Become a 1040 Master, a.k.a. "Business Tax Ninja"

The Consolidated Appropriations Act of 2021 (CAA) was signed into law on December 27 of 2020, and along with it came more changes to the tax law that we have barely been able to sort out after the crazy COVID year of 2020 and all the tax changes that came about (Like the CARES act for example). 

With so many of these changes effective for 2020 as well as new changes for 2021, it is more important than ever to be on top of what you need to know for your clients this tax season and into the year beyond. This course will cover the numerous changes to tax law from the CAA as well effects of the CARES act and other considerations you will need in order to accurately prepare returns for your clients and advise them regarding the effect of these changes.  

In this course, we will cover provisions that affect individual taxpayers primarily, like the Economic Impact Payments (round 1 & 2), changes to extenders, unemployment, deductions, credits, and other changes to the landscape of the individual tax return, and it will enable you to quickly grasp recent tax changes and prepare you for tax season and beyond.

If you have wanted a comprehensive, easy to follow tax update course on the 2020/2021 tax law changes, this course is definitely for you!!

What You’ll Learn:

  • Understand key early tax season strategies to maximize refunds for your clients and minimize hassles for yourself (Recovery Rebate Credit, Earned Income Credit “Look Back” Option, etc.)

  • Identify new and improved tax deductions and tax credits that we might miss on 2020 tax returns if we’re not careful.

  • Hone in on new retirement account withdrawal rules, Social Security tax deferrals for self-employed clients, and other “loopholes” that can help your clients and you this tax season and beyond.

After completing this course, you should be able to:

  • Understand the new economic stimulus payments (round 1 and 2) and how they are reconciled on the 2020 tax return

  • Learn changes to EITC to allow 2019 income to be used towards 2020 if better

  • Discover deduction changes like charitable deductions, medical expense, Tuition Deduction and Mortgage Interest Deduction

  • Learn how CARES Act and CAA affects withdrawals from IRAs, deferral accounts, and in-service money purchase plans in 2020 and 2021

  • Discover how employees requesting a Social security tax deferral may have different reporting on their 2020 tax return, and long term impacts of this deferral into 2021

Meet Your Instructor

Tanya is a nationally recognized tax professional and frequent speaker on a variety of tax and representation topics. She founded Tax Edge, an accounting, tax, and representation firm in Grand Junction, CO and has been practicing for over 28 years now. After discovering a passion and curiosity for tax law and accounting, she made it her goal to never stop learning and is now passing it onto others. She enjoys consulting with clients to solve a variety of tax problems with the IRS and state in collections and examination and also helps accountants reach successful resolution for their clients while maintaining their own sanity and profitability.

Tanya Baber, EA, CTRS, NTPI® Fellow

Tax Edge

Course curriculum

  • 01

    Getting Started

    • *** Before You Start, PLEASE READ THIS!

    • Getting Started Quiz

  • 02

    The Materials

    • Glossary

    • Presentation Slides (PDF)

    • Webinar Recording (video)

    • Review Questions

    • Exam Questions

    • Q & A from Webinar

  • 03

    Final Steps

    • IMPORTANT --> Finalizing Your CE / CPE Credits, Hours Reporting Timeline, Etc.

    • 5 Minute Feedback

Additional course details

  • Education Provider: Pronto Tax School, Inc.
  • Instructional Delivery Method: QAS Self-Study Program.
  • Recommended CPE Credit: 1 hour
  • NASBA Field of Study: Taxes
  • Program Knowledge Level: Basic.
  • Prerequisites: None
  • Advance Preparation: None.
  • NASBA Sponsor: Pronto Tax School, Inc.
  • NASBA Sponsor #143984
  • IRS-Approved Education Provider: Pronto Tax School, Inc.
  • IRS Education Provider Number: MPMDK-T-00093-21-S 
  • Refund / Cancellation Policy: Full refund available within 14 days of purchase if you are unsatisfied for any reason (except if course completed more than 75%, in that case, there will be no refund available, even if within 14 day period).
  • Complaint Resolution Policy: Click the green "Need Help?" button below to contact our support team anytime. We resolve any issues amicably and working as a teammate with our valued Members.

Pronto Tax School, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.