Federal Income Tax Changes – 2022

Course Information

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Title: Federal Income Tax Changes – 2022
Category: Taxation
Field of Study: Taxes
Course Code: T022-0557
CPE Credits: 5.0
Price: 43.95



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 affecting 2022 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), the American Rescue Plan Act (ARPA) and the inflation-changed limits effective for 2022 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

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Publication Date: 02/23/2022

Technical Details: Taxes: Technical

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Chapter 1 After reading this chapter, you should be able to: 1. Identify the individual income tax rate changes affecting taxpayers; 2. Calculate the standard mileage deductions for – a. Use of a personal vehicle for business purposes, b. Use of a personal vehicle to obtain medical care, and c. Charitable use of a personal vehicle; 3. Identify the 2022 standard deduction amounts available to taxpayers; 4. Recognize the changes made to the alternative minimum tax exemption amount for 2022; 5. Apply the tax-free United States savings bond income limits for taxpayers who paid qualified higher education expenses in 2022; 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: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA