1040 Preparation and Planning: Tax Practice (Currently Unavailable)

Author: Barbara Weltman, Sidney Kess

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This course looks at issues affecting tax practice, such as when and where to file returns; payment options; filing extensions; electronic filing; amended returns; offers in compromise; audit issues; and rules for return preparers. It also reviews installment agreements, interest and penalty suspension, electronic filing, special time limit situations, and interest on underpayments and overpayments.

Publication Date: January 2017

Designed For
Tax practitioners.

Topics Covered

  • Issues affecting tax practice
  • Payment options
  • Filing extensions
  • electronic filing
  • Amended returns
  • Offers in compromise
  • Audit issues
  • Rules for return preparers
  • Reviews installment agreements
  • Interest and penalty suspension
  • Electronic filing
  • Special time limit situations
  • Interest on underpayments and overpayments

Learning Objectives

  • Determine when and where to file the returns
  • List options for paying taxes
  • Obtain filing extensions
  • Identify electronic filing requirements
  • Identify the time limits for filing amended returns
  • Identify the limits on refunds
  • List the rules for offers in compromise
  • Prepare for audits and identify steps to avoid them
  • Evaluate when and how to take a case to court
  • Determine when to recover attorney's fees from the government
  • Identify the rules of conduct and penalties for misconduct for return preparers

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
1040 Preparation and Planning 1: Fundamentals or basic understanding of Form 1040.

Advance Preparation
None

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