Instructor for this course
more

The Tax Cuts and Jobs Act dramatically changed the U.S. Tax Code starting in the 2018 tax year. This course will provide a review of the individual tax reforms section of the Tax Cuts and Jobs Act bill (H.R.1). This course will provide a summary description of all provisions referenced in this section of the Tax Cuts and Jobs Act, and will identify the provisions that were changed in the Individual Tax Reforms section. This course will cover the following topics:

  • Reduction and Simplification of Individual Income Tax Rates
  • Treatment of Business Income for Individuals, Trusts, and Estates
  • Simplification and Reform of Family and Individual Tax Credits
  • Simplification and Reform of Deductions and Exclusions
  • Simplification and Reform of Savings, Pensions, and Retirement
  • Alternative Minimum Tax
  • Elimination of Shared Responsibility Payment for Individuals Failing to Maintain Minimal Essential Coverage

Learning Objectives

  • Explore and review the Individual Tax Reforms provisions and identify which sections changed for 2018 and which were updated for 2020.
  • Recognize the tax rate changes for the four types of individual taxpayers.
  • Recognize the new standard deduction amounts for the four types of individual taxpayers.
  • Identify where to find more information about each provision in part 2 of this course.
  • Identify the effective date for all individual tax provisions in the Tax Cuts and Jobs Act.
Last updated/reviewed: Aug 11, 2020

3 Reviews (13 ratings)Reviews

5
Member's Profile
This was a very great synopsis of the tax cuts and jobs act. It's better to listen then to read. He speaks clearly and I found that easier to follow then trying to read along?
3
Member's Profile
Need the notes to the lecture. had to do a lot of research to get the 87%
5
Member's Profile
Good overview of the changes and updates made to the tax law.

Prerequisites

Course Complexity: Intermediate

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
  1:42Introduction to Tax Cuts and Jobs Act: Individual Tax Reform 2020
  30:06Reduction and Simplification of Individual Income Tax Rates
  1:54Treatment of Business Income for Individuals, Trusts, and Estates
  29:52Simplification and Reform of Family and Individual Tax Credits
  23:47Simplification and Reform of Deductions and Exclusions
  11:17Simplification and Reform of Savings, Pensions, and Retirement
  3:36Alternative Minimum Tax
  1:16Elimination of Shared Responsibility Payment for Individuals Failing to Maintain Minimal Essential Coverage
  8:44Other Provisions and Conclusion
CONTINUOUS PLAY
  1:52:14Tax Cuts and Jobs Act: Individual Tax Reform 2020
SUPPORTING MATERIALS
  PDFSlides: Tax Cuts and Jobs Act: Individual Tax Reform 2020
  PDF Tax Cuts and Jobs Act: Individual Tax Reform 2020 Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM