US Individual Taxation and Policies
By External Provider
About this course
This course provides a comprehensive overview of United States (US) individual taxation and policies, tailored for beginner learners and career reskillers in finance. Participants will explore key historical events that have shaped US tax policy, including the significance of the 16th Amendment and the evolution of federal income tax rates. The course will also cover the impact of major tax reforms on individual taxpayers, the classification of taxable income, and the calculation of tax liability. Learners will gain insights into deductions, including above-the-line and below-the-line deductions, as well as the role of the IRS in tax administration. The course will address common tax credits, the implications of different business entities, and the process for amending a federal income tax return. By the end of the course, participants will be equipped to prepare and complete a comprehensive individual federal income tax return.
What you will learn
- Understand the foundations of US tax policy.
- Identify taxable income, apply deductions and credits, and calculate individual federal tax liability.
- Prepare and complete a comprehensive US individual federal income tax return, including amendments.