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. Join us as we discuss the common errors practitioners make on S corporation tax returns that are often missed by review staff. 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.
*Identify common mistakes made on S corporation tax returns. *Determine strategies to avoid making mistakes on S corporation tax returns.
Common errors made involving the following tax forms: • Form 1120S • Schedule K-1 • Schedule L • Schedules M-1 and M-2 • Form 4562 • Form 4797 • And More!
CPAs working with clients requiring up-to-date expertise in S corporation taxation for the current tax season
Basic knowledge of S corporation income taxation