Events Search
  Summary & Check Out (0)
Monday, October 25, 2021 Live Webcast

Form 1040 Return Review Boot Camp for New and Experienced Reviewers (X1-ERTW-2021-01-WEBNR-298-01)

9:00 AM - 5:00 PM EDT
webcast

Vendor Platform

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

Nicole DeRosa

Nicole M. DeRosa, CPA, MAcc

Senior Tax Manager

Wiss & Company, LLP

Nicole is a senior tax manager with Wiss & Company, LLP and has more than 12 years of public accounting experience, specializing in taxation for closely held businesses and individuals. She was also an adjunct professor at Raritan Valley Community College, where she taught Tax Accounting for Individuals. Nicole is a member of the NJCPA and is the leader of the Emerging Leaders Council. She is also active on the Content Advisory Board, Federal Taxation Interest Group and Emerging Leaders Interest Group. In 2015, she was awarded “30 Under 30” by the NJCPA, and in 2019, she was awarded the “Women to Watch” Ovation Award. Most recently, Nicole was named to the 2020 edition of NJBIZ’s Power 50 List. In Nicole’s spare time, she teaches Zumba Fitness and is active in various charitable organizations, such as St. Jude's and the American Heart Association.

PRICING

$259.00 - Member

$279.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent