Basic Staff Tax Training: Individual 2024

Objectives:

• Identify all of the individual income tax series 1040 and basic schedules and know when each form is used• Identify the major individual income tax items that most taxpayers report each year• Recognize source documents and how to use these documents to complete Form 1040 • Calculate the income tax liabilities of individual taxpayers with common individual tax items • Identify available resources to assist the practitioner in identifying and resolving individual income tax questions • Recognize concepts through the use of basic quick case studies

Major Topics:

• Emphasize form 1040 and the accompanying reporting schedules for a basic individual income tax return • Identify and be able to implement basic individual income tax planning ideas for clients • Familiarity with several source documents utilized in the preparation of an individual income tax return • Identify common errors made in the preparation of an individual income tax return and understand how to avoid the errors in the future

Major Topics:

• Emphasize form 1040 and the accompanying reporting schedules for a basic individual income tax return • Identify and be able to implement basic individual income tax planning ideas for clients • Familiarity with several source documents utilized in the preparation of an individual income tax return • Identify common errors made in the preparation of an individual income tax return and understand how to avoid the errors in the future

Designed For:

New tax preparers and experienced staff seeking a refresher.

Prerequisites:

Basic understanding of individual income taxation.