BEGIN:VCALENDAR
VERSION:2.0
CALSCALE:GREGORIAN
METHOD:PUBLISH
PRODID://NDCP//487696
BEGIN:VEVENT
DTSTAMP:20260430T041522
VTIMEZONE:America/Chicago
DTSTART:20261106T140000Z
DTEND:20261106T220000Z
UID:487696
SUMMARY:Surgent's Forms 1120-S and 1065 Return Review Boot Camp for New and Experienced Reviewers (SLRR)
LOCATION:Webinar
DESCRIPTION:Surgent's Forms 1120-S and 1065 Return Review Boot Camp for New and Experienced Reviewers (SLRR)\n\n11/06/26 08:00 AM CST\n - 11/06/26 04:00 PM CST\Description:\nMost review techniques developed by professionals are self-taught and fine-tuned via experience. Yet how does one start? The purpose of this course is to give both new and seasoned reviewers additional and advanced procedures via a multitude of checklists to more thoroughly review S corporation and partnership tax returns. Its emphasis is not planning; rather, it is to develop a strategy to properly review a return effectively and thoroughly. The course includes dozens of “practice tips for new reviewers” and is updated for impacts of newly enacted legislation.Objectives:
 Expand the process involved in reviewing applicable tax returns
 Identify the most common areas that result in errors
 Document a review, including consideration of risk management
 Presenters:Sue Smith, CPAField of Study:Taxes (8)Major Topics:
 Reviews of portions of error-prone “staff-prepared” Forms 1120-S and 1065 from client-provided information
 What are common errors preparers make and what are the areas generating malpractice claims?
 Initial administrative groundwork
 The importance of Schedule M-1. Learn how various schedules are related and learn how to self-review
 Reporting requirements and filing exceptions for Schedules K-2 and K-3
 Don’t fall prey to reporting oddities
 When can seemingly separately stated Schedule K items actually be trade or business items to report on Forms 1120-S or 1065?
 Form 1120-S – What exactly is terminating S elections today? How do I recognize a second class of stock? Maintaining shareholder basis schedules; beware of final IRS regulations regarding “open debt”; the default method of calculating basis versus the election under §1367; can an S corporation distribute earnings and profits from C corporation years?
 Form 1065 – New tax reporting requirement for partners’ capital balances
 Why use §704(b) to maintain capital accounts; §704(c) regulations for preventing the shifting of tax consequences among partners or members; allocating recourse, nonrecourse, and qualified nonrecourse debt; a review of §754 step-up in basis rules
 Multiple checklists of efficient procedures to identify potential issues on an 1120-S or 1065 tax return
 Major provisions of HR 1, One Big Beautiful Bill Act (OBBBA), relevant to course material have been included throughout
 \Location:\nWebinar\n\n,
X-ALT-DESC;FMTTYPE=text/html:Surgent's Forms 1120-S and 1065 Return Review Boot Camp for New and Experienced Reviewers (SLRR)<br /><br />11/06/26 08:00 AM CST - 11/06/26 04:00 PM CST<br />Description:<br />Most review techniques developed by professionals are self-taught and fine-tuned via experience. Yet how does one start? The purpose of this course is to give both new and seasoned reviewers additional and advanced procedures via a multitude of checklists to more thoroughly review S corporation and partnership tax returns. Its emphasis is not planning; rather, it is to develop a strategy to properly review a return effectively and thoroughly. The course includes dozens of “practice tips for new reviewers” and is updated for impacts of newly enacted legislation.<br><br><b>Objectives:</b><br><ul>
    <li>Expand the process involved in reviewing applicable tax returns</li>
    <li>Identify the most common areas that result in errors</li>
    <li>Document a review, including consideration of risk management</li>
</ul><br><b>Presenters:</b><br>Sue Smith, CPA<br><br><b>Field of Study:</b><br>Taxes (8)<br><br><b>Major Topics:</b><br><div>
<ul>
    <li>Reviews of portions of error-prone &ldquo;staff-prepared&rdquo; Forms 1120-S and 1065 from client-provided information</li>
    <li>What are common errors preparers make and what are the areas generating malpractice claims?</li>
    <li>Initial administrative groundwork</li>
    <li>The importance of Schedule M-1. Learn how various schedules are related and learn how to self-review</li>
    <li>Reporting requirements and filing exceptions for Schedules K-2 and K-3</li>
    <li>Don&rsquo;t fall prey to reporting oddities</li>
    <li>When can seemingly separately stated Schedule K items actually be trade or business items to report on Forms 1120-S or 1065?</li>
    <li>Form 1120-S &ndash; What exactly is terminating S elections today? How do I recognize a second class of stock? Maintaining shareholder basis schedules; beware of final IRS regulations regarding &ldquo;open debt&rdquo;; the default method of calculating basis versus the election under &sect;1367; can an S corporation distribute earnings and profits from C corporation years?</li>
    <li>Form 1065 &ndash; New tax reporting requirement for partners&rsquo; capital balances</li>
    <li>Why use &sect;704(b) to maintain capital accounts; &sect;704(c) regulations for preventing the shifting of tax consequences among partners or members; allocating recourse, nonrecourse, and qualified nonrecourse debt; a review of &sect;754 step-up in basis rules</li>
    <li>Multiple checklists of efficient procedures to identify potential issues on an 1120-S or 1065 tax return</li>
    <li>Major provisions of HR 1, One Big Beautiful Bill Act (OBBBA), relevant to course material have been included throughout</li>
</ul>
<br />
</div><br />Location:<br />Webinar<br /><br />,  
PRIORITY:3
TRANSP:TRANSPARENT
BEGIN:VALARM
TRIGGER:-PT5M
ACTION:DISPLAY
DESCRIPTION:Reminder
END:VALARM
END:VEVENT
END:VCALENDAR