Effective and Efficient Senior-Level Review of Individual Tax Returns

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Overview

8 Credits
IN-PERSON

Senior staff new to the review process or experienced partners/managers looking to update and/or expand their review procedures

Objectives

Participants will be able to expand the process involved in reviewing applicable tax returns; identify the most common areas that result in errors and document a review, including consideration of risk management

Major Topics

  • Review a staff-prepared Form 1040 from client-provided information
  • 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

Designed For

Senior staff new to the review process or experienced partners/managers looking to update and/or expand their review procedures

Prerequisite

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

Sessions

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Thursday, January 15, 2015

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FICPA Seminar EZMaterials! Instead of picking up paper manuals at the event, you’ll be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. For an additional fee you may choose to purchase a hardcopy of the seminar manuals. If requested during registration at least eight days prior to the course, your hardcopy will be available for pickup at the event. Click here for more information.