerequisites: None Advanced Preparation: None Category: Federal Tax Law Total Pages: 286 Questions: 50
IRS Program Approval Number: XE26W-T-00375-23-S
Course Objectives 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 To identify the most common reasons for identity theft To recognize the requirement of consumer reporting agencies to provide individuals with credit reports To identify common schemes used in perpetrating identity theft To recall the impacts of using fraud alerts To recall an individual’s limited responsibility for unauthorized credit card charges To identify common sources for child identity theft To recognize the impact on a victim of criminal identity theft To recognize the security measures that should be taken due to advances in wireless technology To identify the control recommendations for protecting the security of social security numbers To recognize ways businesses can help prevent identity theft To recall the requirements of the Gramm-Leach-Bliley Act To identify what is governed by the Financial Privacy Rule To recognize who is impacted by the Safeguards Rule To recognize the impact of the federal Disposal Rule To recall who must comply with the Red Flags Rule 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 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.	Course Info: Course #: 300I Delivery: Self-Study CPE Hours: 3 Course Level: Basic Prerequisites: None Advanced Preparation: None Category: Federal Tax Law Update Total Pages: 109 Questions: 15
IRS Program Approval Number: XE26W-U-00376-23-S
Course Objectives • To identify the individual income tax rate changes affecting taxpayers To recognize how to calculate 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 2023 standard deduction amounts available to taxpayers To recognize the changes made to the alternative minimum tax exemption amount for 2023 To recall the tax-free United States savings bond income limits for taxpayers who paid qualified higher education expenses in 2023 To recognize how to calculate 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 how to calculate 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 2023 related to the: • Health flexible spending arrangement contribution limits, • Small business health care tax credit, and • Large employer shared responsibility provision To recognize the eligibility rules applicable to Archer MSAs and HSAs To recognize how to calculate the maximum contributions that may be made to an Archer MSA To recall the tax treatment rules to contributions to and distributions from Archer MSAs and HSAs To recognize 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 recognize the rule change affecting deductibility of business meals in 2023 To identify the energy-efficient home improvement provisions of the Inflation Reduction Act To recognize the tax credits available for a new or previously-owned clean vehicle To identify the qualified refueling property credit To identify the provisions designed to expand retirement plan coverage and increase retirement savings To recall the provisions designed to enable plan participants to preserve their retirement income To recognize the provisions that simplify retirement plan rules To identify those provisions designed to enhance federal revenue 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 #: 400I Delivery: Self-Study CPE Hours: 2 Course Level: Basic Prerequisites: None Advanced Preparation: None Category: Ethics Total Pages: 46 Questions: 2
IRS Program Approval Number: XE26W-E-00377-23-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