Federal Income Tax Changes Summary - 2019
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The Federal Income Tax Changes Summary - 2019 course examines the current tax changes that are more significant from the perspective of an income tax preparer. Context is provided, as appropriate, to assist in understanding the changes. A brief discussion of the individual taxpayer provisions of the Tax Cuts and Jobs Act of 2017 is also included. |
Course Info:
- Course #: 3225B
- Delivery: Self-Study
- CPE Hours: 3
- Course Level: Basic
- Prerequisites: None
- Advanced Preparation: None
- IRS Category: Federal Tax Law Update
- Total Pages: 90
- Questions: 15
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EA Program Approval Number: XE26W-U-00214-19-S
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Course Objectives
- To recall the various standard mileage deductions
- To identify the 2019 standard deduction amounts available to taxpayers
- To recognize the changes made to the alternative minimum tax exemption amount for 2019
- To recall the tax-free United States savings bond income limits for taxpayers who paid qualified higher education expenses in 2019
- To recognize the tax-deductible premiums for and tax-free benefits received under qualified long-term care insurance contracts
- 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 made by the PPACA effective in 2019 related to the health flexible spending arrangement contribution limits
- To identify the changes made by the PPACA effective in 2019 related to the penalty for individuals who fail to comply with the PPACA mandate to maintain minimum essential coverage in 2019
- To identify the changes made by the PPACA effective in 2019 related to the small business health care tax credit
- To identify the changes made by the PPACA effective in 2019 related to the large employer shared responsibility provision
- To recognize the eligibility rules applicable to Archer MSAs and HSAs
- To identify 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 identify the traditional IRA tax deduction available to a taxpayer who is an active participant in an employer-sponsored retirement plan
- To recognize the AGI limits that apply to a taxpayer’s eligibility to make a Roth IRA contribution
- To identify individual tax rate changes affecting taxpayers
- To recognize the changes made to the various exemptions and deductions available to taxpayers
- To recall the changes to the individual taxpayer penalty for failing to maintain minimum essential coverage
Table of Contents
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