Annual Federal Tax Refresher (AFTR) Course

Annual Federal Tax Refresher (AFTR) Course

Price: $59.00

For Preparation of 2017 Individual 1040 Tax Returns

Successful completion of the 2018 Annual Federal Tax Refresher (AFTR) Course counts toward the voluntary annual requirement for obtaining an IRS Annual Filing Season Program (AFSP) Record of Completion for the 2018 filing season.

The Annual Federal Tax Refresher (AFTR) Course

This course includes online and printable Study Guides for each section and an online AFTR Comprehension Test. To pass the course, you must score 70% or better on the AFTR Comprehension Test. Review the study guides and take the test as many times as needed. Six hours of AFTR Course and Test credits are reported to the IRS upon completion of this course.

Course Description

  • 6 hour course
  • Plus, 100 question comprehension test (3-hr timed test)
  • Prior tax preparation experience/knowledge is required

Course Materials/Resources

  • Online Text by Universal Accounting Center
  • Federal income tax reference material
  • Automatic grading (instructional guidance available)
  • Student forum
  • Certificate of Achievement upon completion
  • IRS notified upon successful completion of the course/test

AFTR Course Topics Include

  • New Tax Law Updates/Most Recent Updates Available*
    • Highlights include:
      • Inflation Adjustments
      • Increase in Repair Regulation Safe Harbor Amounts
      • Summary of the PATH Act of 2015 for Individuals
      • Review of Tax Return Due Dates, Including Extensions
  • General Review
  • Highlights include:
    • Filing Status
    • Tax Related Identity Theft
    • ITINs
    • Dependency Exemptions
    • Taxability of Income and Earnings
    • Schedule B, Part III, Foreign Accounts and Trusts
    • Taxable Refunds, Credits or Offsets of State and Local Taxes
    • Unemployment Compensation
    • Self-Employment
      • Income
        • Business vs Hobby
        • Gross Receipts
      • Expenses
      • Car and Truck Expenses
      • Business Use of Home
      • Recordkeeping Requirements
    • Reporting and Taxability of Social Security Benefits
    • IRAs, Pensions, Annuities and Penalties for Early Withdrawals
    • IRA Rollover Limits (one per year)
    • Early Withdrawal Penalty
    • Schedule D and Form 8949, Capital Gains and Losses
    • Credits Related to Qualified Child(ren), EIC, Child Tax and Additional Child Tax
    • Child & Dependent Care
    • Education Credits
    • Retirement Savings Contribution Credit
    • Reconciliation of Advanced Premium Tax Credit
    • Individual Shared Responsibility Payment
    • Understanding Reporting for Forms 1095A, 1095B and 1095C
    • Credits & Eligibility Rules
    • ACA Provisions
    • Adjustments to Income
    • Itemized vs Standard Deductions
    • Payment and Refund Options (including maximum of 3 deposits in one account)
    • Withholdings and Estimated Tax Payments
  • Highlights include:
    • Requirement:
      • To Furnish the Taxpayer with a Copy of a Return and Related Penalty for Not Doing So
      • For Signing the Return as a Return Preparer and Related Penalty for Not Doing So
      • To Furnish Identifying Number as Return Preparer and the Related Penalty for Not Doing So
      • To Retain a Copy of the Return or List and Related Penalty for Not Doing So
    • Prohibition of Negotiation of Client Refund Checks
    • Due Diligence (Form 8867 and EIC Worksheets)
    • E-file Compliance Procedures
    • Timing of Taxpayer Signature
    • Timing of Filing
    • Recordkeeping
    • Prohibited Filing with Pay Stub
    • Proper Handling of Rejected Returns
    • Penalties for Negligent or Intentional Disregard of Rules and Regulations and for Willful Understatement of Liability including PATH ACT Changes
    • Adherence to Duties and Restrictions Found in Sup-part B and Section 10.51 of Circular 230.
    • Limited Representation Rights
    • Annual Filing Season Requirements
  • Ethics, Practices and Procedures

*New tax laws enacted, provision changes or updates that occur after publication of this course will be included in the TAX LAW UPDATE provided at various intervals throughout the year, with the final update being posted in February.

Teaching Method

  • Online - Study 24/7/365 anywhere with an Internet connection

Availability

  • Our current courses are based on last year's tax law because this year's tax code is not finalized until December. We provide all students with a free Tax Law Update once the IRS issues updates.

Term

  • Must be completed with a passing score by 12/31 each year for it to be accepted by the IRS.
  • Universal Accounting Center will provide support for this product and all other CE through 12/28 each year. We highly recommend completion of this course prior to 12/28 to ensure the following support:
    • Instructor
    • Administrative
    • Technical

CE Credit Eligibility

  • 6 hours of CE Credit

The AFTR is a short federal tax refresher course for experienced tax preparers and will not enable a person who is not an experienced tax preparer to learn how to prepare income tax returns. If you are interested in becoming a tax preparer, you should consider the Professional Tax Preparer (PTP) program.

No CE credit will be given to Enrolled Agents for completing an AFTR course.

The IRS has introduced the voluntary Annual Filing Season Program.

The program is directed at preparers who are not licensed as attorneys, CPAs or enrolled agents. These preparers would generally need to complete a 6-hour Annual Federal Tax Refresher course (AFTR) and obtain a score of 70% or higher on the associated 100-question comprehension test as well as meet additional CPE requirements (see CPE tab).

Anyone who passed the Registered Tax Return Preparer (RTRP) exam is exempt from this testing. See all of the exceptions on the AFTR tab.

Once a tax preparer has met all requirements for the voluntary program, a certificate will be available in the PTIN holder's online IRS account for printing. The requirements are:

  • Valid PTIN for the upcoming filing season;
  • The appropriate number of continuing education credits;
  • Completion of the AFTR course with 70% or higher score on the comprehension test (if required); and
  • Consent to the Circular 230 obligations.

Any unenrolled preparers not already bound by Circular 230 will need to sign an agreement to follow subpart B and §10.51 before being able to print the AFSP – Record of Completion. There will be no additional cost to the preparer to print the Completion certificate.  In February 2015, the IRS launched a public listing on its website of all attorneys, CPAs, enrolled agents, enrolled retirement plan agents and enrolled actuaries with a valid PTIN, as well as all AFSP – Record of Completion holders. This will be a searchable, sortable Directory of Federal Tax Return Preparers​ so that taxpayers can find a preparer that carries their preferred credentials or qualification(s).

*Any new tax law enacted after publication of this outline may be voluntarily incorporated into the course. However, there is no requirement that this new material must also be included in the test.
**Please remind course participants to go into their PTIN account and sign the Circular 230 Consent statementin order to participate in the Annual Filing Season Program. For steps on how to completethe consent, see the instructional video in the upper right corner of the Annual Filing Season Program web page on IRS.gov at:

No Videos added.

Information coming soon.

 

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