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Course Information

Course No: 9275220

Course Name: Tax Cut and Job Act Summary

Field of Study: Taxes

Course Description:

The Tax Cuts & Jobs Act ("TCJA") was approved by Congress on December 20, 2017, and signed by President Trump on December 22, 2017. The Act impacts vir-tually every individual and business in a way not seen in over 30 years. With most provisions effective 2018 and later, it lowers the individual and corporate tax rates, repeals numerous tax credits and deductions, enhances the child tax credit, boosts business expensing, and impacts the Affordable Care Act (ACA) by effectively re-pealing the individual mandate.

This course is an overview providing reference to selected individual, education, business, retirement, insurance, international and estate tax provisions enacted or in-dexed for inflation by the TCJA. The resulting major tax changes carry special mean-ing to the tax practitioner and return preparer. The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes enacted by TCJA.

Learning objectives: After completing this section, you should be able to:

Apply changes imposed by the Tax Cuts & Jobs Act (TCJA) relating to individual income taxes by identifying: modifications to tax rates & the personal exemption, AMT exemptions, changes to the child tax credit, new educational incentives & student loan discharge rules, Mortgage interest & suspended deduction provisions, and Alimony & estate taxation changes.
Apply changes imposed by the Tax Cuts & Jobs Act (TCJA) relating to individual income taxes by identifying: modifications to tax rates & the personal exemption, AMT exemptions, changes to the child tax credit, new educational incentives & student loan discharge rules, Mortgage interest & suspended deduction provisions, and Alimony & estate taxation changes.
Point out key TCJA business provisions, including new corporate tax rates, expanded §179 expensing, denial of certain entertainment expense, and business credits.
Recognize TCJA changes to: insurance taxation, tax treatment of excess of compensation, deferred foreign income provisions, and exempt organization and international taxation.

Course Material: Online Material

Program level: Overview

Prerequisites: General understanding of federal income taxation.

Advance preparation: None

Type of delivery method: QAS Self-study

Recommended CPE credits: 4.0

Final examination expiration date: The program participant will have one year from the date of purchase to complete the course and final examination.