Reviewing S Corporation Tax Returns What Are You Missing Webcast [CLTRM]
Time: 06:00am-9:30am
Subject:
TaxationCredit Hours:
4.00Price:
Member: $185.00
Non-member: $255.00
Discussion Leader:
Sali L. Sheafor, CPA
more info
Sali is an accomplished accounting professional with over twenty-five years of experience. Alongside her extensive accounting background, she has spent the last eight years as a leading Continuing Professional Education (CPE) course instructor. Sali's expertise and client-centric approach have allowed her to work with individuals and organizations nationwide, holding licenses in Wisconsin, Minnesota, and Florida. Graduating from the University of Wisconsin system, Sali worked in several public accounting firms prior to establishing her own public accounting firm, TAP Consulting, LLC. Through her firm, she has built a strong reputation for delivering exceptional accounting services while creating a relaxed and enjoyable atmosphere for her clients with her humor.
Sali's infectious laughter and genuine love for learning make her a sought-after speaker. She combines entertainment and education in her sessions on the ever-changing accounting and tax regulations, captivating audiences and simplifying complex information. She co-founded the Onalaska chapter of Toastmasters, enhancing public speaking and leadership skills. Sali's dedication to community involvement is evident through her service on multiple boards. With her dynamic blend of accounting expertise, humor, and passion for continuous learning, Sali is a captivating speaker who leaves audiences enlightened and entertained.
closeWebsite registration for this course closes on December 7, 2026. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Reviewing S Corporation Tax Returns: What Are You Missing? Webcast (CLTRM)December 8th, 2026 / 6:00 am 9:30 am Alaska Time
Live Webcast / Idaho Society of CPAs Virtual Classroom
The complexity of S corporation tax law creates a formidable challenge for tax practitioners to accurately comply with and report their clients' S corporation activities. This course covers the common errors practitioners make on S corporation tax returns that review staff often miss. The intent is to sharpen reviewers' skills by examining four case studies and discussing issues in which additional information from the client maybe warranted, as well as areas of tax law where proper treatment requires further analysis and information. Matters addressed include income, deductions, and reporting on Schedules K-1, K-2, and K-3. Participants are challenged to consider the effects of recent tax legislation, including H.R. 1, commonly referred to as OBBBA, when evaluating the case studies. This course follows a highly illustrative case study format to increase participant comprehension and retention.
Major Topics:
Common errors made involving the following tax forms:
-Form 1120-S
-Schedule K-1
-Schedules K-2 and K-3
-Schedule L
-Schedules M-1 and M-2
-Form 4562
-Form 4797
Learning Objectives:
When you complete this course, you will be able to:
-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.
Designed For: CPAs and managers and partners responsible for reviewing returns
CPE Credits: 4, Taxation
Level of Knowledge: Intermediate
Prerequisite: Experience with S corporation tax return preparation
Acronym: CLTRM
Discussion Leader: Sali L. Sheafor, CPA
