Tax Preparer
by The Tax Institute at H&R Block 2020-07-25 12:46:58
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Whether you’re already a tax preparer or you’re looking to become one, you need a firm grasp of the tax concepts on which individual taxation is based. We created the Wiley Tax Preparer as a refresher for the experienced tax preparer, and... Read more

Whether you’re already a tax preparer or you’re looking to become one, you need a firm grasp of the tax concepts on which individual taxation is based. We created the Wiley Tax Preparer as a refresher for the experienced tax preparer, and as a readable guide for the less-experienced tax preparer.

This timely guide is an essential tax resource providing you with useful information on tax principles and filing requirements that a preparer must know to complete a 1040 series return and associated schedules. You’ll refer to it time and again, for information about:

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

If you’re looking for a practical guide to the principles behind Form 1040, look no further. The Wiley Tax Preparer is the most accessible guide to understanding how complex tax laws affect individual taxpayers.

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  • File size
  • Print pages
  • Publisher
  • Publication date
  • ISBN
  • 10.9x8.4x1.3inches
  • 568
  • Wiley
  • March 1, 2013
  • 9781118072622
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