Webinar: Form 1040 Return Review Boot Camp for New and Experienced Reviewers
WS129 | Course | Intermediate | Scheduled
Description
Most review techniques developed by professionals are self-taught and fine-tuned via experience. Yet how does one start? The purpose of this course is
Credits
| Number of Credits | Type of Credits |
|---|---|
| 8.00 | Taxes |
Designed For
Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures
Prerequisites
Experience in preparing Form 1040, reviewing diagnostics, and preparing workpapers
Highlights
- Review an error-prone "staff-prepared" Form 1040 from client-provided information. Where do you start? Get to know your client and ask the questions
- Several new reporting issues for the reviewer to consider, including the main credit provisions as enacted under the American Rescue Plan
- What are common errors preparers make and what are the areas generating malpractice claims?
- The importance of engagement letters, questionnaires, and §7216 permission statement
- Initial administrative groundwork
- Identifying organizing issues in the tax return to be reviewed
- Avoiding “willful blindness.” Handling ethical and moral dilemmas
- Efficient review of certain advanced issues for income, adjustments, deductions, and credits
- Effective procedures for delinquent clients, filing past-due tax returns
- First-time client issues requiring extra scrutiny
- Multiple checklists of efficient procedures to identify potential issues on a 1040 return
- Listing of schedules for staff to prepare to make a review easier, including basis issues for 1040 clients
- Reconciling time pressure with thoroughness and quality control
- Professionals acting professionally
Objectives
- Expand the process involved in reviewing applicable tax returns
- Identify the most common areas that result in errors
- Document a review, including consideration of risk management
Preparation
None
Notes
This webinar is provided by Surgent. After registering for the course, you will receive an email from Surgent with instructions for logging in to the webinar and obtaining your eMaterials.
You may confirm that your computer meets the minimum requirements by visiting: https://www.surgentcpe.com/webinartest/.
Prices
- Member (Early Bird)
- $279.00
- Non-Member (Early Bird)
- $279.00
- Member
- $279.00
- Non-Member
- $279.00