Net Investment Income Tax, Other Taxes and Penalties – 2017 Law – QAS Self-Study (No Videos)

Course Description

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.

Topics Covered

  • 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

Objectives

At 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

$70.00

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Section 10.1

QAS Self-Study (No Videos)

Course Type:

CPE Tax

Term:

2017 Tax Law

Registration Status:

Registration Open Ends: Tuesday, November 19th, 2019 11:59 PM (PDT)

Course Status

Available Started: Monday, November 19th, 2018 11:59 PM (PDT)

Ends: Thursday, November 19th, 2020 11:59 PM (PDT)

Course Length:

5 Hours

Course Fees:

Registration $5.00
Tuition $10.00
Course Materials $55.00
Total $70.00

Course Credits:

NASBA CPE 5 Hours
IRS (Federal Tax Law) 5 Hours
Oregon Tax Board 5 Hours
Oregon State Board of Accountancy 5 Hours
Texas State Board of Public Accountancy 5 Hours
New York State Board of Public Accountancy 5 Hours
QAS Self-Study 5 Hours

Field of Study

Taxes

Program Level

Intermediate

Prerequisite

Basic tax knowledge

Delivery Method

QAS Self-study (No Videos)

Educational Venue

Online Course

IRS Federal Program Number

VRD3D-T-00567-18-S

Meet Your Instructor

April Gutierrez, Enrolled Agent:
Known for her entertaining speaking style and ability to make a complex subject easy to understand, April is frequently invited to speak to business groups and news media on tax-related topics. She has a B.A. in Communication Studies from Murdoch University in Perth, Australia. She obtained her Oregon LTC in 1995.

April resides in Portland, Oregon, with her husband Jess and their two sons. Her pastimes include gardening, travel, and playtime with her Arabian horse, Fancy.

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Course Requirements

Any Time, Anywhere

Our online Learning Management System (LMS), offers you the flexibility to study at your own pace while still enjoying many of the benefits of a live classroom.

  • Watch lecture video recordings of live instructor-led classes.
  • Break to complete classwork and quiz assignments as instructed.
  • If you have a question or need help understanding your assignments, use our Q&A forum to post questions and receive answers from your instructor.
  • Complete assignments and tests then submit your answers online.

Advance Preparation Required

Our site requires an up-to-date Adobe Flash® Player and use of a high-speed Internet connection. To ensure your learning experience is worthwhile and productive, we ask all students to take the time to become familiar with our site before attending class.

Recommended Minimum Requirements

The following requirements are recommended for using this site. Few students have reported success while operating outside of these requirements, therefore these are provided as a guideline for troubleshooting if you are having difficulties viewing or operating in this site.

Operating System:
  • Windows
  • Apple
  • Unix/Linux
  • Solaris

*Your operating system should be fully updated.
**Mobile devices are not supported.

Browser:

If you encounter log in or video viewing difficulties, we strongly recommend you install Google Chrome.

In any browser, both Cookies and JavaScript must be enabled.

Connection: Broadband (512 Kbps+). Mobile hotspots are NOT supported.
Browser Plug-Ins: The latest of the following:

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/

Cancellations/Refunds

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.

Problem Resolution

Pacific Northwest Tax School gives the highest priority to delivering quality education programs. If you have concerns about our programs please contact the Pacific Northwest Tax School Education Coordinator at: [email protected]

Disclaimer

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.

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