• Course Information

    Title: Federal Income Tax Changes - 2021
    Category: Taxation
    Field of Study: Taxes
    Course Code: T021-0557
    CPE Credits: 6.0
    Price: $49.95


Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine the tax changes that took effect as a result of passage of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the inflation-changed limits effective for 2021 that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Paul Winn

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Publication Date: 01/08/2021

Technical Details: Taxes: Technical

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Chapter 1
1. Identify the individual income tax rate changes affecting taxpayers;
2. Calculate the standard mileage deductions;
3. Identify the 2021 standard deduction amounts available to taxpayers;
4. Recognize the changes made to the alternative minimum tax exemption amount for 2021;
5. Apply the tax-free United States savings bond income limits for taxpayers who paid qualified higher education expenses in 2021;
6. Calculate the tax-deductible premiums for and tax-free benefits received under qualified long-term care insurance contracts;
7. Determine the amount of assets that may be passed tax-free at death; and
8. Identify the qualified business income (QBI) threshold amount.

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QAS: Yes

CPA: Suitable for all CPAs

IRS: Enrolled Agents Program Number 263UK-U-00227-21-S

Profession Identifiers : CPA, EA

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