Taxes  |  Format: Flash

Long-Term Contract Tax Rules

Course Overview
This course will enable participants to understand the tax laws governing long-term contracts. Topics include IRC Sections 460 and 263A, construction contracts, gross receipts test, accounting methods, and tax methods with examples included to illustrate the various tax provisions.

Learning Objectives
After completing this course, the course participant should be able to:

  • Recognize the application of the construction contract �general rule�
  • Identify exceptions to the application of the construction contract �general rule�
  • Recognize the available construction contract accounting methods and limitations of each
    Catalog Number: 99NPT09
    CPE Credits: 1 Registry / 1 QAS
    IRS CE: This course also qualifies for IRS registered tax return preparers and enrolled agents CE in the Federal Tax catagory. Program Number: UQNRM-T-00174-17-S
    Author: Edward K. Zollars, CPA
    Advanced Preparation:
    Course Level: Overview
    Field of Study: Taxes
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: Sep 01, 2017 / Oct 31, 2019