What Your Federal Tax Course Should Cover

A federal tax course should provide you with the information necessary to complete your tax returns and understand the process for filing your taxes. Every citizen of the United States is required to provide a completed tax return to the Internal Revenue Service (IRS) by April 15th of the next year. The information provided determines whether you owe taxes or are due a return from the Federal government.

Preparing Tax Returns


Tax planning services offer courses to prepare individuals to complete personal and some small business tax returns. In these courses, information is provided regarding the different types of forms that are used to prepare returns. For individuals this form is the 1040 or 1040-EZ, depending on the complexity of the tax filing.

Deductions and Credits

A course should also cover deductions and credits and how they affect your taxable income. Deductions are reductions to your income that are taken before your tax liability is determined. A credit is a dollar-for-dollar reduction of your taxable income, applied after your tax liability is determined.

Understanding these basics will help you better understand the tax filing process and what you need to know to complete your Federal tax return.