Attending a tax training course helps you understand Internal Revenue Service regulations. The IRS is the federal agency within the Treasury Department that enforces fiscal laws. As a trainee, you learn about important in state and county tax laws, as well as deal with a fiscal audit.
Target Audience
Tax education courses attract a varied audience. Tax professionals--such as IRS enrolled agents, certified public accountants and financial planners--find training beneficial. Corporate tax accountants and fiscal attorneys attend training to stay abreast of important regulatory developments. Individuals with no tax background also participate in training to satisfy their intellectual curiosity or test the waters before embarking on a tax-related career.
Academic Requirements
Academic requirements for training courses depend on the target audience and the curriculum. Instructors and training providers generally require that tax professionals hold a college degree. The U.S. Bureau of Labor Statistics reports that a college degree in accounting, tax or finance is the preferred credential. For advanced tax courses, trainers favor attendees who have a master's degree or significant practical experience.
Benefits
After completing a tax seminar, attendees can prepare and file their own returns. Participants also familiarize themselves with specific IRS regulations, including rules about deductions, exemptions and tax credits. Public officials support fiscal courses because they enable taxpayers to conform to regulations, a money saver for the government as it makes tax filing efficient. Companies view tax training favorably because it improves employees' productivity and regulatory compliance.
Tools
During training, instructors share with students tools and equipment necessary for accurate tax filing. These include financial analysis software, tax planning applications, personal budgeting programs and financial spreadsheets. Participants also improve their skills with corporate tools, such as information retrieval or search software; calendar and scheduling applications; and financial accounting, analysis and reporting software, also called FAARS.
Curriculum
Tax training topics run the gamut from filing requirements and exemption rules to income calculation and itemized deductions. Other topics include tax credits, such as Child Tax Credit and Earned Income Tax Credit. Instructors draw students' attention to IRS rules concerning self-employment and deductions, rental income, the fiscal implications of retirement planning, depreciation and directives for amending tax returns. Trainees also polish their expertise in IRS audit procedures and penalties imposed on non-filers.
Skill Set
Preparing and filing tax returns requires specific skills, and instructors spend time working students through the most important. Training seminars emphasize traits such as analytical dexterity, judgment and decision making, effective communication skills and information ordering. To speed up the filing process, tax professionals order data in a systematic way and determine use pieces of information in accordance with the law.
