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Friday, January 17, 2020 Webcast

Form 1040 Return Review Boot Camp for New and Experienced Reviewers (X1-ERTW-2020-01-WEBNR-17-01)

9:00 AM - 5:00 PM EST
webcast

Webcast

8.0 CPE Credits in TX

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 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 newly enacted legislation.

DESIGNED FOR

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

BENEFITS

  • 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

HIGHLIGHTS

  • Reviewing a staff-prepared Form 1040 from client-provided information
  • What are common errors preparers make and what are the areas generating malpractice claims?
  • 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 filing past-due tax returns for delinquent clients
  • First-time client issues requiring extra scrutiny
  • Problem clients: unsubstantiated deductions?
  • Multiple checklists of efficient procedures to identify potential issues on a 1040 return
  • The importance of engagement letters, questionnaires, and §7216 permission statements
  • Listing of schedules for staff to prepare to make a review easier, including basis issues for 1040 clients

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in preparing Forms 1040, reviewing diagnostics, and preparing work papers.

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • This seminar qualifies for IRS credit.

Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.

INSTRUCTOR

Dennis Benvie

Dennis P. Benvie, CPA, MS

Tyirin, Benvie & Co., CPAs

Dennis P. Benvie is a Director, Tax and Advisory Content, with Surgent. In addition to instructing continuing professional education seminars for 29 years, he also writes, edits, and/or updates many Surgent publications. He consistently receives high evaluations for knowledge and presentation skills, and has been recognized as The Outstanding Discussion Leader of the Year, awarded by the state of Indiana. Prior to becoming a member partner of Surgent, Dennis spent 15 years as a partner with a local Cincinnati CPA firm. He has 30+ years of public accounting experience specializing in tax, accounting, and management advisory for closely held businesses and individuals. His background also includes association with a tax attorney’s office and instructing accounting classes as adjunct accounting faculty of local state universities. Mr. Benvie is a graduate of Miami (Ohio) University, degree in Accountancy, and has also earned a Masters of Science in Taxation degree from the University of Cincinnati.

PRICING

$239.00 - Member

$239.00 - Non Member

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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Print a registration form

COURSE DEVELOPER

Surgent