Overview and Key Essentials: Form 1040 Individual Tax Return

  • Accountant
  • AFSP
  • CRTP
  • CGFM
  • CPA (US)
  • EA
  • ORTP
  • ChFC
  • MRTP
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CWS

Published: December, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description


  • Forms and Filing Requirements
    6 mins
  • Considerations for MFS
    29 mins
  • Wages, Salaries and Tips
    55 mins
  • Income Reported on Forms 1099-R
    108 mins
  • Social Security Benefits
    136 mins
  • Comprehensive 1040 Preparation
    166 mins
  • Sales and Exchanges
    238 mins
  • What is Itemized Deductions
    268 mins
  • Residential Energy Credit
    332 mins

Course Description

Form 1040 is the standard Internal Revenue Service (IRS) form that individual taxpayers use to file their annual income tax returns. 

The form contains sections that require taxpayers to disclose their taxable income for the year to determine whether additional taxes are owed or whether the filer will receive a tax refund.

Tax credits and deductions can change the amount of tax you owe so you pay less. Credits can reduce the amount of tax you owe. Deductions can reduce the amount of your income before you calculate the tax you owe. A taxpayer can claim itemized deductions as an alternative to taking the standard deduction if this option provides greater savings. 

Dividends are income earned by investing in stocks, mutual funds or exchange-traded funds, and they are included in your tax return on Schedule B, Form 1040. Capital gains are the amount an asset increases in value between when it is purchased and when it is sold and they are included in your tax return on Schedule D, Form 1040. The U.S. tax code gives similar treatment to dividends and short-term capital gains, and qualified dividends and long-term capital gains, respectively. IRS Schedule B is a tax schedule that helps American taxpayers compute income tax due on interest and dividends earned. IRS Schedule D is a tax schedule that helps taxpayers compute income tax due on capital gains.

Why file Form 1099 and Form W-2? It’s the law – and the IRS is increasing enforcement in this area. Who must issue 1099? Any business – regardless of its structure (sole proprietor, corporation, etc.) that makes "reportable transactions" during the year is requires to issue 1099 to the recipient of income and to the IRS. In this CE webinar, we will review the current law and regulations regarding the filing of Forms W-2 and 1099 and the speaker will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny. The requirements are always changing, and answers are seldom clear-cut. This CPE webinar will de-mystify some of the tricky areas relating to Form 1099 and Form W-2.

Major topics covered in this Online Taxes CE Webinar:

  • Form 1040 US Individual Tax return
  • Types of Form 1040
  • What constitutes a reportable transaction?
  • What are the best practices for handling our information reporting obligations?
  • How can we minimize the risk of improper exemption claims by our payees and vendors?
  • Major Credits for Individuals
    • Family and dependent credits
    • Income and savings credits
    • Homeowner credits
    • Health care credits
    • Education credits
  • Major deductions for individuals
    • Work-related deductions
    • Itemized deductions
    • Education deductions
    • Health care deductions
    • Investment-related deductions

Learning Objectives

  • To describe the overview of the return
  • To determine the filing status
  • To discuss the due dates
  • To identify the rules requiring W-2 documentation and 1099 reporting for various types of forms.
  • To recognize the rules and keep your company in compliance.
  • To identify that your records are correct and will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit.
  • To determine tax rates on interest and dividends
  • To recognize on what capital gains tax is paid
  • To identify when someone will be exempt from capital gains tax
  • To recall other information that is required to file schedule B and D
  • To explore which schedule is used for claiming deductions
  • To determine in which schedule tax credits are reported

Recommended For

  • This IRS-approved CE webinar is recommended for CPA, EA, AFSP, and Other Tax Professionals in public practice, who advise, research, or otherwise is engaged in review or filing of individual tax returns.
  • CPAs, Enrolled Agents, accountants, and financial advisors who work with and advise individuals that have tax implications.  
  • This CPE webinar will prove insightful for CPAs and Tax Professionals who have limited experience with individual tax return and are interested in expanding their knowledge base.
  • Tax practitioners who would like an update on current developments in tax law in a way that is easy to understand and apply.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00723-21-S)
  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0678)
  • 8 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 8 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00723-21-S)
  • 8 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00723-21-S)
  • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 General Credit for Accountant/Bookeeper
  • 8 CPE Credit for Certified Government Financial Manager (CGFM)
  • 8 CPD Credit of Personal Financial Planning for Personal Financial Specialist (PFS)
  • 8 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 8 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 8 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 8 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 8 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)

Additional details

  • Course Level :
  • Credits :
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
  • Advance Preparation :


MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.


MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.


MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.


About Presenter

Megan Angle

Partner, Porte Brown

Megan Angle is a Partner with Porte Brown’s not-for-profit and audit & review services teams in the Elk Grove Village office. She has more than twelve years of experience providing tax consulting, accounting, and audit services for individuals, nonprofit organizations, and closely held businesses. She co-leads Porte Brown’s Not-for-Profit team and is also an integral leader of Porte Brown’s Audit Services team. Since the pandemic hit, Angle has been heavily involved with assisting clients with the ins and outs of the Paycheck Protection Program (PPP) and related COVID-19 business stimulus programs. Megan is the Chair of the Illinois CPA Society’s Not for Profit Committee, Board President for the Tri-Town YMCA and is a board member with her local chamber of commerce among other involvements. Prior to joining Porte Brown, Angle had 4 years of industry experience working for a Not-for-Profit organization while completing her college education. As such, she brings a unique perspective to her work.  Megan lives in the Chicagoland suburbs with her husband and two children.

About Company

Porte Brown


Porte Brown LLC is a full-service accounting and consulting firm headquartered in the Chicago suburb of Elk Grove Village, Illinois. For more than 75 years, Porte Brown has focused on providing the highest level of service to individuals, businesses, and organizations throughout the region. In addition to the traditional accounting services such as tax planning and preparation, audit, business valuations, and retirement plan administration. Porte Brown also provides strategic consulting and leading-edge technology implementation for clients in cloud and non-cloud environments.


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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review


34 Ratings



Very Good








Ana De Abreu
Ana De Abreu, Accountant, AFSP

Jul 27th, 2022

Excellent presentation, well designed in context and format, easy to follow and not boring at all. Excellent presenter who caught my attention all the way.


Arrianne Scott, CPA (US)

Mar 1st, 2022

This instructor was great. It would be nice to have this course updated for the most recent limitations.


Jacquelyn Brennan, EA

Dec 31st, 2021

Excellent presenter providing a very good overview of common tax information.


Camille Soriano, Accountant

Jul 11th, 2022

It is very knowledgeable experience at the same time very direct on the explanation


Jason Lapierre, CPA (US)

Nov 9th, 2021


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