This course gives you a working foundation in United States federal income tax preparation for tax year 2025 (returns generally filed by April 15, 2026). Rather than memorizing rules, you will learn to view the tax code through three connected lenses: the income tax formula (the conceptual skeleton), the Form 1040 and its schedules (sourced from the official IRS Form 1040 instructions for 2025), and tax software (demonstrated in Lacerte, though the methodology applies to any preparation software). Moving fluently between these three views is how working preparers actually think.
You will start with a study strategy for tackling a tax code that is both massive and constantly changing, then survey the tools of the trade—paid software, free IRS resources, and Excel. From there, you will work through the conceptual core: tax types and categories, the difference between marginal and average tax rates, and the full income tax formula from gross income through refund or balance due, mapped directly onto Form 1040.
The next block covers the rules of the road—the hierarchy of tax law and authority and Circular 230 governing practice before the IRS—followed by the Affordable Care Act and Premium Tax Credit, what is new for 2025, filing requirements, and the when, where, and how of filing, including extensions and the difference between filing and payment penalties. The course closes with a hands-on, two-part build of an interactive income tax formula worksheet in Excel that mirrors Form 1040 and acts as a transparent double-check on your software data input.
Taught in a clear, conversational style with frequent worked examples, the course suits tax professionals refreshing on 2025 changes, accounting and CPA-track students, bookkeepers expanding into tax work, and engaged taxpayers who want to truly understand their own returns.
Strategy for learning tax law and keeping current as the code changes
The three-lens framework: tax formula, forms, and software
Paid tax software options and free tax tools
Tax types and categories, and the political terminology around them
Marginal vs. average tax rates, with worked software examples
The full income tax formula, walked through in tax software
The hierarchy of tax law and tax authority
Circular 230—regulations governing practice before the IRS
Affordable Care Act and the Premium Tax Credit for tax year 2025
What is new for tax year 2025
Filing requirements—who has to file and why
When, where, and how to file, including extensions and penalties
Building an interactive Excel tax formula worksheet (Parts 1 and 2)
This course includes:
