1NTTC Training 2011

WHAT'S NEW IN 2011Highlights

Certification Process – Link & Learn

Ordering Training Products New and Extended Tax Provisions Other Items – 2011 and beyond

2NTTC Training 2011

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

3NTTC Training 2011

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

4NTTC Training 2011

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.

5NTTC Training 2011

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)

6NTTC Training 2011

Link & Learn TrainingEnhancements

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

7NTTC Training 2011

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

8NTTC Training 2011

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

9NTTC Training 2011

SCH D & FORM 8949, cont’dTab 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

10NTTC Training 2011

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

11NTTC Training 2011

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

12NTTC Training 2011

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)

PREPARER USE FORM, cont’d

13NTTC Training 2011

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

14NTTC Training 2011

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

15NTTC Training 2011

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)

16NTTC Training 2011

IRS CHANGESFOR 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

17NTTC Training 2011

WHAT’S NEW IN 2011

QUESTIONS?

COMMENTS?