Demystifying the Child Tax Credit and Earned Income Credit

From: $119.00

Date: February 4 , 2025  

Time: 1pmET | 12pm CT | 11am MT | 10am PT

Duration: 120 minutes

Description:

Unlock the intricacies of the Child Tax Credit and Earned Income Credit (EIC) with our comprehensive webinar, “Child Tax Credit and Earned Income Credit.” As tax season brings a surge in inquiries, tax professionals must confidently navigate the complex rules governing these credits. This course provides an in-depth look at the 15 qualifying criteria for the Earned Income Credit, using real-world case studies to help tax preparers tackle a wide range of client situations. Participants will also gain valuable insights into the limitations of the EIC, considering factors like filing status, adjusted gross income (AGI), and the number of dependents.

The course also delves into the qualifications for dependents, covering essential topics such as qualifying children, qualifying relatives, special rules, and income limits. Participants will learn to identify income types that count toward these limitations, empowering them to give accurate, reliable guidance to clients. The Child Tax Credit and other dependent credits are explored through practical case studies, ensuring participants can apply these credits in diverse scenarios. Form 8867, a vital part of tax preparer compliance and documentation, will be thoroughly covered to ensure due diligence is maintained.

Major Topics:

  • Earned Income Credit (EIC) Qualifying Rules
  • EIC Limitations Based on AGI, Filing Status, and Dependents
  • Form 8867: Tax Preparer Compliance and Due Diligence
  • Choosing the Correct Filing Status to Maximize EIC
  • Claiming Qualifying Children and Qualifying Relatives
  • Tax Benefits for Different Types of Dependents

Learning Objectives:

  • Gain confidence in applying the 15 qualifying rules for the Earned Income Credit (EIC).
  • Understand and communicate EIC limitations based on AGI, filing status, and the number of dependents.
  • Accurately complete Form 8867 to ensure proper tax preparer due diligence.
  • Evaluate and select the appropriate filing status to maximize the EIC for clients.
  • Apply the five rules for claiming a qualifying child and the four rules for claiming a qualifying relative.
  • Analyze the tax benefits associated with each type of dependent to optimize client tax outcomes.

Join Jason Dinesen for this transformative learning experience and elevate your tax preparation skills to effectively navigate the complexities of Earned Income and Child Tax Credits. Enroll today to become a proficient tax professional, ready to provide invaluable insights and guidance to your clients.

Credits and Other information:

  • Recommended CPE credit – 2.0
  • Recommended field of study – Taxes
  • Session Prerequisites and preparation: None
  • Session learning level: Basic
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • Attendance Requirement:  Yes
  • Session Duration: 120 minutes

Who Will Benefit:

  • CPA
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners

About Our Speaker

Jason Dinesen , President, Dinesen Tax & Accounting, P.C.
Jason Dinesen is a seasoned tax professional, educator, and entrepreneur with a passion for simplifying complex tax concepts. He is a go-to expert in accounting, bookkeeping, tax preparation, business advisory and interpretations of tax laws and regulations.