In the fickle world of tax, tax laws and policies, the issue of tax payment has been one that has been leaving more and more citizens frustrated and clueless. It is such that requires the services of a professional. As “insignificant” as it may seem, it might turn out to be a nightmare if it’s not well handled by people who are experts. Handling tax issues can sometimes be quite worrisome, frustrating and confusing for taxpayers, but can be quite exciting with the help of a certified and qualified tax personnel.
The tax refresher course is a certificate course that is designed to benefit the people who are willing to update themselves on personal tax. As the name implies, tax refresher course refreshes candidates on the fundamentals of income and personal tax and ensures that participants are up to date on recent changes and developments. It is designed for non-credentialed tax preparers that are not CPAs, EAs, CFPs, and attorneys. The reason for the exemption is simply because they are believed to have a higher level of tax knowledge than the AFTR would offer. The course is particularly useful for people who do not belong to this category of the aforementioned people but would like to obtain the IRS Annual Filing Season Program (AFSP)- Record of completion.
How to perfectly prepare for Tax Refreshers’ Test
- For participants to perfectly and adequately prepare for the Tax Refresher Test, participants have to bear in mind that this is a knowledge-based tax comprehension test. This requires students to get themselves used to tax-related issues, laws, policies, and changes.
- The tax refresher course is based on general filing season concepts, tax updates, and typical trouble areas identified by the IRS.
- To be a certified and qualified tax refresher holder, candidates have to sit for six continuing education (CE) credit hours, regardless of the delivery method(online, in-person, self study). The course is administered by the CE( continuing education) provider.
- Preparers should visit IRS approved internet and non- internet CE providers that provide the AFTR course. Interested students that wish to leave no stone unturned in their preparations can explore these alternative course providers.
- Another thing that participants of the tax refresher test should take note is the fact that information is key. Applicants need to get themselves informed on tax updates and recent changes in tax laws and policies. It is based on a general filing system concepts, tax updates and typical trouble area identified by the IRS. Tax comprehension test is conducted by the Annual Federal Tax Refresher Federal course yearly. It comprises a 100 computer based multiple choice questions competency test that is mainly conducted to test the participants’ knowledge on tax. It’s a 6 hour long online test meant to test the preparers’ prior knowledge of tax, the structure of income tax, tax rates, and main allowances.
- Lastly, students should note that pass mark is 70% and higher. The AFTR course has to be completed within a frame of six hours or less. Students are hereby advised to be time conscious and make maximum use of the limited time available to them.