Surgent's Effective and Efficient Senior-Level Review of Individual Tax Returns (ERTW)

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Field of Study
Tax
Course Level
Intermediate
Vendor
Surgent McCoy CPE LLC

Registration Fees

MSCPA-AICPA Member
$219.00
MSCPA Member
$219.00
AICPA Member
$219.00
Non-Member
$219.00
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Thursday, Jan 4, 2018
9:00am – 5:00pm

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. Updated for impacts of the Protecting Americans Against Tax Hikes (PATH) Act of 2015.

Designed For

Senior-level st

Course 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 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
  • 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

Prerequisites

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

The start date for this course has passed. Registration is no longer available.