Effective and Efficient Senior-Level Review of Individual Tax Returns Webinar

Most review techniques developed by professionals are self-taught and fine-tuned via experience. Yet how does one start? The purpose of this manual is to give new reviewers an understanding of the procedures utilized to review a tax return. Reviewers with experience also may find that the multitude of checklists allows a more thorough review or supplement to their review technique. Its emphasis is not planning; rather, it is to develop a strategy to properly review a return effectively and thoroughly.
Highlights
* Review and deliberate an error-prone 'staff-prepared' Form 1040 from client-provided information * What are common errors preparers make and what are the areas generating concern * 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