The Internal Revenue Service (IRS) is dedicated to ensuring tax professionals are well-equipped to understand and implement the Tax Cuts and Jobs Act (TCJA). This landmark tax legislation has introduced significant changes impacting individuals, businesses, and tax-exempt government entities. To facilitate a deeper understanding and effective application of these complex changes, the IRS provides a range of internal training materials, now accessible to tax professionals.
These Irs Career Training Tools are categorized by audience, focusing on the specific needs of small businesses, large businesses and international entities, as well as tax-exempt organizations. Each training course is designed as a self-study module, complete with a concise description and direct links to the learning materials in PDF format. Whether you are a seasoned tax expert or new to the field, these resources are invaluable for staying ahead of the curve and providing accurate, up-to-date advice to your clients.
Training Resources for Small Business Tax Professionals
Even if your primary focus is small businesses, exploring the training courses designed for larger businesses or tax-exempt entities can be beneficial. Certain provisions within these modules may indeed be relevant to your small business clients, ensuring comprehensive knowledge and service.
SBSE Examination Training Modules
The Tax Cuts and Jobs Act, enacted on December 22, 2017, comprises 119 provisions, with 28 specifically under the purview of Small Business/Self-Employed (SBSE) Examination. This self-study module delves into 17 key provisions, offering critical insights into the implemented tax law changes and potential areas of concern.
The training covers a range of crucial topics, including:
- IRC Section 529A(b)(7)(A): Increased Contributions to ABLE Accounts (Provision 11024)
- IRC Section 529A(b)(7)(A): Rollovers to ABLE programs from 529 programs (Provision 11025)
- IRC Section IRC 132(f)(5)(F): Suspension of Exclusion for Qualified Bicycle Commuting Reimbursement (Provision 11047)
- IRC Section 132(g): Suspension of Exclusion for Qualified Moving Expense Reimbursement (Provision 11048)
- IRC Section 2010(c)(3): Increase in Estate and Gift Tax Exemption (Provision 11061)
- IRC Section 55: Extension of Time Limit for Contesting IRS Levy (Provision 11071)
- IRC Section 53: Repeal of Tax for Corporations (Provision 12001)
- IRC Section 53: Credit for Prior Year Min Tax Liability of Corp (Provision 12002)
- IRC Section 1031: Like-Kind Exchanges of Real Property (Provision 13303)
- IRC Section 162(q): Denial of Deduction for Settlements Subject to Nondisclosure Agreements – Sexual Harassment/Abuse (Provision 13307)
- IRC Section 74(c): Prohibition on Cash, Gift Cards, and Other Non-Tangible Personal Property as Employee Achievement Awards (Provision 13310)
- IRC Section 47: Rehabilitation Credit Limited to Certified Historic Structures IRC Section 47 (Provision 13402)
- IRC Section 45S: Employer Credit for Paid Family and Medical Leave (Provision 13403)
- IRC Section 1361: Expansion of Qualifying Beneficiary – Electing Small Business Trust (Provision 13541)
- IRC Sections 641, 642, and 170: Charitable Contributions – Electing Small Business Trust (Provision 13542)
- IRC Sections 481 and 1371: Modification of Treatment of S Corporations Conversion to C Corporations (Provision 13543)
- IRC Section 646: Modification of Tax Treatment of Alaska Native Corp and Settlement Trusts (Provision 13821)
- IRC Section 4261: Amounts Paid for Aircraft Management Services (Provision 13822)
Start the SBSE Examination Training (PDF)
IRC Sections 6343 and 6532: Understanding IRS Levy Time Limits
This focused module addresses the critical changes introduced by TCJA Section 11071, specifically concerning the Extension of Time Limit for Contesting an IRS Levy. Tax professionals will gain clarity on:
- The revised time period for contesting a levy.
- How to accurately calculate a timely claim.
- Procedures for initiating a suit for wrongful levy.
Access the IRS Levy Time Limit Training (PDF)
Modification of Net Operating Loss Deduction – IRC Section 172
Another essential area covered in the IRS career training tools is the Modification of Net Operating Loss Deduction under IRC Section 172. This module is designed to help tax professionals:
- Explain the changes to Net Operating Loss Deduction rules under TCJA.
- Identify the relevant effective dates.
- Recognize exceptions to the new rules.
- Accurately compute a Net Operating Loss Deduction.
Begin the Net Operating Loss Deduction Training (PDF)
Qualified Business Income Deduction – Provision 11011 – IRC Section 199A
The Qualified Business Income Deduction (QBID) under IRC Section 199A is a significant aspect of TCJA. This training module assists tax professionals in:
- Understanding eligibility, the deduction overview, and key definitions.
