In these uncertain economic times, many taxpayers have lost their jobs or have taken a substantial cut in pay and benefits. The unstable housing market has lead to reduced property values, leaving many upside down on mortgages or facing foreclosure. Not all are aware that there are tax consequences from foreclosure, short sales and cancelled debt. Preparers need to be aware of this implications and know how to best serve their clients to lessen the tax burden.
Insolvency and Bankruptcy
The Tax University CE course on Insolvency and Bankruptcy includes the following learning objectives:
- Define Insolvency
- Understand Cancelled Debt
- Become familiar with Bankruptcy
- Figuring Assets and Liabilities
- Understand Recourse and Non-recourse Debt
- Become familiar with Form 982 and other 1040 issues
Publication Date: Sept 2018
IRS Course #: A360U-T-00094-18-S
Program Level: Intermediate
Prerequisites/Advanced Preparation: The student should be familiar with Form 1040.
Delivery Method: QAS Self-Study
License Term: 180 days
CPE/CE Credits: IRS 2 CE Federal Tax. One 50- minute period equals one CPE/CE Credit Hour.
Field of Study: Tax
Passing Grade: Participants who answer a minimum of 70% correct on the final exam will receive a Certificate of Completion.
Record Retention: As an IRS-approved provider of continuing education The Tax University will report successful completion of this course to the IRS. You can access and view all completed continuing education credits through your online PTIN account.
Complaint Resolution Policy: Please contact our customer service department at 1-434-227-4480.
Refund Policy: 30-day money back guarantee. For refund assistance, please contact our customer service department at 1-434-227-4480.
The Tax University Offers Substantial Discounts When You Purchase Multiple Courses! All Discounts Appear At The Bottom Of The Order Page When More Than One Course Is Selected.
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