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REG Section Blueprint (effective July 1, 2019) CPA Exam Study Materials - aicpa
Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Federal Taxation of Entities | 23-33% | - Tax-exempt organizations - Partnerships and LLCs - C corporations and S corporations - Book-tax differences - Gift, estate, and trust taxation |
| Topic 2: Business Law | 15-25% | - Business structure legal characteristics - Agency relationships and authority - Uniform Commercial Code (UCC) articles - Contract formation and performance - Employment and federal business regulations - Debtor-creditor relationships and bankruptcy |
| Topic 3: Ethics, Professional Responsibilities, and Federal Tax Procedures | 10-20% | - Tax preparer penalties and due diligence - Treasury Department Circular 230 - Federal tax audit and appeal procedures - Ethics and responsibilities in tax practice - Privileged communications and disclosure rules |
| Topic 4: Federal Taxation of Individuals | 22-32% | - Filing status and dependency rules - Loss limitations and carryovers - Adjustments, deductions, and exemptions - Gross income inclusions and exclusions - Tax credits and alternative minimum tax |
| Topic 5: Federal Taxation of Property Transactions | 12-22% | - Recognition of gains and losses - Cost recovery: depreciation, amortization, depletion - Capital vs ordinary asset classification - Asset basis and holding periods - Like-kind exchanges and involuntary conversions |
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