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AFTR 2023 for the Annual Filing Season Program 2024 Federal Tax Updates

Complete this program so that you can represent your clients with IRS issues they may face. This AFTR-AFSP study guide reviews major items required by the IRS to help you update your knowledge of Individual Tax Preparation. The book covers:
1-Inflation adjustment applicable to 2023 tax year Including the inflation adjustment deductions and credits.  Also:
2. Taxability of various income, Foreign Account, Contractors, 1099 and 1099 NEC, Schedule C, Schedule D for Capital Gain (loss) as well as Rental income on Schedule E.
3. Nonrefundable and Refundable Credits including the new increased threshold for Dependent Care Credit
4. Penalties you can avoid
as well as new CTC, Dependent Care Credit

Read requirements for AFSP accreditation in irs.gov

AFSP/AFTR Course Details

Our 3-day AFTR/AFSP course covers crucial topics for tax professionals, equipping you to represent your clients effectively during IRS examinations. The program includes:

• Inflation Adjustment and Tax Year 2023: Learn about inflation adjustments, deductions, and credits applicable to the 2023 tax year.
• Taxation of Various Income: Gain insights into the taxability of different types of income, including foreign accounts, contractor income, 1099 forms, Schedule C, Schedule D for Capital Gain (loss), and rental income on Schedule E.
• Nonrefundable and Refundable Credits: Explore nonrefundable and refundable tax credits, including the new increased threshold for the Dependent Care Credit.

Penalties Avoidance and New Tax Law Changes: Understand how to avoid penalties and stay updated on new tax laws, including the Child Tax Credit and Dependent Care Credit changes.

Why Earn the AFSP Record of Completion?

• Enhanced Representation Rights: PTIN holders need a professional credential or AFSP Record of Completion to represent clients during IRS examinations.
• Public Recognition: Participants with an AFSP Record of Completion will be listed publicly on the IRS website, helping taxpayers find qualified preparers.
• Increased Credibility: Show clients you’re a tax professional up-to-date with the latest tax law changes, setting yourself apart from other preparers.

Comprehensive 20-Hour AFSP Bundle

Our 20-hour AFSP bundle includes everything you need to earn your Record of Completion, available for on-site classes at only $599. The bundle comprises:

• 6 hours of Annual Federal Tax Refresher Course (AFTR)
• 12 hours of Federal Tax Laws
• 2-hour Ethics course

The Importance of the AFTR Program

The AFTR Course recognizes the dedication of non-credentialed return preparers aiming for higher professionalism. 

To meet the requirements, complete 18 hours of continuing education, pass the test and consent to your PTIN screen. Adherence to Circular 230 duties and restrictions is essential to receive an Annual Filing Season Program – Record of Completion from the IRS.

Note: AFTR courses and credits are not intended for Enrolled Agents, and no CE credits are offered for professionals already authorized to represent clients before the IRS.

Test Details and Deadline

The 3-hour uninterrupted AFTR test requires a passing score of 70 points (70 out of 100 questions), with a December 31, 2023 deadline. 

If successful, you will have your PTINs listed on the IRS website, but you must agree to the terms and conditions in the PTIN area to be eligible for the IRS directory. Limited representation rights before select IRS offices for clients whose returns you prepared and signed are available until December 31, 2023.

For more information, please visit irs.gov.

AFSP Requirements for NON-EXEMPT Preparers

Non-exempt preparers must complete 18 hours of continuing education, including:

• 6 hours of IRS Annual Federal Tax Refresher course
• 2 hours of ethics
• 10 hours of Federal Tax Law Topics

Exempt preparers can earn To obtain the AFSP – Record of Completion, you must fulfill the following criteria:

• Complete 15 hours of IRS-approved Continuing Education (CE).
• Agree to adhere to Circular 230 practice requirements.
• Obtain or renew a valid PTIN for the upcoming filing season.

It is essential to emphasize that the 15 hours of CE should meet the IRS-approved needs.

• 3 hours of tax law updates
• 10 hours of federal tax law topics
• 2 hours of ethics

Public Recognition and Limited Representation Rights

AFSP participants will be featured in a public database on the IRS website for return preparers by January 2024. 

This directory includes the names, cities, states, zip codes, and credentials of all qualified professionals with valid PTIN and AFSP – Record of Completion holders. 

Record of Completion holders have limited representation rights, allowing them to represent clients whose returns they prepared and signed before selecting IRS employees.

Receiving Your Record of Completion

You will receive an email from TaxPros@ptin.irs.gov if you have an online PTIN account, with instructions on signing the Circular 230 consent and obtaining your certificate in your secure online mailbox. 

If you possess an online PTIN account, you can anticipate receiving an email with instructions on how to proceed with the application process and acquire your certificate.

Conclusion…

Kian Finance Authority should be your ultimate choice if you are looking for professional development opportunities in the tax and consulting services field.

We offer comprehensive training, including an enrolled agent workshop, in the heart of Florida. 

In addition, our courses cover audit tax and consulting services, ensuring you are well-equipped for success. Whether you’re in Florida or searching for a ‘business consultant near me, our programs are designed to meet your needs. 

Join us today to advance your career in Florida’s dynamic world of finance.