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. The course includes dozens of "practice tips for new reviewers" and is updated for impacts of newly enacted legislation.
Highlights
- 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
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
Designed For
Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures
Registration for this course has passed.
Course Pricing
WYOCPA Member Fee
$239.00
Non-Member Fee
$239.00
Your Price
$239.00
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