Fundamentals of Income Taxation (v22) – Video Self Study Course

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Course Description

Please join us for an introductory course on the fundamentals of preparing and filing an individual federal income tax return. We will cover topics such as what the federal income tax is and how it is computed. This course is ideal for CPAs, CFPs, EAs and other tax preparers.

NOTE - This is a Video Self-Study Course

Learning Objectives

At the end of this course, students will be able to:

  • Identify how the federal income tax differs from other types of federal taxes.
  • Determine the steps in computing a taxpayer's federal income tax liability.
  • Differentiate tax consequences for terms commonly used for the federal income tax, such as "adjusted gross income," “qualifying child,” “tax credits,” “filing status,” and “kiddie tax.”
  • Recognize how an individual's standard deduction is determined.
  • Explain differences in the tax for ordinary income, capital gains, and qualified dividend income.
  • Discuss the difference between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions.
  • Identify deadlines for filing income tax returns and estimated taxes and how to obtain an extension of time for filing a return.

CPE Credits: 2 CPE for CPAs, CFPs, EAs and other tax preparers

Level: Basic

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: None

Advanced Preparation: None

Revision Date: April 1, 2022