Tax Cuts and Jobs Act (TCJA) Training Materials

The IRS continues to implement the Tax Cuts and Jobs Act (TCJA). This major tax legislation affects individuals, businesses, and tax exempt government entities.

To help give tax professionals a better understanding of how the IRS is implementing the law, we are providing internal training materials categorized by audiences - small businesses, large businesses and international and tax-exempt entities. Each course has a brief description and links directly to the self-study materials.

Small Businesses TCJA Training Materials

Even if you are a small business, you may want to check out the training courses for large businesses or tax exempt entities, some of the provisions in the lessons may apply to you.

On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. This legislation contained 119 provisions of which 28 which were assigned to SBSE Examination. This self-study module contains information on 17 provisions to assist you with gaining an understating of the tax law changes implemented and identifying potential issues.

  • IRC Section 529A(b)(7)(A) - Increased Contributions to ABLE Accounts (Provision 11024)
  • IRC Section 529A(b)(7)(A) - Rollovers to ABLE programs from 529 programs (Provision 11025)
  • IRC Section IRC 132(f)(5)(F) - Suspension of Exclusion for Qualified Bicycle Commuting Reimbursement (Provision 11047)
  • IRC Section 132(g) - Suspension of Exclusion for Qualified Moving Expense Reimbursement (Provision 11048)
  • IRC Section 2010(c)(3) - Increase in Estate and Gift Tax Exemption (Provision 11061)
  • IRC Section 55 - Extension of Time Limit for Contesting IRS Levy (Provision 11071)
  • IRC Section 53 - Repeal of Tax for Corporations (Provision 12001)
  • IRC Section 53 - Credit for Prior Year Min Tax Liability of Corp (Provision 12002)
  • IRC Section 1031 - Like-Kind Exchanges of Real Property (Provision 13303)
  • IRC Section 162(q) - Denial of Deduction for Settlements Subject to Nondisclosure Agreements – Sexual Harassment/Abuse (Provision 13307)
  • IRC Section 74(c) - Prohibition on Cash, Gift Cards, and Other Non-Tangible Personal Property as Employee Achievement Awards (Provision 13310)
  • IRC Section 47 - Rehabilitation Credit Limited to Certified Historic Structures IRC Section 47 (Provision 13402)
  • IRC Section 45S - Employer Credit for Paid Family and Medical Leave (Provision 13403)
  • IRC Section 1361- Expansion of Qualifying Beneficiary – Electing Small Business Trust (Provision 13541)
  • IRC Sections 641, 642, and 170 - Charitable Contributions – Electing Small Business Trust (Provision 13542)
  • IRC Sections 481 and 1371- Modification of Treatment of S Corporations Conversion to C Corporations (Provision 13543)
  • IRC Section 646 - Modification of Tax Treatment of Alaska Native Corp and Settlement Trusts (Provision 13821)
  • IRC Section 4261 - Amounts Paid for Aircraft Management Services (Provision 13822)

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  • TCJA, Section 11071 – Extension of Time Limit for Contesting an IRS Levy
  • Revised Time Period to Contest Levy
  • Calculation of a Timely Claim
  • Suit for Wrongful Levy

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  • Explain the Changes to the Net Operating Loss Deduction rules relating to TCJA
  • Identify the Effective Dates
  • Identify the Exceptions to the New Rules
  • Compute a Net Operating Loss DeductionBody Text

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  • Discuss eligibility, overview of the deduction and define terms
  • Explain the computation
  • Discuss aggregation
  • Discuss penalties and other items

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  • Introduction and Prior Law
  • Exclusions and Elections
  • Calculation and Form 8990
  • Allocating Interest Expense
  • Limitation on Business Interest Expense Under IRC Section (163j)Entities

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  • Identify which taxpayers are impacted by this provision
  • Compute the excess business losses
  • Explain the tax impact of the excess business loss

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  • Provide an overview of the Opportunity Zones
  • Define Qualified Opportunity Zones
  • Explain tax benefits available to investors in a Qualified Opportunity Fund
  • Discuss the requirements of becoming a Qualified Opportunity Fund
  • Define Qualified Opportunity Zone Business Property

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  • Section 13101 – IRC Section 179 - Section 179 Deduction (Provision 13101)
  • Section 13201 – IRC Section 168k - Additional First Year Deprecation Deduction – Bonus Depreciation (Provision 13201)
  • Section 13202 – IRC Section 280F (a) and 280F (b) Depreciation – Luxury Auto Limitation (Provision 13202)
  • Section 13203 – IRC Section 168(b)(2) and IRC Section 168(e)(3)(B)(vii) - Modifications of Treatment of Certain Farm Property (Provision 13203)
  • Section 13204 – IRC Section 168(e), IRC Section 168(b) and IRC Section 168(k) - Applicable Recovery Period for Real Property (Provision 13204)
  • Section 13205 – IRC Section 168(g)(1)(G) and IRC Section 163(j)(7) - Use of Alternative Depreciation System for Electing Farming Businesses (Provision 13205)

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Large Business & International  TCJA Training Materials

This self-study module covers large business and international individuals and businesses. You may also find that some of the materials listed under for small businesses or tax-exempt entities may apply to your situation. Also note that both SBSE and LB&I have materials related to IRC Section 163(j) and 199A, as the provisions under these sections are applicable to both organizations.

Tax Exempt Entities TCJA Training Materials

Even if you’re an entity exempt from income tax, some of the lessons for small and large businesses may also apply to you.