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22WS-1177: Surgent's Form 1040 Return Review Boot Camp for New and Experienced Reviewers (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Thursday, December 8, 2022
Time 9:00am - 5:00pm
Central Time
Location Online
CPE credits CPE 8.0
Field(s)
of study
Taxes - Technical (8.0)
Specialty
credits
8.0 IRS CE approved
Fees
Standard Member Fee $279.00
Standard Nonmember Fee $279.00

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 to give both new and seasoned reviewers additional and advanced procedures via a multitude of checklists to thoroughly review various tax returns. Its emphasis is not planning; rather, it is to develop a strategy to properly review a return effectively and thoroughly. The course includes dozens of practice tips for new reviewers and is updated for impacts of newly enacted legislation.

Who should take this program?

Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures

Major subjects

  • Timely coverage of breaking tax legislation
  • Review an error-prone "staff-prepared" Form 1040 from client-provided information.Were do you start? Get to know your client and ask the questions
  • What are common errors preparers make and what are the areas generating malpractice claims?
  • The importance of engagement letters, questionnaires, and Section 7216 permission statement
  • Initial administrative groundwork
  • Identifying organizing issues in the tax return to be reviewed
  • Avoiding "willful blindness"
  • 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

Learning objective(s)

  • 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

Notes:

Course code Code 22WS-1177
Sponsor Surgent
NASBA ID#: 103212
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Experience in preparing Form 1040, reviewing diagnostics, and preparing workpapers
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.