TAX-AIDE Introduction to Federal Income Tax Law
TAX-AIDE Tax Law Basics ● All income is taxable, unless the law says it is not ● No deduction is allowed, unless the law says it is ● No credit is allowed, unless the law says it is NTTC Training – TY2015 2
TAX-AIDE Tax Law Basics NTTC Training – TY Income Minus adjustments = Adjusted gross Income Minus deductions and exemptions = Taxable Income
TAX-AIDE Form 1040 ● Identity, filing status and exemptions ● Income ● Adjustments ● Deductions and exemptions ● Tax and nonrefundable credits ● Additional taxes ● Refundable credits NTTC Training – TY2015 4
TAX-AIDE Form 1040 NTTC Training – TY xx
TAX-AIDE Income NTTC Training – TY2015 6
TAX-AIDE Adjustments NTTC Training – TY2015 7
TAX-AIDE Page 2 NTTC Training – TY Nonrefundable
TAX-AIDE Page 2 cont. NTTC Training – TY Refundable
TAX-AIDE Training Materials ● Pub 4491 – Training Guide (Updated for 2015) ● NTTC Workbook – Practice Exercises ● Pub 4012 – Resource Guide ● Form 6674 – Certification Test and Retest ● Pub 17 – Your Federal Income Tax for Individuals NTTC Training – TY
TAX-AIDE The Text Book NTTC Training – TY evergreen
TAX-AIDE Pub 4491 NTTC Training – TY Follows Form 1040 order
TAX-AIDE Pub 4491 (cont) NTTC Training – TY
TAX-AIDE Work- book NTTC Training – TY evergreen
TAX-AIDE New Work- book NTTC Training – TY
TAX-AIDE NTTC Workbook – Practice Exercises ● Contains 15 exercises. ● Includes ACA questions ● Available on OneSupport Help Center. NTTC Training – TY
TAX-AIDE The Golden Book Primary Reference Tool Contains new ACA Tab NTTC Training – TY
TAX-AIDE The Test NTTC Training – TY
TAX-AIDE The Test Includes new Intake/ Interview & QR Test Basic Test not required for AARP Tax-Aide NTTC Training – TY
TAX-AIDE Details Line-by Line NTTC Training – TY
TAX-AIDE Details Line-by Line NTTC Training – TY
TAX-AIDE Introduction to Income Tax Questions… Comments… NTTC Training – TY