Reviewing S Corporation Tax Returns: What Are You Missing?
Overview
Training your reviewer’s eye
The complexity of S corporation tax law presents a formidable challenge to tax practitioners for accurate compliance and reporting of S corporation activities.
The course identifies the common errors practitioners make on S corporation tax returns that review staff should spot.
Four returns for you to review
Learners can fine-tune their reviewing skills by examining case studies of sample tax returns that may warrant additional information from the client and areas of tax law where proper treatment requires additional analysis and information. Issues discussed include:
The tax return in each case study contains some errors or inaccuracies, giving learners the added opportunity to apply their reviewing skills.
Highlights
Common errors made involving the following tax forms:
Prerequisites
Experience with S corporation tax return preparation
Designed For
Objectives
- Identify the accounts that affect the accumulated adjustments account.
- Identify which items go on page 1 of Form 1120-S and which go on Schedule K.
- Determine how capital gains and losses are disclosed on Form 1120-S.
- Determine how wash sales and installment sales are treated by S corporations.
- Determine the tax consequences when a newly converted S corporation sells appreciated property it acquired while operating as a C corporation.
- Determine the tax consequences associated with the distribution of appreciated property by an S corporation to a shareholder in redemption of stock.
Non-Member Price $269.00
Member Price $225.00