Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine the tax changes affecting 2025 as a result of passage of the H.R.1, an act to Provide for Reconciliation, and the inflation-changed limits effective for 2025 that are more significant from the perspective of an income tax preparer.

Learning Objectives

• Identify the principal individual income tax changes brought about by recent legislation
• Apply the inflation-adjusted and other limits to the proper preparation of taxpayers income tax returns
• Recognize the federal income tax filing statuses and the criteria for their use
• Identify the current status of tax extenders
• Identify the types of income that must be recognized
• Pinpoint the tax rules to the various credits and adjustments to income that are available to taxpayers