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 webinar 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 webinar 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 webinar. 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.
At the end of this webinar, students will be able to:
- Review the Individual Tax Reform provisions and identify which sections changed for 2019 and which were updated for 2020;
- 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; and
- Identify the effective date for all individual tax provisions in the Tax Cuts and Jobs Act.
CPE Credit: 2 CPE Credits for CPAs and EAs
Instructional Method: Group Internet Based
NASBA Field of Study: Taxes
Program Prerequisites: None
Advanced Preparation: None
Revision Date: April 6, 2021