2024 Federal Tax Update
94025 8

Author: Bradley Burnett

CPE Credit:  8 hours for CPAs
 

Join Bradley Burnett, J.D., LL.M., as he delivers up-to-the-day changes in federal tax law. The course, delivered at a brisk pace and with humor, is designed to meet the needs of the tax planner and return preparer by identifying and responsibly exploring recent important tax developments impacting the upcoming filing season.

Publication Date: December 2024

Designed For
Return preparers, tax planners, and taxpayers desiring to keep up with late breaking tax developments.

Topics Covered

  • Major provisions of recently enacted (and newly effective) federal tax legislation
  • Recent important court cases, regulations, rulings and related developments affecting individuals, investment, real estate, estates and trusts
  • Recent important court cases, regulations, rulings and related developments affecting businesses, C and S corporations, partnerships, businesses and estates and trusts
  • Income, employment and estate and gift taxes
  • IRS activity impact on planners and preparers

Learning Objectives

  • Recognize new federal tax developments and how they apply to both individuals and businesses
  • Identify the top tax bracket for a head of household taxpayer
  • Identify after what year many non-corporate provisions of the TCJA expire
  • Identify the 2024 AMT exemption amounts for joint returns
  • Identify the 2025 standard deduction for single taxpayers
  • Identify the 2025 school teacher above-the-line expense deduction
  • Identify the technology deployed by the IRS to select large partnerships and earned income tax credit recipients for audit
  • Identify the IRS form that relates to the U.S. Gift (and Generation-Skipping Transfer) Tax Return
  • Identify the 2025 annual exclusion for gifts of present interests to spouse not a U.S. citizen
  • Identify the IRS underpayment rate for the period of 01/01/25 – 03/31/25
  • Identify by what percent Social Security benefits are set to increase by in 2025
  • Identify the number of PEOs in the U.S.
  • Identify the 2025 IRA contribution limit (not including catch-up)
  • Identify the 2025 highly compensated employee limit
  • Identify the 2025 HSA annual contribution limit for family coverage

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic understanding of federal taxation.

Advance Preparation
None

Additional Course Details

  • Filed of Study: Taxation
  • Publisher: Wolters Kluwer
  • Course Level: Update
  • Pre-Requisites: None
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