Form 1040 Individual Tax Tune-Up (ITTU)

This two-day course is the go-to for a broad spectrum of highlights regarding individual return preparation. In the cacophony of economic changes, we will filter out the noise and walk you through the most consequential tax changes of recent legislation. We’ll also address this year’s key revenue rulings, procedures, and case law, with practical tips and insights to help you have your most successful season ever.

Learning Objectives

• Maintain a broad understanding of the hot issues and changes in individual tax preparation
• Understand a “hodge-podge” of practice issues affecting preparers of individual tax returns

Major Topics

• A tour of the most recent form changes, from gross income to tax brackets and selected credits including the latest IRS guidance on tax legislation
• Individual tax issues and a review of important new practice issues and regulations
• Schedule 1 adjustments for excess deductions upon the termination of trusts and estates
• Proposed regulations that clarify the definition of a “qualifying relative”
• Retirement distributions, including new rules in the SECURE Act 2.0
• Section 461(l)
• Increased oversight of paid tax return preparers
• Hot, hidden, or miscellaneous developments affecting the upcoming tax season
• Housekeeping and winning the audit lottery
• Numbers applicable to this year’s tax filings
• The impact of recent legislation and changes to Form 1040
• Donor-advised funds and miscellaneous tax planning strategies