Preparing Form 1120S: Part 1 (Half-Day Webinar)
Date: Friday, December 4, 2026
Instructor: Greg White
| Begin Time: |
8:00am Pacific Time
9:00am Mountain Time
10:00am Central Time
11:00am Eastern Time |
| CPE Credit: |
4 hours for CPAs
4 hours Federal Tax Related for EAs and OTRPs
4 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
This intermediate‑level course provides a practical, line‑by‑line walkthrough of Form 1120‑S, equipping tax professionals with the knowledge and strategies needed to prepare accurate and compliant S corporation returns. Participants will learn how to navigate key schedules, avoid common filing errors, apply passive activity rules, determine reasonable compensation, and implement strategies that reduce or eliminate late‑filing penalties.
Designed with real‑world practice in mind, this session highlights the most frequently misunderstood areas of S corporation reporting and offers actionable guidance to strengthen compliance, documentation, and advisory insights for S corporation clients.
Who Should Attend
This course is ideal for tax professionals who prepare, review, or advise on S corporation returns.
Topics Covered
- Filing requirements and deadlines for S corporation returns
- Completing Schedule B and addressing passive activity grouping questions
- Understanding and preparing Schedule 1125‑E for officer compensation
- Determining reasonable compensation for shareholder‑employees
- Special rules for minimally involved shareholders
- Strategies for preventing and eliminating late‑filing penalties
- Practical tips for completing Form 1120‑S accurately and efficiently
Learning Objectives
- Complete Form 1120‑S on a line‑by‑line basis using IRS instructions and best practices.
- Identify strategies to eliminate or mitigate late‑filing penalties for S corporation returns.
- Interpret and correctly answer Schedule B questions, including passive activity grouping disclosures.
- Evaluate when Schedule 1125‑E is required and properly report officers’ compensation.
- Determine appropriate reasonable compensation levels for shareholder‑employees.
- Recognize special rules that apply to shareholders with limited involvement in the business.
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
Some experience in federal taxation of S corporations
Advance Preparation
None
