On-Demand

43.5 CPE

Tax Staff Essentials Level 3 - Tax Senior/Supervisor (2024)

Tax developments for seniors and supervisors

On-Demand
43.5 CPE

Tax seniors and supervisors get the tax updates and education they need to excel in their roles.

Courses in Level 3 of Tax Staff Essentials are designed to help tax professionals tackle the more challenging areas of taxation by focusing on understanding business strategies and analyzing clients’ competitive positions.

Materials encourage professionals to convert this knowledge into tax planning and business advice.

Popular tax niches

Increasing exposure to specialized tax niches will position you to capitalize on emerging cross-selling opportunities. Key subject matters covered include:

  • FASB ASC® 740, Income Taxes
  • Estates and trusts
  • Tax-exempt organizations
  • Reviewing individual, S corporation, and partnership returns

Courses Included:

  • Form 990 - Mastering Its Unique Characteristics
  • Income Tax Accounting
  • Estate & Trust Primer
  • Reviewing Individual Returns: What Are You Missing?
  • Reviewing S Corporation Tax Returns: What Are You Missing?
  • Reviewing Partnership Tax Returns: What Are You Missing?

Learning Objectives

  • Identify filing requirements for Form 990, Form 990-EZ, and Form 990-N.
  • Recall the objectives and key terms of FASB ASC 740, Income Taxes.
  • Identify the elements of a trust.
  • Identify the warning signs that a client might have unreported income.
  • Determine proper tax return reporting of a like-kind exchange transaction.
  • Identify the accounts that affect the accumulated adjustments account.
  • Identify which items go on page 1 of Form 1120-S and which go on Schedule K.
  • Identify the mechanics of a partnership’s tax return, including partner capital account calculations and permissible tax years.
  • Determine the proper allocation of recourse liabilities among partners.

Major Topics

  • Keys to getting Form 990 preparation correct the first time
  • Scope of FASB ASC 740
  • Tax positions, including uncertain tax positions
  • Common errors made involving Forms 1040, 1120-S, and 1065
  • Taxation of trusts and estates
  • Basic concepts of estate planning

CPE Credits Available

43.5 CPE
43.5
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Tax

Prerequisites

Basic knowledge of U.S. federal income taxation

Intended Audience

  • Tax seniors and supervisors in public practice
  • Mid-level CPAs working in industry

Provider

AICPA - Durham

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