Introduces the fundamentals of the U.S. tax system, including the types of taxes, tax brackets, and the roles of federal, state, and local governments. Lesson 1: Understanding Taxation Lesson 2: The Federal Tax System Lesson 3: Taxed Income Lesson 4: Withholding Lesson 5: Importance of the Income Tax Return

Covers the process of collecting necessary documents from clients, such as W-2s and 1099s, and explains how to determine the appropriate filing status (e.g., single, married, head of household). Lesson 1: Determining Filing Status Lesson 2: Understanding Form 1040 Lesson 3: Schedules Explained Lesson 4: Form 1040-SR Lesson 5: Third Party Designee Lesson 6: Gathering Taxpayer Documents Lesson 7: Tax Preparation Checklist

Emphasizes the ethical obligations of tax preparers, including confidentiality, integrity, and adherence to IRS regulations and guidelines. Lesson 1: Ethics & Circular 230 Lesson 2:Tax Preparer Ethics Understanding Circular 230 Lesson 3: Due Diligence Lesson 4: Interviewing Taxpayers Lesson 5: Fee Structures

Explores various sources of income (e.g., wages, interest, dividends) and allowable adjustments (e.g., student loan interest, IRA contributions) that can reduce taxable income. Lesson 1: Income Explained Lesson 2: Income from Wages & The W-2 Lesson 3: Types of Reporting Income on Form 1040 Lesson 4: Additional Income Lesson 5: Adjustments to Income (Schedule 1, Part II)

Focuses on income and expenses related to self-employment and small businesses, detailing allowable deductions and the process of depreciating business assets. Lesson 1: Business Income Lesson 2: Schedule C Tax Deductions – What You Can Write Off Lesson 3:Form 1099K Lesson 4:IRS Audit Red Flags for the self employed - IRS Audit Triggers Lesson 5: Depreciation

Differentiates between tax deductions (which reduce taxable income) and tax credits (which directly reduce tax liability), and provides guidance on maximizing both. Lesson 1: Itemized Deductions Lesson 2: Nonrefundable Credits Lesson 3: Payments & Refundable Credits Lesson 4: Taxable Scholarships & Education Credits

Addresses the importance of safeguarding client information, implementing cybersecurity measures, and complying with data protection regulations to prevent identity theft and fraud. Lesson 1: The Safeguard Rule & Basic Security Steps Lesson 2: Developing a Security Plan

Guides tax preparers through the process of electronically filing tax returns, requesting filing extensions, and making amendments to previously filed returns. Lesson 1: Electronic Filing Lesson 2: Amendments & Extensions