• Courses

    About Courses

    • Introduction to Taxation / General Overview
    • Course 1
    • Courses Archive
    • Become an Instructor
    Sigma Software Training Course

    Sigma Software Training Course

    Free
    Read More
  • Blog
  • STUDENT RESOURCE CENTER
  • Contact
  • Cart
  • My account
      • Cart

        0
    Have any questions?
    773.498.4705
    education@marshalltaxservice.com
    RegisterLogin
    Marshall Tax SchoolMarshall Tax School
    • Courses

      About Courses

      • Introduction to Taxation / General Overview
      • Course 1
      • Courses Archive
      • Become an Instructor
      Sigma Software Training Course

      Sigma Software Training Course

      Free
      Read More
    • Blog
    • STUDENT RESOURCE CENTER
    • Contact
    • Cart
    • My account
        • Cart

          0

      Chapter 1

      • Home
      • All courses
      • Chapter 1
      • Course 1

      Course 1

      User Avatar
      Head Master
      Chapter 1, Course 1
      (1 review)
      $305.99 $199.99
      Buy Membership
      business_taxes
      • Overview
      • Curriculum
      • Instructor
      • Reviews

      There are 15 Sections to this course:

      1. Determine who should file a return
      2. Identify filing requirements for most taxpayers
      3. Identify filing requirements for dependents
      4. The Tax Cuts and Jobs Act of 2017
      5. Discuss Form 1040 and the three numbered schedules that accompany the form
      6. Discuss the new Form 1040SR for Seniors
      7. Determine when, where, and how to file; then, choose the method of payment
      8. Summarize accounting periods and methods
      9. Discuss the requirement for a correct Social Security number or taxpayer identification number when filing a tax return
      10. Identify the correct filing status for taxpayers
      11. Determine if the taxpayer is a resident or nonresident alien
      12. Discuss the Importance of the Path Act
      13. Describe the information presented on the taxpayer’s W-2 form
      14. Discuss Paid Preparer Penalties and Responsibilities
      15. Provide an overview of the tax return filing process

       

      The Key Terms that you will learn about are:

      • Adjusted Gross Income (AGI)
      • Adjustments to Income
      • Dependent
      • Exemptions
      • Filing Status
      • Gross Income
      • Nonresident Alien
      • Resident Alien
      • Taxable Income

      Course Features

      • Lectures 16
      • Quizzes 12
      • Duration 40 hours
      • Skill level All levels
      • Language English
      • Students 321
      • Certificate Yes
      • Assessments Self
      CoursesCourse 1Course 1
      • Reasons for a Taxpayer to File a Return, Even When Not Required 2

        There are additional reasons a taxpayer must file a tax return, such as they owe special taxes, are subject to recapture of certain credits, or received advance payments of the premium tax credit.

        • Lecture1.1
          Chapter 1 – Who Should File a Return? 01 hour 20 min
        • Quiz1.1
          Review – Question 1 1 question
      • Filing Requirement for Most Taxpayers 2

        Filing requirements are based on the standard deduction amount for the taxpayer. The filing status determines the standard deduction.

        • Lecture2.1
          Chapter 1 – Filing Requirements for Most Taxpayers 30 min
        • Quiz2.1
          Review Question 2 1 question
      • Dependent Filing Requirements 3

        If a parent (or someone else) can claim the person as a dependent, and any of the situations listed in Charts 1-1 and 1-2 apply to them, they must file a return.

        • Lecture3.1
          Chapter 1 – Chart 1-1 30 min
        • Lecture3.2
          Chapter 1 – Dependent Filing Requirements 30 min
        • Quiz3.1
          Review Question 3 1 question
      • Tax Cuts and Jobs Act 2017 1

        It is important to note the evolution of taxes and the importance of paying taxes. However, on December 22, 2017, President Donald Trump signed into law a new bill that would forever change the dynamics of taxes.

        • Lecture4.1
          Chapter 1 – Tax Cuts and Jobs Act of 2017 30 min
      • Which Schedule(s) Should Be Used? 2

        For the 2019 tax filing season, taxpayers would notice a significant difference with the Form 1040. The TCJA not only changed the dynamics of taxes, but it changed the design of the form all taxpayers were used to seeing.

