IMPORTANT: The last five hours of the course, spanning from the second hour of session 7 towards the end of the course, correspond to the practice segment. The practice segment of our basic tax course is designed to offer participants hands-on experience in completing tax returns, mirroring real-world scenarios without the assistance of tax software. This hands-on approach is central to understanding the intricacies involved in tax preparation, enhancing one’s ability to navigate through the complexities of tax laws and regulations with confidence. Participants will engage in completing two straightforward tax returns, employing the traditional method of manual calculation and form completion. This process is intended to deepen the understanding of tax fundamentals, encouraging a meticulous examination of tax forms and the calculation processes involved.

The necessary forms and publications for these exercises are the official IRS tax forms and publications (e.g. Form 1040) accessible in PDF format directly from the IRS’s official website. These forms are designed to allow user input directly on a computer, making it convenient for participants to fill out the forms digitally. All calculations throughout the exercises will be conducted using a regular calculator. This approach is intended to simulate a more traditional tax preparation scenario, focusing on the manual aspect of tax calculation and form completion.

Participants will need to have PDF reader software installed on their computers. This software is essential for opening and interacting with the Form 1040 PDF files. Ensuring compatibility and functionality of the PDF reader with the forms beforehand is recommended to avoid any disruptions during the practice sessions.

Initially, the instructor will demonstrate the completion of the tax returns, line by line, guiding the participants through each step of the process. This demonstration serves as a practical example, showcasing the application of tax laws and the detailed filling out of Form 1040. Although the exercise starts as a demonstration, participants are strongly encouraged to actively engage by completing the forms alongside the instructor. This active participation is critical in solidifying the understanding of tax return preparation.

Participants have two options for following along and completing the tax returns:

a. Participants may choose to use the digital version of the current Form 1040 on their computers. This option requires inputting information directly onto the PDF form using a computer, necessitating a functional PDF reader software.

b. Alternatively, participants may opt to print out the current necessary forms and fill in the information by hand. This option may appeal to those who prefer a physical interaction with the tax forms, offering a different dimension to the learning experience.