- Explaining the computation process.
- Navigating aggregation rules.
- Identifying potential penalties and other critical items.
Start the Qualified Business Income Deduction Training (PDF)
Limitation on Business Interest Expense Under IRC Section (163j)
Understanding the Limitation on Business Interest Expense under IRC Section (163j) is crucial for many businesses. This training module provides insights into:
- An introduction and overview of prior law.
- Exclusions and elections under the new law.
- Calculation methods and Form 8990.
- Procedures for allocating interest expense.
- Specific limitations for different entities.
Access the Business Interest Expense Limitation Training (PDF)
Limitation on Losses for Taxpayers other than Corporations Provisions 11012 – IRC Section 461(l)
This training module on Limitation on Losses for Taxpayers other than Corporations under Provisions 11012 – IRC Section 461(l) is designed to enable tax professionals to:
- Identify taxpayers impacted by this provision.
- Compute excess business losses.
- Explain the tax implications of excess business losses.
Begin the Losses Limitation Training (PDF)
Opportunity Zones and Qualified Opportunity Funds IRC Section 1400Z-1 and IRC Section 1400Z-2
Opportunity Zones and Qualified Opportunity Funds under IRC Sections 1400Z-1 and 1400Z-2 represent new investment incentives introduced by TCJA. This training module provides:
- An overview of Opportunity Zones.
- Definitions of Qualified Opportunity Zones.
- Explanations of tax benefits for investors in Qualified Opportunity Funds.
- Discussion of requirements for becoming a Qualified Opportunity Fund.
- Definitions of Qualified Opportunity Zone Business Property.
Explore Opportunity Zones and Qualified Opportunity Funds Training (PDF)
Depreciation Provisions 13101, 13201, 13202, 13203, 13204, 13205
The TCJA brought about significant changes to Depreciation Provisions. This comprehensive module covers:
- Section 13101 – IRC Section 179: Section 179 Deduction (Provision 13101)
- Section 13201 – IRC Section 168k: Additional First Year Depreciation Deduction – Bonus Depreciation (Provision 13201)
- Section 13202 – IRC Section 280F (a) and 280F (b): Depreciation – Luxury Auto Limitation (Provision 13202)
- Section 13203 – IRC Section 168(b)(2) and IRC Section 168(e)(3)(B)(vii): Modifications of Treatment of Certain Farm Property (Provision 13203)
- Section 13204 – IRC Section 168(e), IRC Section 168(b) and IRC Section 168(k): Applicable Recovery Period for Real Property (Provision 13204)
- Section 13205 – IRC Section 168(g)(1)(G) and IRC Section 163(j)(7): Use of Alternative Depreciation System for Electing Farming Businesses (Provision 13205)
Access the Depreciation Provisions Training (PDF)
Advanced IRS Training for Large Business & International Tax
For professionals working with large businesses and international tax matters, the IRS provides specialized TCJA training materials. It’s also worth noting that some materials listed under small businesses or tax-exempt entities may also be applicable. Both SBSE and Large Business & International (LB&I) have resources related to IRC Sections 163(j) and 199A, as these provisions have broad organizational impact.
Comprehensive LB&I Tax Cuts & Jobs Act Agent Training
This in-depth training is designed for IRS agents and tax professionals dealing with complex large business and international tax scenarios under TCJA.
Overview of Various International Provisions of TCJA
These overview materials serve as a prerequisite to the Comprehensive Training, providing foundational knowledge of the international tax provisions within TCJA.
2019 & 2018 Continuing Professional Education for Agents
Access to Continuing Professional Education (CPE) materials from 2019 and 2018 further enhances the knowledge base for agents and tax professionals working in this sector.
Specialized Training for Tax Exempt Entities
Even for entities exempt from income tax, certain TCJA provisions and related IRS career training tools are relevant. Lessons designed for small and large businesses may also apply to tax-exempt organizations.
Tax Exempt Entities Training Modules
These specific lessons are designed to explain the impact of TCJA on tax-exempt organizations and charities, ensuring these entities remain compliant and informed.
Conclusion
The IRS provides these comprehensive IRS career training tools to empower tax professionals with the knowledge and skills necessary to navigate the complexities of the Tax Cuts and Jobs Act. By utilizing these self-study modules, professionals can enhance their expertise, provide superior service to their clients, and ensure compliance in a rapidly evolving tax landscape. Take advantage of these valuable resources to advance your career and stay at the forefront of tax law.
