TurboTax Intuit Academy: Tax Level 1
Certification Guide
Introduction to Tax Preparation
Key Players in Tax Preparation
• The main entities involved in tax preparation include the IRS (Internal Revenue Service),
the taxpayer, and the tax preparer. Each plays a crucial role in the tax filing process.
• The IRS is responsible for tax collection and enforcement of tax laws, while taxpayers are
individuals or entities required to file taxes.
• Tax preparers assist taxpayers in preparing and filing their tax returns, ensuring
compliance with tax laws and maximizing deductions.
• Understanding the roles of these players is essential for effective tax preparation and
compliance.
• E-filing has become increasingly popular due to its convenience and speed compared to
traditional paper filing.
Filing Requirements
• Taxpayers must meet specific filing thresholds based on their age, filing status, and gross
income to determine if they are required to file a tax return.
• For example, single filers under 65 must file if their gross income exceeds $13,850 for
the tax year 2024.
• Married couples filing jointly have a higher threshold, which is $27,700 for 2024, making
it essential to understand these limits for compliance.
• Special considerations apply for dependents and those with unique income situations,
such as self-employment or investment income.
Certification Guide
Introduction to Tax Preparation
Key Players in Tax Preparation
• The main entities involved in tax preparation include the IRS (Internal Revenue Service),
the taxpayer, and the tax preparer. Each plays a crucial role in the tax filing process.
• The IRS is responsible for tax collection and enforcement of tax laws, while taxpayers are
individuals or entities required to file taxes.
• Tax preparers assist taxpayers in preparing and filing their tax returns, ensuring
compliance with tax laws and maximizing deductions.
• Understanding the roles of these players is essential for effective tax preparation and
compliance.
• E-filing has become increasingly popular due to its convenience and speed compared to
traditional paper filing.
Filing Requirements
• Taxpayers must meet specific filing thresholds based on their age, filing status, and gross
income to determine if they are required to file a tax return.
• For example, single filers under 65 must file if their gross income exceeds $13,850 for
the tax year 2024.
• Married couples filing jointly have a higher threshold, which is $27,700 for 2024, making
it essential to understand these limits for compliance.
• Special considerations apply for dependents and those with unique income situations,
such as self-employment or investment income.
