This intermediate course examines how credits are divided into refundable and nonrefundable. Nonrefundable credits cannot be used to offset the recapture of any other credit or to offset taxes other than income tax. The credits must be computed in order of priority to ensure that limitations are properly applied. A refundable tax credit is treated as a payment and can be refunded to the taxpayer by the IRS. Refundable tax credits are used to offset certain taxes that normally are not reduced.
At the end of this course, the student will be able to do the following:
Explain how a nonrefundable credit affects the taxpayer’s tax liability.
Name the refundable credits.
Understand the Earned Income Credit (EIC) qualifications.
Understand who qualifies for the additional child tax credit.
Know the rules for the refundable portion of the American opportunity credit.
Recognize when a dependent qualifies for the Other Dependent Credit (ODC).
Field of Study: Federal Tax Law 3 Hours Course Level: Intermediate Prerequisite: General tax preparation knowledge is required Delivery Method: Self-Study
Learn at your own pace, read or watch the lessons, pass the exams.
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Over 35+ years tax preparation experience
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This course is self study which means you take it at your own pace! Some courses do have deadlines, make sure to read the descriptions to know of any deadlines.
If you want to change your English course to a bilingual course or vice versa, you need to contact us and we’ll make the switch. *please note, if you decide to switch language you will lose your progress.
Students have the right to request a full refund of their purchase excluding taxes and shipping (if applicable) within seven (7) days of the purchase date if unsatisfied with the online course material. A request made after seven (7) days but no more than 30 days with 0% coursework completed will result in a store credit. If a textbook was purchased with the internet-based course, a refund will only be issued after the original textbook(s) have been received in a re-sellable condition. If the textbook is not shipped back only partial credit will be refunded. Any other requests outside of this policy will be denied. The request must be made in writing and sent to firstname.lastname@example.org.
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Yes, we are IRS, CTEC, and NASBA approved continuing education providers.
Looking for a new career? We recommend you start with our Tax Preparation course or the CTEC 60 hour course if you are from California.
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