The IRS continues to implement the Tax Cuts and Jobs Act (TCJA). This major tax legislation affects individuals, businesses, and tax exempt government entities.
To help give tax professionals a better understanding of how the IRS is implementing the law, the IRS is providing internal training materials categorized by audiences – small businesses, large businesses and international and tax-exempt entities. Each course has a brief description and links directly to the self-study materials.
Small Businesses TCJA Training Materials
Even if you are a small business, you may want to check out the training courses for large businesses or tax exempt entities, some of the provisions in the lessons may apply to you.
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IRC Sections 6343 and 6532 – Extension of Time Limit for Contesting an IRS Levy
Modification of Net Operating Loss Deduction – IRC Section 172
Qualified Business Income Deduction – Provision 11011 – IRC Section 199A
Limitation on Business Interest Expense Under IRC Section (163j)
Limitation on Losses for Taxpayers other than Corporations Provisions 11012 – IRC Section 461(l)
Opportunity Zones and Qualified Opportunity Funds IRC Section 1400Z-1 and IRC Section 1400Z-2
Depreciation Provisions 13101, 13201, 13202, 13203, 13204, 13205
Large Business & International TCJA Training Materials
This self-study module covers large business and international individuals and businesses. You may also find that some of the materials listed under for small businesses or tax-exempt entities may apply to your situation. Also note that both SBSE and LB&I have materials related to IRC Section 163(j) and 199A, as the provisions under these sections are applicable to both organizations.
Comprehensive LB&I Tax Cuts & Jobs Act Agent Training
Overview of Various International Provisions of TCJA
2018 Continuing Professional Education for Agents
Tax Exempt Entities TCJA Training Materials
Even if you’re an entity exempt from income tax, some of the lessons for small and large businesses may also apply to you.
Tax Exempt Entities
See overview page by clicking IRS Posts Tax Cuts and Jobs Act (TCJA) Training Materials for Professions.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..