TAX-AIDE Introduction to Federal Income Tax Law TAX-AIDE Tax Law Basics All income is taxable, unless the law says it is not No deduction is allowed, unless the law says it is No credit is allowed, unless the law says it is NTTC Training TY2015 2 TAX-AIDE Tax Law Basics NTTC Training TY Income Minus adjustments = Adjusted gross Income Minus deductions and exemptions = Taxable Income TAX-AIDE Form 1040 Identity, filing status and exemptions Income Adjustments Deductions and exemptions Tax and nonrefundable credits Additional taxes Refundable credits NTTC Training TY2015 4 TAX-AIDE Form 1040 NTTC Training TY xx TAX-AIDE Income NTTC Training TY2015 6 TAX-AIDE Adjustments NTTC Training TY2015 7 TAX-AIDE Page 2 NTTC Training TY Nonrefundable TAX-AIDE Page 2 cont. NTTC Training TY Refundable TAX-AIDE Training Materials Pub 4491 Training Guide (Updated for 2015) NTTC Workbook Practice Exercises Pub 4012 Resource Guide Form 6674 Certification Test and Retest Pub 17 Your Federal Income Tax for Individuals NTTC Training TY TAX-AIDE The Text Book NTTC Training TY evergreen TAX-AIDE Pub 4491 NTTC Training TY Follows Form 1040 order TAX-AIDE Pub 4491 (cont) NTTC Training TY TAX-AIDE Work- book NTTC Training TY evergreen TAX-AIDE New Work- book NTTC Training TY TAX-AIDE NTTC Workbook Practice Exercises Contains 15 exercises. Includes ACA questions Available on OneSupport Help Center. NTTC Training TY TAX-AIDE The Golden Book Primary Reference Tool Contains new ACA Tab NTTC Training TY TAX-AIDE The Test NTTC Training TY TAX-AIDE The Test Includes new Intake/ Interview & QR Test Basic Test not required for AARP Tax-Aide NTTC Training TY TAX-AIDE Details Line-by Line NTTC Training TY TAX-AIDE Details Line-by Line NTTC Training TY TAX-AIDE Introduction to Income Tax Questions Comments NTTC Training TY