Tax Cuts and Jobs Act - A Complete Review - 30 CPE Credit Hours

CPE Credit: 30 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal tax code. 

Advanced Preparation: None

Introduction

The Tax Cuts and Jobs Act will dramatically change the US tax code in 2018. This course will provide a through review of the entire Tax Cuts and Jobs Act Bill (H.R.1.). Part 1 of this course will provide a summary description of all provisions referenced in the Tax Cuts and Jobs Act. This description will identify the provisions that were changed and the provisions that were not changed for individual tax reform, business tax reform, exempt organizations and international tax provisions. The description also provides a reference to a more detailed description of the provision in Part 2 of this course. The detailed description will review the current law, provide a detailed description of the change and identify the effective date that the provision will become effective.

Learning Objectives

At the end of this course, students will be
• Review Identify Describe when the Tax Cuts and Jobs Act provestate taxes and the purpose of estate taxes according to the Internal Revenue Code (IRC),
• Identify the various types of trusts that can be used for estate planning,
• Recognize what is included in the gross estate of a decedent,
• Calculate the gross estate of a decedent,
• Recognize the various deductions and credits available when calculating the gross estate of a decedent, and
• Describe the purpose of Generation Skipping Transfers and the Generation Skipping Transfer Tax according to the IRC.