Loading

2027 Tax Filing Season Update

  • ITEM SKU
    8605
  • CPE Hours
    8
  • Full Course Price
    $64.50
Exam Questions: 40
Course Level: Basic
Pages: 210 | Content: 186, Supplemental: 24
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 8605

Each year, income tax return preparation is affected by inflation-related changes to various limits and new tax laws. This course is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients’ 2026 income. The course: a) examines new tax law for the 2027 filing season, including retroactive provisions of the One Big Beautiful Bill Act (OBBBA) impacting 2026 income, and changes in various limits that reflect inflation, b) provides a general tax review, and c) discusses important rules governing tax return preparer practices, procedures, and professional responsibility. *PLEASE NOTE: This course is NOT registered to satisfy the IRS’ voluntary AFSP. In addition, course content is similar to that in #8600 - Federal Income Tax Changes Summary - 2026; therefore, we recommend that you should not take both courses in the same CPE period. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00711-26-S

Choose Your Format to ADD TO CART:

Go to CART
Purchase EXAM ONLY

Course Information

Table of Contents
  • New Tax Law/Recent Updates
  • General Income Tax Review I
  • General Income Tax Review II
  • General Income Tax Review III
  • General Income Tax Review IV
  • General Income Tax Review V
  • Practices, Procedures, and Professional Responsibility
Objectives
  • To identify the inflation and cost of living adjustments to various federal limits
  • To recognize the applicable optional standard mileage rates
  • To describe the Third Party Network Transaction reporting requirements
  • To recognize the One Big Beautiful Bill Act (OBBBA) provisions affecting various income tax credits
  • To identify the OBBBA provisions affecting various income tax deductions
  • To describe the OBBBA provisions affecting:
    - Charitable contributions,
    - 529 plan account disbursements,
    - Trump Accounts, and
    - Health Savings Accounts
  • To recall the various filing statuses and the change to the gross income limitation for a qualifying relative
  • To identify those items included in a taxpayer’s taxable earnings
  • To recognize the tax treatment of interest, dividends, foreign accounts, and trusts
  • To recall the rules governing contributions to and distributions from IRAs
  • To recall the reporting and taxability of unemployment compensation
  • To identify the itemized deductions available to a taxpayer
  • To identify the items included in self-employment income and expenses
  • To recall the difference between a hobby and a business for tax purposes
  • To recall the tax deduction for business use of a home
  • To recognize various property depreciation eligibility requirements and limits
  • To recognize the factors considered in determining the tax treatment of capital gains and losses
  • To identify standard deduction eligibility and amounts
  • To recognize the eligibility for and limits applicable to the moving expense deduction
  • To identify the eligibility requirements for various tax credits
  • To recall the recordkeeping and documentation requirements applicable to the claiming of deductions
  • To recall the eligibility requirements for and limits applicable to education credits
  • To identify the rules governing the income tax treatment of virtual currency events and transactions
  • To recognize the aggregation rules applicable to the §199A deduction
  • To identify the trades or businesses considered specified service trades or businesses (SSTBs) that may be ineligible for the pass-through deduction
  • To recognize the eligibility requirements for the Premium Tax Credit
  • To recall the rules governing HSA and MSA eligibility and contribution limits
  • To recognize the options available to a taxpayer for paying any income tax due or receiving an income tax refund
  • To identify the due dates of income tax returns
  • To identify the red flags indicating possible tax-related identity theft and suggested assistance to its victims
  • To recall the laws and regulations requiring privacy and security of taxpayer data and the best practices tax preparers may implement to help assure it
  • To recall the purpose of individual taxpayer identification numbers, their effect on tax credits, and how to renew them
  • To recognize the penalties applicable to a tax return preparer under Title 26
  • To identify the due diligence requirements imposed on tax return preparers with respect to claiming the head of household filing status, EITC, CTC, and AOTC
  • To recognize the e-file requirements
  • To recall the features of the IRS Tax Pro Account and the IRS Individual Online Account

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.