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When filing a federal income tax return, it is very important to know who is actually required to file a return and the criteria surrounding the filing of a federal income tax return. Due to the inclusion of the Tax Cuts and Jobs Act into law, filing requirements for individual taxpayers have been drastically altered.

This course focuses on the updated filing requirements surrounding individual taxpayers across all filing types. Additionally, this course goes into detail regarding the updated basic standard deduction, additional standard deduction, personal deduction, and penalty amounts. Finally, this course goes over the filing of a deceased taxpayer's federal income tax return and the treatment of decedent income.

 

Learning Objectives

  • Recognize the new standard deduction amounts across all filing statuses.
  • Identify the requirements that must be met to file as any of the five filing statuses.
  • Identify the new standard deduction and additional standard deduction amounts.
  • Recognize the circumstances that will disallow taxpayers from taking the standard deduction.
  • Identify when a taxpayer is required to file their federal income tax return.
  • Recognize the various penalties associated with filing a return or paying taxes late.
  • Identify the tax responsibilities and treatment of income associated with a recently deceased taxpayer.
Last updated/reviewed: Aug 29, 2020

1 Review (1 rating)Reviews

5
Member's Profile
I thought this course would be more about what's new/different in 2020 but really it was very comprehensive covering off on all the basics. A 1 hour update would have been more useful to me, personally.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  5:29Introduction to Individual Filing Requirements 2020
  20:10Tax Return Requirements
  18:17Overview of Filing Statuses: Single and Head of Household
  11:54Overview of Filing Statuses: Married Filing Jointly
  10:18Overview of Filing Statuses: Married Filing Separately and Surviving Spouse
  14:34Overview of The Standard Deduction
  18:58Filing Requirements for Individual Tax Payers
CONTINUOUS PLAY
  1:39:40Individual Filing Requirements 2020
SUPPORTING MATERIAL
  PDFSlides: Individual Filing Requirements 2020
  PDFIndividual Filing Requirements 2020 Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM