1120 Preparation and Planning 1: Introduction to Form 1120 (2022 Edition) (Currently Unavailable)
Author: Barbara Weltman, Sidney Kess
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
This one hour CPE course provides a refresher on the preparation of corporate income tax returns, an overview of the elements of form 1120, and key requirements and selections.
Publication Date: September 2021
Designed For
Tax practitioners.
Topics Covered
- Refresher on the preparation of corporate income tax returns
- Overview of the elements of form 1120
- Filing requirements
- Information to include on the return
- Requirements if the corporation is a personal service corporation (PSC)
- Tax year requirements
- Method of accounting
- Schedule K
Learning Objectives
- Determine both the nature of the corporate tax return and the role of the preparer in the preparation of the return
- Recognize key filing requirements, including extension options
- Identify and assess the options for and limitations on selecting an accounting method and tax year for the corporation
- Recognize when a C corporation must file an income tax return for 2021
- Recognize when certain returns are do
- Identify when a C corporation must file Form 1120 electonically
- Recognize what is not a special status indicated in Item A of Form 1120
- Identify favorable rules for a personal service corporation
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
