Transcript Slide 1

WHAT'S NEW IN 2011
Highlights
 Certification Process – Link &
Learn
 Ordering Training Products
 New and Extended Tax Provisions
 Other Items – 2011 and beyond
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TRAINING & CERTIFICATION
 Counselors – six (6) steps
 Noncounselors – four (4) steps
 All must pass IRS Standards of Conduct test
with 80% accuracy
 All must sign Volunteer Standards of Conduct
 All Counselors must pass IRS test at 80%,
Basic, Intermediate & Advanced levels, using
Pub 6744 or IRS Link & Learn test system
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ORDERING TRAINING PACKETS
 Two types of training packets
 Pub 4491 Kit – hard copies of Pubs 4491,
4012, 4491-W and 6744
 Pub 4480 Kit – CD of Pub 4491 with hard
copies of Pubs 4012, 4491-W and 6744
Goal is to reduce printing costs and
encourage more people to use Pub 4480 Kit
and access digital Pub 4491
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TRAINING PACKETS, cont’d
 CAPS has been modified for orders for
standalone product (Form 6744, VITA/TCE Volunteer Test/Retest;
Publication 4012, VITA/TCE Volunteer Resource Guide; and Publication 4961
Standards of Conduct (Ethics))
 Submit request for the standalone products
on Form 2333-X
 Any additional request for products using
Form 2333-X should be on a separate form
 Standalone products will be tracked in CAPS.
 If stock is depleted - electronic versions
should be used.
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TRAINING PACKETS, cont’d
 Link & Learn Training has been redeveloped
 More people use online for tax law training
and learning TaxWise
 IRS - SPEC's ultimate goal is to have all
partners transitioned to e-learning products
and training by 2014
 What can we do to increase e-learning and
make better use of on-line products?
(discussion at end of presentation)
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Link & Learn Training
Enhancements
 Will be repackaged and grouped by topic and accessed
from a lesson "landing" page
 “Training Toolkit” on the landing page for each lesson
 Toolkit includes an icon for media (video, audio, web
casts, pod casts, and any media information that is
available on www.irs.gov concerning the applicable
lesson will be accessible)
 Training Toolkit will include links to Tax Facts,
Assessments, TaxWise Tutorials, Job Aids, and the
Practice Lab
 Teacher e-learning component - new content on
teacher pages lesson plans, power point presentations
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SCH D & FORM 8949
 Schedule D for 2011 – has new reporting
lines using Form 8949NEW
 Form 8949 has codes and three boxes that
need to be completed for each taxpayer
 Box A – Cost basis shown on 1099-B
 Box B – Cost basis not shown on 1099-B
 Box C – No 1099-B received
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SCH D & FORM 8949, cont’d
 For each asset sold, the 1099 will have an
A/B/C designator
 Assets can no longer be entered on
Schedule D
 All assets information goes on Forms 8949
 Page 1 is for short term; Page 2 is for long
term
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SCH D & FORM 8949, cont’d
Tab 2
 In TaxWise, Capital Gain or Loss Transactions
Worksheet (Cap Gain Wkt) will load 8949s and
put assets on appropriate pages
 Long Term/Short Term Capital Gains/Losses
Wkts will no longer be in Forms list
 A/B/C designators will be located on Cap Gain
Wkt under 1099 column
 Column (b) is code for adjustments to gain/loss,
wash sales, exclusion of gain on main home, etc
 Column (g) is the amount of the adjustment
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SCH D & FORM 8949, cont’d
 Column (b) is for gain/loss adjustment codes;
see F1 help and Form 8949 instructions
 Column (g) is for amount of adjustment
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NEW PREPARER USE FORM
 Dedicated to Preparer’s Use Fields
 Prep Use Fields no longer on Main Info
Sheet
 Prep Use Fields increase from 15 to 25
 Standardized to 15-character
alphanumeric
 Enter up to 25 questions in column A
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PREPARER USE FORM, cont’d
 All Preparer Use Field entries will be stored
for reporting purposes (not the question)
 Accessible via the report server
 Taxpayer Reminder Field will be added
 Enter information you need to convey to
preparer for following year
 Will automatically display when return is
started in TY 2012 (January 2013)
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NON-BUSINESS ENERGY
PROPERTY CREDIT
 Combined limits of $500, $200 for windows,
for all tax years after 2005 (Form 5695, Pt I)
 MUST ask about prior year energy credits
 Maximum 2011 for residential energy property
 $50 for advanced main air circulating fan
 $150 for qualified natural gas, propane, or
oil furnace, or hot water boiler
 $300 for energy-efficient building property
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IRS STANDARDS
FOR VITA-TCE
 Standard of Conduct (Ethics) training and
testing for all VITA-TCE volunteers
 All must sign Volunteer Standards of
Conduct Agreement, Form 13615
 Must comply with all Stds of Conduct, incl
ethical handling/preparation of returns
 Must successfully pass Standards of Conduct
(Ethics) Test
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AARP FOUNDATION
STANDARDS PACKAGE
 Volunteer Standards of Professionalism
 Taxpayer Information and Responsibilities
(available at the site)
 Incident Review Protocol
(To be handled by local site leadership)
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IRS CHANGES
FOR VITA-TCE
 Lump-sum social security payments are
included as Basic competency
 Last year, only current year taxability in
scope, but use of numbers from previous
year returns in scope this year
 Only one Form 8879 printed (SPEC no longer
requires copy); client signs prior to e-file
submission but keeps with their records
 No copies of W-2s or 1099s kept at site
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WHAT’S NEW IN 2011
QUESTIONS?
COMMENTS?
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