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Author: CCH Editorial Staff
Description:
The four major tax acts passed by Congress thus far in 2008 all include tax incentives to encourge consumer and business spending and investment. These acts are:
- The Economic Stimulus Act of 2008
- The Housing and Economic Recovery Act of 2008
- The Heroes Earning Assistance and Relief Act of 2008
- The Heartland, Habitat, Harvest, and Horticulture Act of 2008
Many of the provisions in these 2008 acts are temporary and will be allowed to expire or will be renewed in future years. This on-again/off-again situation creates many planning challenges for practitioners and their clients. This course explores the more widely applicable tax breaks included in these four acts including the following:
- Economic stimulus payments
- Bonus depreciation
- First-time homebuyer tax credit
- Revised home sale gain exclusion
- Incentives for military personnel and their families
- Tax incentives targeted primarily to farmers
This course also reviews the Mortgage Forgiveness Debt Relief Act of 2007, which includes a limited exclusion for cancelled debt that was previously taxable.
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Course Details:
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Price: $30.00
Field of Study: Taxes
Prerequisites: Basic understanding of existing Federal tax laws
Level: Update
CTEC course number: 1075-CE-5404
Course was last updated on: 11/04/08
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Library:
Learning Center Core
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
2.0 CPE |
| QAS |
2.0 CPE |
| Enrolled Agent (Accepted by the IRS) |
2.0 CPE |
| CTEC Federal |
2.0 CE |
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Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
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