Surgent’s Form 1040 Return Review Boot Camp for New and Experienced Reviewers (SU1249/23)
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January 2, 2024 @ 9:00 am - 5:00 pm
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 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.
Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures
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
Timely coverage of breaking tax legislation Review an error-prone “staff-prepared” Form 1040 from client-provided information. Were do you start? Get to know your client and ask the questions 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 Reconciling time pressure with thoroughness and quality control Professionals acting professionally
Experience in preparing Form 1040, reviewing diagnostics, and preparing workpapers