PACE NONCREDIT COURSE:
Chartered Tax Professional
Areas of Study
Course Type
Overview
Hours: 180 | CEUs: 18 | Duration: 18 months
Overview
A Chartered Tax Professional (CTP) is someone who has completed a specific series of tax courses in individual and small business income tax preparation. This nationally recognized innovative online certificate course enables you to start working and earning money while completing coursework toward the CTP professional credential.
After successfully completing this course, you will be qualified to prepare individual tax returns for almost all U.S. taxpayers and will also have the tax knowledge to successfully pass the Special Enrollment Examination (SEE). The Special Enrollment Examination (SEE) is a test that individuals can take to become an Enrolled Agent in the United States. The Enrolled Agent credential is issued and regulated by the Internal Revenue Service (IRS).
Attention California Residents!
If you live in California and plan to become a preparer of Federal and/or state income tax returns, you must meet the requirements of the California Tax Education Council (CTEC) to become licensed to practice as a California Tax Preparer. In that case, you should instead take the Chartered Tax Professional for California Residents course, which will enable you to meet the CTEC requirements while also earning your professional CTP designation.
Attention Oregon Residents!
This course is not suitable for Oregon residents
Key Concepts
What you will learn
- Master preparing taxes for individuals, small businesses, partnerships, and sole proprietorships
- Prepare for the IRS Enrolled Agent exam
- Learn how to conduct a professional tax preparation client interview
- Practice and work as a qualified tax professional
- Learn how to prepare tax returns for all individual U.S. taxpayers
- Understand the ethical responsibilities of tax professionals
How you will benefit
- Start working and earning money after completing the first two modules of the course
- Develop a professional vocabulary and the communication skills required to flourish in the accounting world
- Become qualified to prepare taxes for a variety of tax-holders and small companies
- Possess the necessary knowledge and skillset required to pass the IRS Enrolled Agent exam
Curriculum
Syllabus
- Individual Income Tax Preparation
- Comprehensive Income Tax Course
- Electronic Filing
- W-2 and 1099 Forms
- Form 1040 (1040 EZ/A)
- Interview Techniques
- Filing Requirements
- Filing Status
- Exemptions and Dependents
- Earned Income Tax Credit
- Due Diligence
- Child Care and Tax Credit
- Interest and Dividends
- Other Income
- Adjustments to Income
- Moving Expenses
- Itemized Deductions
- Employee Business Expenses
- Sale of Real Estate
- Depreciation: MACRS and ACRS
- Self-employment
- Filing Requirements
- Rental Property
- Capital Gains and Losses
- Education Expenses and Plans
- Education Tax Benefits
- IRAs and Retirements Plans
- Ethics
- Kiddie Tax
- Taxpayer Relief Act of 1977
- Tax Saving Ideas
- Alternative Minimum Tax
- Office-in-Home
- Injured and Innocent Spouse
- Penalties
- Extension
- Amended Returns
- Advanced Income Tax Course: Level I
- Earned Income Credit
- Clergy
- Investments
- At-risk Rules
- Passive Activities
- Injured and Innocent Spouse
- Tax Credits, Special Credits
- COGS, Business Start-up
- Depreciation
- Amortization
- Section 179
- Employee Business Expense
- Office in Home
- Auto Expenses
- Self-employment Tax
- Statutory Employees
- Capital Gains and Losses
- Basis of Property
- Sale of Stock
- Installment Sales
- Rental Properties
- K-1s and 1099s
- Sale of Business Property
- Estimated Taxes
- Extensions
- Advanced Income Tax Course: Level II
- Amended Tax Returns for Individuals
- Special Needs and Concerns of Seniors
- Tax Issues for High-income Taxpayers
- Net Operating Losses
- Schedule D: Special Issues
- Tax Issues for Divorced Taxpayers
- Tax Planning Tips and Strategies
- Responding to the IRS
- Part-year Resident State Tax Preparation Principles
- Nonresident Alien Returns: Form 1040NR
- Comprehensive Income Tax Course
- Small Business Income Tax Preparation
- Small Business Income Tax Course: Level I
- Introduction to Small Business Tax Preparation
- Business Types
- Accounting Methods
- Financial Statements
- Business Income
- Schedule C
- COGSand Inventory
- Depreciation
- Section 179 Deduction
- Contractor vs. Employee
- Sale of Business Property
- Partnerships
- Corporations: C, S, LLC
- Employee Taxes
- Excise Taxes
- Estate Taxes
- Extensions
- Estimates
- Employee Benefits
- Retirement Plans
- Small Business Income Tax Course: Level II
- Understanding the Balance Sheet
- Partnership Issues
- Corporation Issues
- General Business Credits
- Tax Issues Related to Buying a Business
- Sale or Liquidation of Business
- Profit or Loss From Farming: Schedule F
- Amended or Corrected Business Returns
- What to Do When You Owe the IRS?
- Tax Preparation for Non-profits: 501(c)(3), 501(c)(4), 501(c)(6), etc.
- Small Business Income Tax Course: Level I
Frequently Asked Questions
FAQs
Can I register for a course if I am an international student?
Yes, ed2go courses are completely online. However, keep in mind that not all certifying bodies or industry-specific certifications are recognized internationally. Please review your country’s regulations prior to enrolling in courses that prepare for certification.
Once I complete the course, how will I receive my certificate?
Once you’ve successfully completed each course (and your final exam has been graded), you’ll need to fill out the Request for Certificate of Completion. Your instructor will then provide you with a certificate of completion by mail. Your CTP certificate will be issued after you’ve completed all courses with an average grade of 80% or more and have documented the 500 hours experience needed to qualify for the CTP designation.
