Description
- Practices and Procedures
- Penalties to be assessed by the IRS against a preparer for disregard of the rules and regulations
- Furnishing a copy of a return to a taxpayer
- Safeguarding taxpayer information
- Treatment of Income and Assets
- Taxability of wages, salaries, tips, and other earnings
- Reporting requirements of Social Security benefits
- Determination of basis of assets
- Deductions and Credits
- Medical and dental expenses
- Types of interest and tax payments
- Child and dependent care credit
- Other Taxes
- Alternative Minimum Tax
- Self-Employment Tax
- Preliminary Work and Collection of Taxpayer Data
- Collecting a taxpayer's filing information and determining their status
- Determine filing requirements, including extensions and amended returns
- Personal exemptions and dependents
- Completion of the Filing Process
- Check return for completeness and accuracy
- Tax withholding, payment and refund options, and estimated tax payments
- Explaining and reviewing the tax return
- Ethics and Circular 230
- Preparer's due diligence for accuracy of representations made to clients and the IRS
- Sanctions that may be imposed under Circular 230
- Rules governing authority to practice before the IRS
Details
Are you a tax preparer who wants to stay ahead of the game? Or maybe you're just starting out and need some guidance in the world of individual taxation. Look no further than the Wiley Tax Preparer: A Guide to Form 1040. This comprehensive book is designed to refresh the experienced tax preparer's knowledge and provide a readable guide for those who are new to the field.
With the Wiley Tax Preparer by your side, you'll have access to all the information you need to tackle the complexities of tax principles and filing requirements for Form 1040 series returns. From practices and procedures to penalties and safeguarding taxpayer information, this guide covers it all.
Not sure about the taxability of certain income or how to determine the basis of assets? With the Wiley Tax Preparer, you'll gain a firm understanding of these concepts and more. Plus, you'll learn about deductions, credits, and other taxes that could greatly impact your clients' returns.
But it doesn't stop there. This guide also delves into preliminary work, collection of taxpayer data, and ethics. You'll gain the knowledge you need to confidently complete the filing process and ensure accuracy in your clients' returns.
Don't miss out on this practical guide to the principles behind Form 1040. The Wiley Tax Preparer is the go-to resource for tax preparers who want to navigate the complexities of individual taxation with ease.
Take your tax preparation skills to the next level. Get your copy of the Wiley Tax Preparer today!
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