Tax Cuts and Jobs Act - Individual Tax Reform - 8 CPE Credit Hours

CPE Credit: 8 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. The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This course will provide a thorough review of the Individual Tax Reform portion of the 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 Individual Tax Reform section of the Tax Cuts and Jobs Act. It will identify which sections changed and which remained the same. Each provision will reference 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 able to:

• Review the Individual Tax Reform provisions and identify the provisions that have been changed and the provisions that were not changed with the Tax Cuts and Jobs Act;

• Recognize the tax rate changes for the four types of individual taxpayers

• Recognize the new standard deduction amounts for the four types of individual taxpayers

• Identify where to find more information about each provision in part 2 of this course; and

• Identify the effective date for all individual tax provisions in the Tax Cuts and Jobs Act.