Marital Status and the Adoption Credits, Moving Expenses and Gain on Sale of Main Home

In Marital Status, the goal is to identify which acts constitute consideration of marriage, as well as the benefits and consequences of obtaining married status. For the most part, the ability to file married-joint creates the most beneficial situation for taxpayers. In certain circumstances, like the adoption of a spouse’s child, marital status can create adverse effects. In addition, this course identifies how to treat income from the sale of a main home, and how to handle moving expenses following the passage of the Tax Cuts and Jobs Act of 2017 (TCJA).

• Explain marital status
• Understand tax payments, including tax withholding and estimated tax payments
• Understand due dates, including extensions
• Recognize the taxability of income, including wages, salaries, tips, and other earnings
• Explain the exclusion of gain from the sale of a principal residence
• Identify eligible moving expenses and eligible moving deduction
• Identify eligibility for adoption credit, child tax credit, and credit for other dependents
• Understand penalties assessed by the IRS against a tax preparer for negligent or intentional disregard of rules and regulations, and for willful understatement of liability
• Understand the requirements for safeguarding taxpayer information