Reviewing S Corporation Tax Returns: What Are You Missing? (SVP5)

The complexity of S corporation tax law creates a formidable challenge to the tax practitioner for accurate compliance and reporting of their client's S corporation activities.  The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed including income, deductions, K-1 reporting, and more! This course follows a highly illustrative case study format to increase participant comprehension and retention.

Learning Objectives:

• Identify common mistakes made on S corporation tax returns.
• Determine strategies to avoid making mistakes on S corporation tax returns.

Major Topics:

• Form 1120S 
• Schedule K-1 
• Schedule L 
• Schedules M-1 and M-2 
• Form 4562 
• Form 4797 

Level: Intermediate

Instructor: David Peters

Developer: AICPA

Area of Study: 4 Taxes     

Prerequisite: Basic knowledge of S corporation income taxation