Net Investment Income Tax, Other Taxes, and Penalties – 2017 Law – Course Manual Only
This course covers a variety of topics and miscellaneous items that affect preparation of individual tax returns including: net investment income tax, amended returns, the kiddie tax, estimated taxes, other taxes, and penalties.
- Tax on uncollected social security and Medicare wages
- Household employment taxes
- Additional Medicare tax
- Net investment income tax (NIIT)
- Other taxes
- Federal refund direct deposit
- Refund offsets
- Injured spouse allocation
- Innocent spouse relief
- Tax payment options and methods
- Options for filers who can’t afford to pay tax owed
- Estimated tax payments
- Penalty for underpayment of estimated tax
- Amended tax returns
- Kiddie tax on investment income of children
By the conclusion of this course, you should be able to
- Explain how to calculate income tax for a taxpayer who is claiming the foreign earned income exclusion
- Describe procedures for determining worker status as employee or independent contractor using Form 8919 Uncollected Social Security and Medicare Wages, and Form SS-8 Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding
- Describe procedures and rules for determining the amount of household employment tax owed on wages paid to household employees
- Calculate the Net Investment Income tax using Form 8960 and the Additional Medicare tax using Form 8959
- Outline various refund delivery methods available to filers
- Describe procedures for filing an injured spouse claim using form 8379 Injured Spouse Allocation
- Describe methods taxpayers can use to pay their taxes
- Describe options available to filers who are not able to pay their taxes
- Determine if injured spouse relief may be available to a taxpayer
- Describe the difference between an injured spouse allocation and an innocent spouse claim
- Explain how to request additional time to pay a balance owed
- Explain estimated tax rules and penalties relating to underpayment of estimated taxes
- Identify when a tax preparer can represent a client under a valid power of attorney
- Describe the purpose of Form 8821 Tax Information Authorization
- Prepare Form 1040X Amended U.S. Individual Tax Return
- Describe how to include a child’s investment income on the parent’s tax return using Form 8814 Parent’s Election to Report Child’s Interest and Dividend Income
- Determine if a child must pay “kiddie” tax at the parent’s higher rate using Form 8615 Tax for Certain Children who have Investment Income of More Than $2,000
The course manual is delivered as a PDF document which you can download and print.
Course Manual Only
2017 Tax Law
Ends: Tuesday, November 19th, 2019 11:59 PM (PDT)
Started: Monday, November 19th, 2018 11:59 PM (PDT)
Ends: Thursday, November 19th, 2020 11:59 PM (PDT)
Course Credits: 0
No CE is awarded with the purchase of this manual. You must enroll in and complete the full version of this course to received CE.
Field of Study
Basic tax knowledge
Disclosures and School Policies
Terms of Enrollment
Pacific Northwest Tax School’s course materials and teaching techniques are valuable proprietary information of Pacific Northwest Tax School, and all such information is subject to copyright, including written, recorded, internet based as well as all other electronic media. Each Student agrees that she/he will use the information only for purposes of education and training; and as a condition of enrollment, that they will not disseminate the information to any third party and will treat the materials as confidential information of Pacific Northwest Tax School. As a condition of enrollment, Students pledge not use any information in any competitive fashion, including to create or derive competitive materials. Students further agree that any breach of these terms and conditions shall cause the school irreparable harm, entitling Pacific Northwest Tax School to injunctive relief, as well as any other remedy that may be available at law or equity. Students taking continuing education courses shall have twelve months from date of enrollment to successfully complete the course and receive their Certificate of Completion. Students taking the federal only portion or the Oregon 80 Hour Basic Tax Course students have nine months from the date of enrollment to sucessfully complete the course.
Basic Tax Law
Students taking any Basic Tax Law course, agree to comply with all Terms of Enrollment outlined the enrollment agreement form for that course, a link to which can be found on the catalog page for each Basic Tax course.
Prerequisites & Advance Preparation
Students intending to write the Oregon State Tax Exam, must be at least 18 years of age, and have High School Diploma or GED. Students using our self-paced internet based program should prepare for classes by downloading and printing course materials. For more information including detailed course descriptions and learning objectives, view the details of each course, located on Pacific Northwest Tax School’s catalog pages at: https://www.pnwtaxschool.com/list-of-all-courses/
Continuing professional education courses including interactive, non-interactive and correspondence program fees are non-refundable and non-transferable. Webinars/Webcasts are non-transferable and in most cases non-refundable. A student may choose to be switched to another Webinar/Webcast of equal or lesser value if a conflict with the scheduled time exists. In the case of a missed Webinar/Webcast a request to transfer to a new Webinar/Webcast must be made with 48 hours of when the Webinar/Webcast aired. Refunds will be issued ONLY prior to the start of the Webinar/Webcast. A $15.00 processing fee will be withheld from all refund amounts. For more information regarding administration policies including complaints and refunds, please contact our offices at 503-646-5600.
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Manuals distributed and programs sponsored by Pacific Northwest Tax School are designed to teach application of tax laws. Pacific Northwest Tax School works to provide accurate and timely material to students, however the school does not have any responsibility if human and/or mechanical error exists. Accordingly, no assurance is given by Pacific Northwest Tax School that such information is totally comprehensive or accurate in its coverage of such subject matter. Information published or sponsored by Pacific Northwest Tax School should not be relied upon as a substitute for independent research to original sources of authority such as the Internal Revenue Code, IRS Publications and Internal Revenue Rulings. Pacific Northwest Tax School, its authors, and instructors do not render legal, accounting, or other non-educational professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. Credit hours are subject to change without notice.