        • Lecture5.1
          Chapter 1 – Which Schedule(s) Should Be Used? 30 min
        • Quiz5.1
          Review Questions – 4-6 3 questions
      • Understanding Form 1040SR 1

        To use the new form, filers, including both spouses, must be at least age 65 though they don't have to be retired.

        • Lecture6.1
          Chapter 1 – Understanding Form 1040SR 30 min
      • Filing the Tax Return and Making Payments 2

        The fiscal year (a year ending on the last day of any month except December, or a 52-53-week tax year) individual taxpayers file 3½ months after the end of the fiscal year. If the due date falls on a Saturday, Sunday, or a legal holiday, the due date extends to the next regular business day.

        • Lecture7.1
          Chapter 1 – Filing the Tax Return and Making Payments 30 min
        • Quiz7.1
          Review Question 7 1 question
      • Accounting Periods and Methods 2

        Most taxpayers use the calendar year accounting period for their individual income tax returns. A taxpayer must choose the accounting period he intends to use when they file their first income tax return. The accounting period cannot be longer than 12 months.

        • Lecture8.1
          Chapter 1 – Accounting Periods and Methods 30 min
        • Quiz8.1
          Review Question 8 1 question
      • Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) 2

        The SSN must be listed on the tax return and must be correct.

        • Lecture9.1
          Chapter 1 – Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) 40 min
        • Quiz9.1
          Review Question 9 1 question
      • Filing Status 2

        Determining the filing status is the first step when preparing a taxpayer’s return. It is also the most important.

        • Lecture10.1
          Chapter 1 – Filing Status
        • Quiz10.1
          Review Questions 10-14 5 questions
      • Resident and Nonresident Aliens 2

        To determine the residency status of an individual, the preparer must first determine if the individual is a U.S. citizen.

        • Lecture11.1
          Chapter 1 – Resident and Nonresident Aliens 31 min
        • Quiz11.1
          Review Question 15 1 question
      • The Path Act 1

        The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), was enacted on December 18, 2015.

        • Lecture12.1
          Chapter 1 – Chapter 1 – The Path Act 30 min
      • Understanding the W2 2

        All employers engaged in a trade or business and who pay wages, including noncash payments, of $600 or more per year for services performed by an employee must file a Form W-2 even if they didn’t withhold any taxes.

        • Lecture13.1
          Chapter 1 – Understand the W2 40 min
        • Quiz13.1
          Review Question 16 1 question
      • Paid Preparer Requirements 1

        Anyone paid to prepare a return must sign it in the space provided. A paid preparer can sign the return manually or use a rubber stamp, mechanical device, or computer software program.

        • Lecture14.1
          Chapter 1 – Paid Preparer Requirements 30 min
      • Get Started Preparing a Return 2

        Tax preparation doesn’t require someone to be a math major, but basic math comprehension is necessary

        • Lecture15.1
          Chapter 1 – Get Started Preparing a Return 40 min
        • Quiz15.1
          Review Question 17 1 question
      • Chapter 1 - Study Questions 1

        • Quiz16.1
          Chapter 1 – Study Questions 16 questionsFinal
      • Test Question.. 0

        No items in this section
      author avatar
      Head Master

      Reviews

      Average Rating

      5
      1 rating

      Detailed Rating

      5
      100%
      4
      0%
      3
      0%
      2
      0%
      1
      0%
      • Overview
      • Curriculum
      • Instructor
      • Reviews
      $305.99 $199.99
      Buy Membership
      NOTE: You have to pass these courses before you can enroll this course.
      • Introduction to Taxation / General Overview
      • Share:

      All Courses

      • Chapter 1
      • Course 1
      • Introduction
      • Sigma Software Training

      Latest Courses

      Sigma Software Training Course

      Free
      Course 1

      Course 1

      $305.99 $199.99
      Introduction to Taxation / General Overview

      Introduction to Taxation / General Overview

      Free
      Logo
      773 498 4705
      education@marshalltaxservice.com
      Facebook
      Twitter
      Google-plus
      Pinterest

      Company

      • About Us
      • Blog
      • Contact
      • Become a Teacher

      Links

      • Courses
      • FAQs

      Marshall Tax School by Marshall Tax School. Powered by Forward Focused Solutions.

      • Privacy
      • Terms
      • Sitemap

      Login with your site account

      Lost your password?

      Not a member yet? Register now

      Register a new account

      Are you a member? Login now

      Modal title

      Message modal