Surgent's Form 1040 Return Review Boot Camp for New and Experienced Reviewers
Available Until
On-Demand
8.0 Credits
Member Price $159.00
Non-Member Price $234.00
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.
Highlights
- 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
Prerequisites
Experience in preparing Form 1040, reviewing diagnostics, and preparing workpapers
Designed For
Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures
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
Notice
“Adding to Calendar” does not register you for this event. Please either register online by clicking “Add to Cart” or contacting OSCPA at 503-641-7200 / 800-255-1470, ext. 3. Thank you!
Non-Member Price $234.00
Member Price $159.00