[Anonymous]

I took REG in Q2. The gift tax exclusion tested was 14,000. I am retaking Q3, and running through MC in Wiley and noticed that the exclusion on gift tax is at 15,000 now. I am not sure if the Wiley testbank has been updated for test material that isn’t testable until January 2019. As the AICPA has said the new tax reform stuff won’t be tested until January 1, 2019. I don’t want to study the wrong thing. Does anyone know if Wiley has jumped the gun? I wouldn’t be surprised if they have.

[2bigcpa]

Nothing surprises me with Wiley anymore. They made an update where you can check all the answers after you complete the MCQ. They also added a “report content error” button. Check out the link below. The changes in Wiley are supposed to reflect the annual changes in taxes.

[2bigcpa]

I am using the July 2017 REG book even though Wiley has the newer versions available.

[Anonymous]

Thanks 2bigcpa. I asked them about the updates using the content error option. I hate that the material changes so frequently. At one point, when I was studying for AUD Wiley had two versions of the test bank available depending on when you were testing. I wish they had done the same this time with REG.

[Anonymous]

Not to excuse Wiley, but my experience has been that if there's something that changes frequently, the exam will usually compensate by giving the amount in the problem (i.e. “assume that the exclusion is X.”)

I took REG 4 times, and don't recall this ever being an issue.

[2bigcpa]

@ICANANDWILLCPA

You are welcome. It's good we are taking REG in Q3 because it gives us a chance at a retake in Q4 if needed before the major changes.

[Anonymous]

Calvinus unfortunately I can't remember whether they stated numbers on my last attempt, but the practice questions are leaving that silent. 2bigcpa sadly for me this is my second take on REG and if I don't get it I lose credit for a passing score. Trying to get a score extension, but the state board is not responding.

[Anonymous]

To add, Wiley Support team is pissing me off. I am freaking out at this point because I am getting questions wrong and finding out that a different number is being used for calculation. I have been reporting my concerns to them and they are slow at responding and have not responded to any of my questions regarding the testing dates for the newly updated questions.

[2bigcpa]

@ICANANDWILLCPA Today, Wiley just made another update to REG. When I logged in, I was asked to accept them. Now, I am scheduled to finish earlier. I don't know if these will the affect the changes that you were concerned about.

[Anonymous]

I am getting very confused by Wiley's updates and whether the material I am learning is testable now or not. Their support answers to people's questions about this are not very clear. As the OP noted, Wiley is now teaching that the gift tax exclusion is $15,000 but the Ninja audio still says it's $14,000.

I bet this is going to get even worse in Q4 when half of Wiley's users are studying to take it before the end of 2018 and the other half are starting to study for early 2019 and all the tax reform changes.

I do keep accepting the content updates, but I am very nervous that I shouldn't be since I'm testing in Aug.

[2bigcpa]

On the IRS, website the $15,000 gift exclusion (adjusted for inflation) is for 2018. We need to send a message to one of the professors or ask on the Wiley forum because we need to know if the AICPA is using 2017 or 2018 numbers.

https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes

[Anonymous]

Becker uses the $14,000 gift exclusion.

[2bigcpa]

Yikes! That’s not good at all. One of them is using the wrong numbers.

[2bigcpa]

I did some research and Wiley has updated the numbers to account for inflation. Please check out the video in the link. I guess we can assume that the $14,000 gift exclusion is now $15,000 (adjusted for inflation).

[jeff]

I have reached out to the AICPA for clarification

[DoubleBogey]

Kind of a sidenote, but still relevant, Don't reference the Wiley video lectures for things that may have changed. All of the videos that I have heard them reference when they recorded they said they recorded in 2016… Super stupid but what can we do? Agree with above, tired of Wiley's junk but gotten used to it at this point.

[Author]

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