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Reviewing S-Corp Returns
Tax
Webcast

Reviewing S-Corp Returns

The complexity of S corporation tax law creates a formidable challenge to the tax practitioner for accurate compliance and reporting of S corporation activities. Join us as we discuss the common errors practitioners make on S corporation tax returns that are often missed by review staff.

$197 - $241
Do you have an AICPA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Taxes

Level

Intermediate

CPE Credits

4

Author(s)

Deborah A. Phillips

Availability

Product Number

VCL4STRM22070

 View  
 Business & partner 
Product Details

Sharpen your skills!

Fine-tune your reviewing abilities by examining case studies of issues that may warrant additional information from the client and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed, including income, deductions, K-1 reporting, and other complex tax law issues.

Key Topics

Common errors made involving the following tax forms:

  • Form 1120S
  • Schedule K-1
  • Schedule L
  • Schedules M-1 and M-2
  • Form 4562
  • Form 4797

Learning Outcomes

  • Determine how transfers to corporations in exchange for stock can be nontaxable under IRC Section 351.
  • Calculate the balance in an accumulated adjustments account and enter that calculation on Form 1120S, Schedule M-2.
  • Determine how distributions to an S corporation shareholder are taxed.
  • Determine how capital gains and losses are disclosed on Form 1120S.
  • Determine how installment sales are disclosed by S corporations.
  • Calculate the excess net passive income tax for an S corporation.
  • Identify and properly report cost recovery deductions on Form 1120S and the associated Schedule K-1s issued to shareholders.
  • Determine the tax consequences when a newly converted S corporation sells appreciated property it acquired while operating as a C corporation.
  • Calculate and properly report the tax consequences associated with the distribution of appreciated property by an S corporation to a shareholder in redemption of stock.
  • Accurately determine how to allocate S corporation pass-through items when the shareholders’ interests in the corporation change during the tax year.

Who Will Benefit

  • CPA managers and partners
Credit Info
CPE Credits
4
NASBA Field of Study
Taxes
Level
Intermediate
Prerequisites
Basic knowledge of S corporation income taxation
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
4h
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
$241.00
AICPA Members
$197.00

Group ordering for your team

2 to 5 registrants

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Speakers
Deborah A. Phillips
CPA, MST
Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S Corporation tax law as well as IRS audits and procedures. Debbie, retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS) where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 31 years ago and she has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a text book author. Debbie earned her master's degree in taxation from Widener University.
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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Reviewing S-Corp Returns
Select from the following options:
Nov 15, 2022
5pm9pm GMT
Dec 22, 2022
1pm5pm GMT
Jan 12, 2023
5pm9pm GMT
Feb 07, 2023
1pm5pm GMT
Nonmember Price
$241.00
Price excluding sales tax
$241.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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