When can I start the course?
This course is open enrollment, so you can register and start the course as soon as you are ready. Access to your course can take 24-48 business hours.
How long does it take to complete this course?
This course is self-paced and open enrollment, so you can start when you want and finish at your own pace. When you register, you’ll receive eighteen (18) months to complete the course.
What if I don’t have enough time to complete my course within the time frame provided?
The time allotted for course completion has been calculated based on the number of course hours. However, if you are unable to complete the course, contact the student advising team to see what options you may have available to work out a suitable completion date. Please note that an extension fee may be charged.
What kind of support will I receive?
The course instructor will be available by email to answer any questions and provide feedback on your performance. Occasionally, your course may be supported by a team of industry experts. You will also receive support from the student advising team.
What happens when I complete the course?
Upon successful completion of the course, you will be awarded a Certificate of Completion.
Am I guaranteed a job?
This course will provide you with the skills you need to obtain an entry-level position in most cases. Potential students should always do research on the job market in their area before registering.
Can I get financial assistance?
This course is noncredit, so it does not qualify for federal aid, FAFSA and Pell Grant. In some states, vocational rehab or workforce development boards will pay for qualified students to take our courses. Additionally, some students may qualify for financial assistance when they enroll, if they meet certain requirements. Financing is available from select schools. Learn more about financial assistance.
How can I get more information about this course?
If you have questions that are not answered on our website, representatives are available via LIVE chat. You can also call us at 1-877-221-5151 during regular business hours to have your questions promptly answered. If you are visiting us during non-business hours, please send us a question using the “Contact Us” form.
Does this course qualify for Continuing Professional Education (CPE) credit?
Yes. The Income Tax School is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit:
- Comprehensive Tax Course
- 45 CE hours
- Advanced I Tax Course
- 30 CE hours
- Advanced II Tax Course
- 30 CE hours
- Small Business I Tax Course
- 30 CE hours
- Small Business II Tax Course
- 30 CE hours
Total: 165 CE hours
Are you approved by CTEC?
Yes. We have a California version of our CTP course that includes the curriculum approved by the California Tax Education Council (CTEC) for qualifying education required for tax preparers to become licenses to practice in California.
What course should I take to become a tax preparer in California?
The California CTP course is approved by CTEC as a qualifying course for California. There are additional requirements to become a tax preparer in California. Please visit the CTEC website for more information.
How would you compare your school to other tax schools?
The Income Tax School is certified by the State Council of Higher Education for Virginia (SCHEV) as a private career school and is subject to the same standards as Virginia colleges governed by SCHEV. We are also a sponsor of the National Association of State Boards of Accountancy (NASBA) to provide CPE for CPAs. We’re approved by the Office of Professional Responsibility at the Internal Revenue Services as provider of qualifying continuing education for IRS Registration Tax Return Preparers (RTRPs) and Enrolled Agents (EAs). This approval does not extend to licensees of The Income Tax School.
The Income Tax School’s programs were developed initially 19 years ago to recruit and train tax prepares for our multi-office practice in Virginia. Our curriculum is written and updated annually be experienced practicing tax professionals. All of the Income Tax School’s programs are provided online in an interactive format with instructor support by email rather than by traditional home-study correspondence. We provide learning objectives, lesson quizzes with instructional feedback, and auto-graded exams. Although all of the student textbook content is online, we also provide a hard copy of the student text for convenience and future reference at no additional charge. Our programs are high-quality and are designed to provide students with the knowledge necessary to prepare tax returns professionally.
How does the course work?
In this course, you will read material, print out material, work through learning activities, review questions, quizzes and/or tests offline and plug in your answers online for automated grading. You need to complete each item in the order that it appears. You will need to complete each chapter in the order that it appears as well. This is a self-study/self-paced program within your course term.
What is taught in the course?
We teach students how to actually prepare tax returns manually, and we provide expert instructor support by email. Practical application by preparing actual tax returns results in the tax preparation knowledge being internalized and our quizzes and exams also serve to confirm student learning. You learn how to prepare returns without using tax preparation software with our tax courses. By preparing practice tax returns manually instead of having tax software do it for you, you will learn the tax laws and be prepared to correctly prepare tax returns. The tax returns that you are preparing are based on real-life scenarios. That enables you to internalize the knowledge and gives you a solid foundation you can continue to build on. We follow up with quizzes and an exam to make sure that the knowledge is really sinking in. You can download the quizzes and exam beforehand and prepare them of and input your answers online at your own pace when you are confident with your answers.
We teach tax preparation—not tax preparation to one particular software. This way, you can learn the art of tax preparation and apply it critically to different types of software. Remember: Software is only really as good as the operator who is using—if you don’t have the knowledge, you won’t know if you are asking the right questions.
Moodle & Zoom
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Course Requirements
Requirements: Hardware Requirements: Software Requirements: Other: Instructional Material Requirements: The instructional materials required for this course are included in enrollment. The following materials will be shipped to you approximately 7-10 business days after enrollment: Prerequisites: A high school diploma or equivalent is a prerequisite for this course. Accounting and specific math skills aren’t required, just the aptitude to work with numbers and people and to read and interpret the tax laws. If you are taking this course to begin a career in taxation you will need to meet the following requirements:
Course Prerequisites
Instructor(s):
Instructor support is provided through email by experienced practicing tax professionals employed by Peoples Income Tax, Inc., a sister company of The Income Tax School.
