This course was published on 2/28/2020.

The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, will significantly affect tax planning and the income tax liability for many taxpayers. This course will examine the principal changes affecting individual taxpayers made by the TCJA. 

It examines the provisions of the TCJA with increased potential to affect the taxation of individuals and which are related to changes in:

• Individual and capital gains tax rates;
• Standard deduction and exclusions;
• Income and adjustments to income;
• Itemized deductions in Form 1040 Schedule A;
• Form 1040 Schedule C;
• Tax credits;
• Individual alternative minimum tax (AMT);
• Taxation of unearned income of minor children;
• Qualified tuition plans;
• ABLE accounts;
• Tax treatment of student loan indebtedness discharges;
• Net operating losses; and
• Affordable Care Act individual responsibility requirement.

In addition, it will consider the business-related TCJA provisions affecting individual taxpayers, including the pass-through deduction for qualified trades or business  under IRC §199A. 

The course also carries 3 EA/OTRP CE credits.