2024 Annual Federal Tax Refresher (AFTR)
This in-depth 6-hour Annual Federal Tax Refresher (AFTR) course offers a thorough examination of the current provisions and recent updates to the tax code. Additionally, this course offers a comprehensive review of the fundamental elements crucial for preparing individual 2024 …
Overview
This in-depth 6-hour Annual Federal Tax Refresher (AFTR) course offers a thorough examination of the current provisions and recent updates to the tax code. Additionally, this course offers a comprehensive review of the fundamental elements crucial for preparing individual 2024 tax returns prepared in 2025. This encompasses critical developments expected to influence individual tax returns in the upcoming filing season.
By taking this refresher course, you’ll be gaining a competitive edge in the ever-evolving world of tax preparation. Be prepared to delve into practices, procedures, and professional responsibilities outlined in Circular 230, empowering practitioners with the knowledge and insights necessary for a successful filing season.
Understanding the key updates for the upcoming 2025 tax season (applicable to 2024 tax returns) provides tax professionals with the advantage over non-credentialed preparers, arming them with valuable knowledge and information.
This AFTR course consists of three domains developed by the IRS: Tax Law/Recent Updates, General Review, and Practices, Procedures, and Professional Responsibility. The course content is presented in an engaging manner, emphasizing practical solutions to common tax preparation challenges. It is enriched with numerous examples and illustrations that demonstrate the application of pertinent rules in real-world scenarios.
Syllabus
Prerequisite: Although there is no prior knowledge needed, a high school diploma or an equivalent is recommended. All individuals must possess a valid Preparer Tax Identification Number (PTIN) prior to preparing tax returns for money. All program participants are required to register for the program using their PTIN.
Course Objectives: The user is expected to recognize the relevant changes affecting 2024 individual tax returns and identify the applicable inflation adjustments and thresholds affecting 2024 individual tax returns. Topics included are best practices and procedures of tax records and documentation, due diligence, potential sources of taxable income and deductible expenses, the rules of professional responsibility applicable to preparers and preparer penalties and updated laws pertaining to the tax code.
Course Policies and Attendance Requirements: This course is designed in an online self-paced format, offering convenience and flexibility to learners. Upon purchase, students have access to the course materials for a duration of six months. The reading assignments are presented in a clear step-by-step manner, allowing for easy comprehension.
Review questions are placed strategically throughout the course and presented in a multiple-choice format. These questions are skillfully crafted to assess the understanding of the completed reading material. Once the answers are submitted, students will receive immediate access to an answer key. While there is no minimum passing grade for the review questions, it is strongly recommended that students review the relevant reading material if they score below 70%.
At the end of the course, students will be required to complete a 100 question AFTR final exam encompassing all the topics covered. The student will receive a pass or fail grade but will not be provided with an answer key or feedback on incorrect questions. Per IRS regulations, we cannot display any AFTR exam questions for completed exams. The final exam must be passed with a 70% or better score in order to meet the 6-Hour AFTR CE requirement and to receive a Certificate of Completion. Successful course completion is reported to the IRS by Tax IQ Academy within three business days.
You have a maximum of three continuous hours to complete the 100 question AFTR exam. You may attempt the test a maximum of 4 times to receive a passing score of 70%. You must pass the exam by December 31st (midnight local time) to receive continuing education credit. The AFTR allows an open-book exam, therefore you can download the course pdf on the first page of the course.
This course is for non-exempt preparers who want to receive an IRS Annual Filing Season Record of Completion.