1120 Preparation and Planning 1: Introduction to Form 1120 (2023 Edition)
Author: Barbara Weltman, Sidney Kess, Greg White
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
This one hour CPE course provides a refresher on the preparation of corporate income tax returns, an overview of the elements of form 1120, and key requirements and selections.
Publication Date: September 2022
Designed For
Tax practitioners.
Topics Covered
- Introduction
- Corporate Information
- Schedule K
Learning Objectives
- Determine both the nature of the corporate tax return and the role of the preparer in the preparation of the return
- Recognize key filing requirements, including extension options
- Identify the information required on the top of page 1 of Form 1120 as well as on Schedule K, page 3 of Form 1120
- Determine the implications of being a personal service corporation
- Identify and assess the options for and limitations on selecting an accounting method and tax year for the corporation
- Identify the item in which either box 3 or 4 should be checked if you're filing Form 1120 and wish to indicate a name or address change
- Identify the form on which an accounting method change generally must be requested during the year in which the taxpayer wants to make the change
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
