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

Available Anytime

Location: Online

8Credits

Technical Business

Registration is Open

FICPA Members

~~$199.00 Regular Price~~

Nonmembers

$275.00 Regular Price

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	Name	Email	Firm Office

Product Code: SU24-ERTW-SSWC

Level: Intermediate

Vendor: Surgent

Field of Study: Taxes

Overview:

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.

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

Major Topics:

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
Several new reporting issues for the reviewer to consider, including new and enhanced clean energy credits under the Inflation Reduction Act (IRA)
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

Designed For:

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

Prerequisite:

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

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.