Surgent's Form 1040 Return Review Boot Camp for New and Experienced Reviewers (Webinar)

Code: WSERTW08

Date Monday, February 3, 2020
Time 8:00 AM - 4:00 PM
Central Time
Location Online
CPE credits CPE 8.0
Specialty
credits
8.0 IRS CE approved
Field(s)
of study
Taxes - Technical (8.0)
Instructor Dennis Benvie, MS, CPA
Surgent
Fees
Standard member fee $239.00
checkmarkStandard nonmember fee $239.00

Members: Please log in to receive member fee.

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 more 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

  • Review an error-prone "staff-prepared" Form 1040 from client-provided information
  • What are common errors preparers make and what are the areas generating malpractice claims?
  • 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
  • Problem clients: unsubstantiated deductions?
  • Multiple checklists of efficient procedures to identify potential issues on a 1040 return
  • The importance of engagement letters, questionnaires, and Section 7216 permission statements
  • Listing of schedules for staff to prepare to make a review easier, including basis issues for 1040 clients

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 WSERTW08
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