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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