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Home Interest Areas Tax Resources Tax Practice Guides and Checklists 2010 Tax Practice Guides and Checklists

2010 Tax Practice Guides and Checklists

2010 Tax Practice Guides and Checklists 

Quick links: Updates | New Items for this Year | Download Individual Guides | Notice to Readers

UPDATES

Form 709 - Gift Tax and Generation Skipping Transfer Tax

The IRS recently revised this form and the instructions requiring the following changes. On the form 709 Checklist item 510 has been deleted and Item 507 should read as follows:

Consider providing to the beneficiaries information on basis of the asset in the hands of the donor and gift taxes
paid in order for them to adjust their basis in the assets received.  
    

    

Fillable and Savable PDF Version

We are introducing a Fillable and Savable PDF version of the One-Click Option of the Practice Guides and Checklists. The forms in the PDF versions are exactly the same as they are in the original PDF versions except they can be filled in online and saved directly to a client file. However, this is only available as a PDF document. You will need the most recent version of Adobe Reader in order to use the new version.

The word versions remain the same.

We hope you will find this new version of the checklists beneficial and if you have any comments on them, please send us an email to taxinfo@aicpa.org.

 

 

State Guides & Checklists are now posted

 

 


The 2010 State Guides and Checklists have been posted to the AICPA website. Please note that due to the timing of the passage of Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act Of 2010 (TRUIRJCA 2010), this practice guide has not been updated for any state tax changes made in response to the passage of TRUIRJCA 2010.

Filing Dates for State Returns

The IRS announced late in December that the Form 1040 filing deadline for 2010 returns is April 18, 2011.  Some, but not all states conform their tax return filing due dates to the federal dates. Be sure to verify the due dates for the state returns you prepare this filing season.

E-filing Checklists are included in Checklists for Specific Forms

Many members have inquired about the fact that they are not finding an e-filing checklist in the 2010 Practice Guides and Checklists.  Please note that the E-filing information in the 2010 Guides and Checklists is included in the checklists for specific  forms rather that in a separate E-file checklist.  For example, for individual returns, you will find the E-filing information in the 600 section of the Form1040 long and short checklists.

NEW ITEMS FOR THIS YEAR

Estate & Gift Tax:

The rules for 2010 on the estate and gift tax presented a significant challenge to our preparer and our reviewers as the IRS guidance to date is incomplete. Until the IRS provides additional guidance, there is insufficient information on which to base creating a checklist for the proposed carryover basis forms.  We will be tracking these developments and will provide one when the IRS guidance is released. Please note these new forms in the estate and gift tax area:

For estates that were created in 2010, it is critical that all participants be aware of the tax impact of decisions that were made or that might be made by you, the executors, and other representatives of the estate until additional guidance is available. The task force created these statements to assist in that end.

Tax Exempt Organizations: 

Last year we received many requests to add a 990-EZ Checklist due to the significant increase in the usage of this form. We hope this additional checklist is helpful.

DOWNLOAD INDIVIDUAL GUIDES BELOW:


NOTICE TO READERS

Tax practice guides and checklists are designed as educational and reference material for the members of the Tax Section and others interested in the subject. They do not establish standards or preferred practices.

Although much thought and effort have gone into the development of these guides, they are subject to change. These practice guides are issued as drafts only, and you retain responsibility for their final content. Please review them carefully and make any changes necessary for your specific use.

Members of the 2010 AICPA Tax Practice Guides Task Force prepared these practice guides.

The members of the task force are listed alphabetically below:

Chris Davis
Craig Fisher
Lynn Henley
Thomas Herbert
Robert Holman
Arthur Kersh
James M. Littlefield, Chair
Michael Miller
Tom Perdue
Lorraine Travers
Cindy Utterback

On behalf of the task force we would like to offer a special thanks to the reviewers:

Ellen Cook
Mary Kay Foss
Ita Hilly
Robert Kane
Mark Misselback
David Rainey

AICPA Staff:
Abraham Schneier, Senior Technical Manager
Crystal Briscoe, Administrative Secretary

 

 

 

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Short Version Individual Income Tax Return Checklist 2010 - Form 1040

