Reviewing Partnership Tax Returns: What Are You Missing?

The partnership section of the Internal Revenue Code is arguably one of the most difficult sections to comprehend. That complexity, and the reliability of tax software to properly handle it, can create many issues for you and your staff when processing you client's LLC and partnership tax returns. Join us as we discuss the common errors practitioners make on partnership tax returns that are often missed by review staff. The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted 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 more! This course follows a highly illustrative case study format to increase participant comprehension and retention.

Learning Objectives:

- Identify common mistakes made on partnership tax returns. 

- Determine strategies to avoid making mistakes on partnership tax returns. 

Major Topics:

Common errors made involving the following tax forms:

- Form 1065

- Schedules K and K-1

-Schedules M-1 and M-2

- Form 4562

- Form 4797

This virtual seminar is being offered through our partnership with Midwest State CPA Societies. You will launch from your MyOSCPA learning center day of and be prompted to enter in name and state society at time of entering.