2024 Clemson University Beginner Individual Income Tax Course

* Online sign-in begins at 7:30 am.

This course provides an introduction to the fundamentals of individual income tax. Students will learn about the tax code, tax forms, and tax preparation. Topics covered include gross income, deductions, exemptions, credits, and tax rates. The course will also cover the tax implications of various life events, such as marriage, divorce, and retirement. Comprehensive topics such as Schedule C, Schedule E (rental property) along with passive loss limitations and Form 7203 (shareholder basis) will be introduced. With a theoretical and practical study of Form 1040, and certain accompanying schedules, this course provides critical discussion of tax preparation. Additionally, preparer due diligence requirements, responsibilities and obligations will be covered.

This course is designed for practitioners in their first through fifth years of practice, no advanced preparations are required, and there are no prerequisites.

Upon completion of this course, the learner will be able to:

• Determine Preparer Rules and Responsibilities
• Be familiar with tax specific terminology.
• Establish a taxpayer's filing requirements and status.
• Determine who is eligible to be claimed as a dependent.
• Recognize and report different types of income and adjustments to income.
• Understand legislation passed in response to COVID-19 Pandemic affecting taxpayers.
• Compare Business Income & Hobby Income
• Compare itemized deductions and the standard deduction.
• Describe several nonrefundable and refundable income tax credits.
• Determine documents required for EITC Due Diligence.
• Understand Confidentiality, Privacy, and Disclosure Policies.

Participants will receive via e-mail at the start of the event both the PowerPoint presentation slide set as well as 183-page Document prepared by the instructor.

• For CPA, Enrolled Agents and other Tax Professionals: 8 hours of CPE
• For Attorneys: 6.60 hours of CLE

CPA, EA and other Tax Professionals are based on a 50-minute credit hour while attorneys are based on a 60-minute credit hour. The total time of instruction is 400 minutes.

Mary Jane Hourani, MM, E.A., Tax Accountant

Mary Jane has been practicing since 1993, working for a couple larger Tax, Accounting, & Audit Firms before transitioning to her own practice in 2005.

Mary Jane has a Master of Management from Walsh College of Accountancy and Business Administration as well as Bachelor of Science Degree from Eastern Michigan University in Public Administration and Organizational Development.

Mary Jane has been practicing since 1993 working at a couple larger Tax, Accounting & Audit Firms in the area before transitioning to her own practice in 2005. She is currently an Instructor of Tax for Michigan State University Tax School and a frequent speaker for the Michigan Chapter of the National Association of Tax Professionals as well as a former H&R Block Instructor/Trainer.

Mary Jane is credentialed as an Internal Revenue Service Enrolled Agent, allowing her to practice before the IRS. With this credential, she has direct oversight by the IRS Office of Professional Responsibility.

Mary Jane is a member of the, National Association of Enrolled Agents, Michigan Association of Certified Public Accountants, American Institute of Professional Bookkeepers, National Association of Tax Professionals, and is a Quick Books ProAdvisor.

A Certificate of Attendance will be sent to registered participants via email and via postal mail the day after the presentation to the electronic and physical addresses provided during registration.

Completed credit hours will be reported to the IRS within two weeks of the course completion for all participants providing their PTIN number during registration. Please be sure to include your name as it is listed with the IRS and that your PTIN number is valid for the current year.

IRS Program Code for this course: 3XKET-T-00050-24-O (Online).

Observation: This Workshop has been approved by the IRS for 8 credit hours of CPE (8 x 50-minute blocks).

Completed credit hours will be reported to the Commission on CLE and Specialization of The Supreme Court of South Carolina within one week of the course completion for all participants providing their bar number during registration.

Instructions and program details available at:

https://www.clemson.edu/extension/taxschool/i-i-tax-course.html#coursedescription

Host or Publisher Clemson University Tax School