Checklist:  This is the 1040 Short Checklist in the Individual Tax Return from the 2010 Tax Practice Guides and Checklists.
Published on May 13, 2013

Long Version 1040 Individual Income Tax Return Checklist (PDF Fillable) - 2010

Checklist:  This is the 1040 Long (PDF Fillable Version) Checklist in the Individual Tax Return Section from the 2010 Tax Practice Guides and Checklists.
Published on May 13, 2013

Gift Tax Return Organizer PDF Fillable Form 709 2010 - PDF

Checklist:  This is the interactive PDF Fillable Version of the Gift Tax Return Organizer (Form 709) in the Tax Organizers section of the 2010 Tax Practice Guides and Checklists.
Published on May 13, 2013

S Corporation Income Tax Return Checklist 2010 Form 1120S (PDF Fillable)

Checklist:  This is the S Corporation Tax Return Checklist (Long PDF Fillable Version) in the S Corporation Tax Return Section from the 2010 Tax Practice Guides and Checklists
Published on May 13, 2013

Comparison of Business Entities - Tax Form Preparation Guides 2010

Checklist:  This is the Comparison of Business Entities in the Tax Form Preparation Guides from the 2010 Tax Practice Guides and Checklists.
Published on May 13, 2013

S Corporation Income Tax Return Checklist Form 1120S 2010

Checklist:  This is the S Corporation Tax Return Checklist (Long Version) in the S Corporation Tax Return Section from the 2010 Tax Practice Guides and Checklists.
Published on May 07, 2013

Return of Organization Exempt from Income Tax Checklist (990-EZ) - 2010 PDF

Checklist:  This is the PDF version of the Return of Organization Exempt from Income Tax Checklist (990-EZ) from the 2010 Tax Practice Guides and Checklists.
Published on May 07, 2013

Statement to Beneficiary of Basis Information Related to Property Received Under Code Section 6018 - 2010 PDF

Checklist:  This is the U.S. Estate Tax Return Checklist- 6018 Statement to Beneficiary (PDF) from the 2011 Practice Guides and Checklists.
Published on May 07, 2013

Organizer For Tax Exempt Organizations (990) Income Tax Checklist - 2010

Checklist:  This is the Organizer For Tax Exempt Organizations (990) Income Tax Checklist 2010 Form from Income Tax Checklist in the Tax Exemption Organization section of the 2010 Tax Practice Guides and Checklists.
Published on May 07, 2013

Mini-Checklist S Corporation Income Tax Return 2010 - Form 1120S

Checklist:  This is the Mini-Checklist S Corporation Income Tax Return 2010 1120S Form in the S Corporation Tax Return Section from the 2010 Tax Practiace Guides and Checklists.
Published on May 07, 2013

Reportable Transaction Guide - 2010 PDF Version

Checklist:  This is the PDF version of the Reportable Transaction Guide in the Tax Practice Management Forms section of the 2010 Tax Practice Guides and Checklists.
Published on May 07, 2013

Use of The S Corporation Shareholder Basis Schedule (PDF Fillable) - 2010

Checklist:  This is the Use of The S Corporation Shareholder Basis Schedule (PDF Fillable Version) in the Tax Form Preparation Guides section of the 2010 Tax Practice Guides and Checklists.
Published on May 07, 2013

Short Version S Corporation Income Tax Return Checklist 2010 - Form 1120S

Checklist:  This is the 1120 Short Checklist in the C Corporation Tax Return Section from the 2010 Tax Practice Guides and Checklists.
Published on May 02, 2013

Comparison of Business Entities - 2010 Tax Form Preparation Guide

Checklist:  This is the Comparison of Business Entities in the Tax Form Preparation Guides from the 2010 Tax Practice Guides and Checklists.
Published on May 02, 2013

C Corporation Tax Return 1120S Checklist, Short Version (PDF Fillable) - 2010

Checklist:  This is the 1120 Short (PDF Fillable Version) Checklist in the C Corporation Tax Return Section from the 2010 Tax Practice Guides and Checklists.
Published on May 01, 2013

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