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Monday, October 28, 2024 Live Webcast

Form 1040 Return Review Boot Camp for New and Experienced Reviewers (X1-ERTW-2024-01-WEBNR-302-01)

9:00 AM - 5:00 PM EDT
webcast

Vendor Platform

8 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. The course includes dozens of practice tips for new reviewers and is 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
  • Several new reporting issues for the reviewer to consider, including the main credit provisions as enacted under the American Rescue Plan
  • 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 filing past-due tax returns for delinquent clients
  • 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

COURSE LEVEL

Intermediate

PREREQUISITES

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

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Nicole DeRosa

Nicole M. DeRosa, CPA, MAcc

Director of Tax

SKC & Co. CPAs, LLC

Nicole is the director of tax  with SKC & Co, CPAs LLC  and has more than 15 years of public accounting experience, specializing in taxation for closely held businesses and individuals. In addition to working with clients in an array of industries, she was also an adjunct professor at Raritan Valley Community College where she taught Tax Accounting for Individuals for four years. 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, which recognizes young professionals who are making a name for themselves in the New Jersey accounting landscape. In 2019 she was awarded the “Women to Watch” Ovation Award which applauds the growth and success of female members for their leadership, potential, contributions and commitment to fostering the success of their colleagues. Most recently, Nicole was named to the 2020 edition of NJBIZ’s Power 50 List which accounts for the most influential men and women in the accounting profession that helps to keep the states’ business on track. 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. She is a graduate of Fairleigh Dickinson University, with degrees in Accountancy and Master of Science in Accountancy.

PRICING

$269.00 - Member

$289.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent

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