COURSE DESCRIPTION:
This interactive self-study course covers significant provisions of the 2008 and spring 2009 tax acts, including the American Recovery and Reinvestment Act of 2009.  

PUBLICATION/REVISION DATE:
May 2009  

PREREQUISITE/ADVANCE PREPARATION:
Basic knowledge of taxation  

CPE CREDIT:
4 QAS Hours, 4 Registry Hours
2Federal CTEC Hours, 0 California Hours

Check with the state board of accountancy in the state in which you are licensed to determine if they participate in the QAS program and allow QAS CPE credit hours.

This course is based on one CPE credit for each 50 minutes of study time in accordance with standards issued by NASBA. Note that some states require 100-minute contact hours for self study. You may also visit the NASBA website at www.nasba.org for a listing of states that accept QAS hours.  

Enrolled Agents:
This CPE course is designed to enhance professional knowledge for Enrolled Agents. Gear Up is a qualified CPE Sponsor for Enrolled Agents as required by Circular 230 Section 10.6(g)(2)(ii).  

CFP® CREDIT:
2 CE Hours – CFP® Credit hours are one half the number of CPE credit hours  

FIELD OF STUDY:
Taxes  

EXPIRATION DATE:
Postmark by September 30, 2010  

KNOWLEDGE LEVEL:
Basic  

LEARNING OBJECTIVES  

Lesson 1: Heroes Earnings Assistance and Relief Tax Act of 2008
Completion of this lesson will enable you to:

• Summarize the changes made by the Heroes Earnings Assistance and Relief Tax Act of 2008.

• Identify taxpayers eligible to claim the first-time homebuyer credit and determine the amount of the credit.
• Assess how other provisions of the Housing Assistance Tax Act may affect tax clients.

• Summarize the requirements made by the Adoption Act of 2008.

• Summarize the requirements for home mortgage debt forgiveness, the limitations on deductions for executive compensation, and taxation rules of golden parachutes.

• Identify changes to disaster relief provisions resulting from the Heartland Disaster Tax Relief Act of 2008.

• Identify the changes to the energy credits from the Energy Improvement and Extension Act of 2008.
  

• Describe the adjustments made to numerous tax laws by the adoption of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008.

• Identify changes to the required minimum distributions (RMDs) and designated Roth accounts affected by the Worker, Retiree, and Employer Recovery Act of 2008.

• Identify the new tax law provisions affecting individuals including the Making Work Pay credit, First-time Homebuyer credit, the modified Hope credit and the 529 plans.
• Summarize the modifications made to the child tax credit, and calculate the earned income credit (EIC) percentages and phase-out ranges.
• Identify the changes in the AMT provisions.
• Calculate the new COBRA subsidy and identify the changes to the health coverage tax credit (HCTC).