Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various laws passed to address the financial consequences of the coronavirus pandemic significantly affect tax planning and may also affect taxpayers’ income tax liability. This course will examine many of those changes.  

The Annual Tax Filing Season Update course discusses new tax laws and recent updates for the 2023 filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices, and procedures.

Learning Objectives:

• Give examples of how to apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns


• Recognize the federal income tax filing statuses and the criteria for their use


• Evaluate how to apply the tax rules to the various credits and adjustments to income that are available to taxpayers


• Identify the penalties that may be imposed on a preparer for failing to meet ethical and practice standards in preparing tax returns


• List the duties and restrictions imposed on tax preparers under Circular 230