ABOUT THIS COURSE:
This Tax Preparation Course is designed to help you successfully start up your own tax business and give you the knowledge, tools, and skills needed to fulfill the IRS requirements. This course will give you a basic understanding of tax law and practice, and discuss the rules and regulations needed to prepare a Federal Individual Income & Small Business Tax Return for the general public. Upon completion of this course, all students should have the necessary skill sets and confidence to prepare a variety of individual and small business tax returns, be able to answer taxpayers' questions, research tax issues, laws, & publications, and know how to successfully operate your own tax office.
Example Curriculum:
COURSE INTRODUCTION
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MODULE 1.1 - BECOMING A REGISTERED TAX PREPARER
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MODULE 1.2 - BECOMING AN ERO (ELECTRONIC RETURN ORIGINATOR)
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- Starting Up Your Tax Business From Scratch
- The Role of an ERO (Electronic Return Originator)
- Obtain Your EFIN (Electronic Filing Identification Number)
- How to Maintain, Monitor, & Protect Your EFIN (Electronic Filing Identification Number)
- WISP Plan
- E&O (Errors & Omissions) Insurance
- Cyber Security
- Module 1.2 - Practice Quiz
MODULE 2 - CUSTOMER SERVICE & ETHICAL OBLIGATIONS OF A PREPARER
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- Customer Service in the Tax industry (8:23)
- Circular 230 - Professional Responsibility and Ethical Obligations of a Tax Preparer (3:25)
- Who Can Practice Before the IRS? (11:41)
- Due Diligence & Record Keeping (13:56)
- Understanding Tax Laws & Regulations
- Important Tax Dates & Deadlines (3:06)
- Module 2 - Important Resources
- Module 2 - Practice Quiz
MODULE 3 - INTRODUCTION TO TAX PREPARATION
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- Introduction to Tax Preparation
- Overview on Paper and Electronic Filing Methods
- Filing Status and Requirements (10:36)
- Dependents - Qualifying Child vs Qualifying Relative (15:42)
- Who Must File a Tax Return? (8:08)
- Finding Tax Forms & Publications
- Module 3 - Important Resources
- Module 3 - Practice Quiz
MODULE 4 - INDIVIDUAL TAX RETURNS (THE 1040 FORM)
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MODULE 5 - TYPES OF INCOME & COMMON TAX FORMS
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MODULE 6 - SMALL BUSINESS TAX RETURNS (THE SCHEDULE C)
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MODULE 7 - TAX LAW CHANGES & UPDATES
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MODULE 8 - MARKETING YOUR TAX BUSINESS
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