Surgent's Efficient and Effective Form 1040 Review: The Next Step for Valuable Staff (ERTW)

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.

Highlights:

  • 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
  • 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”
  • 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

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

Prerequisites:

Experience in preparing Form 1040, reviewing diagnostics, and preparing workpapers

Category:

TX

Credits:

8

Course Level:

Intermediate

Members

Standard Fee: $239.00

Non-Members

Standard Fee: $295.00

Register Now

Vendor:

Surgent McCoy CPE, LLC

Start:

January 17, 2019 9:00am

End:

January 17, 2019 5:00pm

Designed For:

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