Inside This Course:
From 1040 to Refund is built to give you a solid foundation in the U.S. federal tax system, with a clear focus on the day-to-day realities of preparing returns for individuals, employees, and small businesses. You’ll walk through how to prepare individual tax returns accurately and efficiently, including Form 1040 and Schedules A, B, C, EIC, 1, 2, and 3, and you’ll learn the difference between above-the-line and below-the-line deductions, current tax rates, state tax considerations, and what it takes to stay compliant with IRS regulations.
A major part of the course is learning to identify the correct filing status for a taxpayer and determine their eligibility for the credits and deductions that actually move the needle on their liability. You’ll build real proficiency in reporting different types of income and deductions, and you’ll come away able to read and interpret Form 1040 with confidence, making sure everything on that return is reported correctly the first time.
This course is built for beginners — whether you’re new to tax prep entirely, want a better handle on your own taxes, or you’re considering tax preparation as a career. By the time you finish, you’ll have the skill set and confidence to start preparing individual and small business tax returns, along with a working understanding of the ethical considerations in tax preparation and the penalties tied to non-compliance and fraudulent reporting.
Upon successful completion, participants will receive a certificate of completion for 5 hours of continuing education in the federal tax law topics category.
Curriculum
- 20 Sections
- 115 Lessons
- 26 Weeks
- Introduction1
- Chapter 1: IRS Credentials and Professional Designations11
- 2.1IRS Credentials and Professional Designations
- 2.2Understanding What “Regulated” Means in the Tax Industry
- 2.3Credentialed Tax Professionals
- 2.4Non-Credentialed Tax Preparers
- 2.5IRS-Recognized Tax Professional Designations
- 2.6Certified Public Accountants (CPAs)
- 2.7Attorneys
- 2.8Enrolled Agents (EAs)
- 2.9Annual Filing Season Program (AFSP)
- 2.10The Directory of Federal Tax Return Preparers
- 2.11Preparer Tax Identification Number (PTIN)
- Chapter 2: Filing Status and Filing Requirements7
- Chapter 3: Qualifying Dependents and Support Tests4
- Chapter 4: Tax Rates1
- Chapter 5: Income7
- Chapter 6: Credits vs Deductions4
- Chapter 7: Itemized Deduction vs Standard Deduction5
- Chapter 8: Credits13
- 9.1Credits
- 9.2Child Tax Credit
- 9.3Credit for Other Dependents
- 9.4Child and Dependent Care Credit
- 9.5Earned Income Tax Credit (EITC)
- 9.6Education Credits—American Opportunity and Lifetime Learning
- 9.7American Opportunity Tax Credit (AOTC)
- 9.8Lifetime Learning Credit (LLC)
- 9.9Credit Calculation
- 9.10Information To Claim Certain Credits After Disallowance
- 9.11PATH Act
- 9.12Premium Tax Credit
- 9.13Review Question1 Question
- Chapter 9: Self-Employment Income12
- 10.1Self-Employment Income
- 10.2Quarterly Estimated Tax Payments
- 10.3Business Expenses Deductions
- 10.4Business Vehicles
- 10.5Standard Mileage Rate
- 10.6Actual Expense Method
- 10.7Business Travel
- 10.8International Travel
- 10.9Other Business Deductions
- 10.10Qualified Business Income (QBI)
- 10.11Home Office Deduction
- 10.12Review Question1 Question
- Chapter 10: Business Structures7
- Chapter 11: Forms & Schedules (How to Read Form 1040)37
- 12.1Forms & Schedules (How to Read Form 1040)
- 12.2Form 1040 – U.S. Individual Income Tax Return
- 12.3Above-the-Line vs Below-the-Line Deductions
- 12.4Form W2 – Wage and Tax Statemen
- 12.5Schedule A – Itemized Deductions
- 12.6Schedule B – Interest and Ordinary Dividends
- 12.7Schedule C – Profit or Loss from Business
- 12.8Schedule D – Capital Gains and Losses
- 12.9Schedule E – Supplemental Income and Loss
- 12.10Schedule EIC – Earned Income Credit
- 12.11Schedule SE – Self-Employment Tax
- 12.12Schedule 1 – Additional Income and Adjustments to Income
- 12.13Schedule 1-A – Additional Deductions
- 12.14Part I – MAGI
- 12.15Part II — No Tax on Tips
- 12.16Part III — No Tax on Overtime
- 12.17Part IV — No Tax on Car Loan Interest
- 12.18Part V — Enhanced Deduction for Seniors
- 12.19Part VI — Total Additional Deductions
- 12.20Schedule 2 — Additional Taxes
- 12.21Part I — Tax
- 12.22Part II — Additional Taxes
- 12.23Schedule 3 — Additional Credits and Payments
- 12.24Part I — Nonrefundable Credits (Lines 1-6z)
- 12.25Part II — Other Payments and Refundable Credits (Lines 9 -13z)
- 12.26Form W-4 – Employee’s Withholding Certificate
- 12.27Step 1 — Personal Information
- 12.28Step 2 — Multiple Jobs or Spouse Works
- 12.29Step 3 — Claim Dependent and Other Credits
- 12.30Step 4 — Other Adjustments (Optional)
- 12.31Exemption from Withholding
- 12.32Types of 1099’s
- 12.331099-NEC – Nonemployee Compensation
- 12.341099-MISC – Miscellaneous Income
- 12.351099-G Certain Government Payments
- 12.361099-K- Payment Card and Third-Party Network Transactions
- 12.37Review Question1 Question
- Chapter 12: State Tax4
- Chapter 13: Amended Returns3
- Chapter 14: Ethics2
- Due Diligence and Penalties2
- Chapter 15: Understanding IRS Notices2
- Chapter 16: Identity Theft- IP Pin4
- Chapter 17: Refunds4
- Final Exam1