Webcast: Effective and Efficient Senior-Level Review of Individual Tax Returns (XSERTW17)
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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) Ac

 Export to Your Calendar 12/22/2017
When: 12/22/2017
8:00 AM until 4:00 PM
Where: Webcast
SURGENT
ERTW-2017-01-WEBNR-356-01
United States
Presenter: Dennis Benvie, MS, CPA


Online registration is available until: 12/20/2017
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Acronym XSERTW17
CPE 8 hours
Vendor Surgent
Category
Taxation
Level Intermediate
Prerequisite Experience in preparing Form 1040, reviewing diagnostics, and preparing workpapers
Adv Prep None
Yellow Book? No
Designed for Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures
Registration
Member $219
CPA Non-Member $319

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

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.

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

Topics

  • 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