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Thursday, January 30, 2025 Live Webcast

Form 1040 Return Review Boot Camp for New and Experienced Reviewers (X1-ERTW-2025-01-WEBNR-30-01)

9:00 AM - 5:00 PM EST
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 M. DeRosa is a New Jersey-based CPA with over 15 years of experience 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.

Ms. DeRosa is a member of the New Jersey Society of Certified Public Accountants and is active on the Content Advisory Board and Federal Taxation Interest Group; she is currently a member of the Board of Trustees. 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. In 2022, she was awarded the “Impact” Ovation Award, which recognizes those who exhibit exemplary efforts and stellar achievement in advancing the interests and needs of New Jersey’s accounting profession through active engagement, leadership, and advocacy. Ms. DeRosa was also named to the 2022 edition of the NJ BIZ Power 50 List for the third year in a row; this list 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 enjoys staying active at the gym, volunteering at the local animal shelter, and is active in various charitable organizations, such as St. Jude.

Ms. DeRosa is a graduate of Fairleigh Dickinson University, with degrees in accountancy and a Master of Science in Accountancy.

PRICING

$269.00 - Member

$289.00 - Nonmember

Register Today


Note: Online pre-registration will close on January 30 at 8:30 AM.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent

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