Effective & Efficient Senior-Level Review Individual Tax Returns [ERTW Anc]
Time: 8-4
Subject:
TaxCredit Hours:
8.00Price:
Member: $295.00
Non-member: $445.00
Discussion Leader:
Susan Smith, CPA
more info
Susan manages her own firm specializing in tax planning for individuals and business owners. Smith spent 14 years as a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership specialized practice units. While at Peat Marwick, Smith led the real estate and tax practices locally.
Smith is a frequent speaker at tax conferences and has been an associate adjunct professor at Widener University in the master’s in taxation program. Her ratings have consistently exceeded 4.5 on a scale of 5.0. With regard to her education, she earned her Bachelor of Business Administration degree, with an accounting concentration, in 1978.
closeWebsite registration for this course closes on August 21, 2012. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Effective and Efficient Senior-Level Review of Individual Tax ReturnsAugust 28, 2012
Location:
Alaska Society of CPAs
341 West Tudor Rd. #105
Anchorage, AK 99503
$295 Member Fee
$445 Non Member Fee
Most review techniques developed by professionals are self-taught. 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 review a return effectively and thoroughly.
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
Learning 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
Who Will Benefit
Senior staff new to the review process or experienced partners/managers looking to update and/or expand their review procedures
Level of Knowledge: Intermediate
Prerequisite: Experience in preparing Forms 1040, reviewing diagnostics, and preparing workpapers
Advanced Preparation: None
Credits: 8
Field of Study: Taxes
Acronym: ERTW
Discussion Leader: Susan Smith
