2023 Form 1120 Update and Review: Preparing Corporate Income Tax Returns
- Course Description
This course updates the seasoned and relatively new tax professional with the Federal Income Tax issues surrounding businesses that are structured as corporate entities and the filing of IRS Form 1120. The course introduces the tax professional on how to approach the preparation of the Form 1120 in a methodical, common sense manner and the opportunity to understand the provisions of the Internal Revenue Code that are needed in order to properly prepare the Corporate income tax return for tax year 2023 and beyond. The course discusses the Schedules L, M-1 and M-2.
- Learning Objectives
Upon completion of this course the Tax Professional will be able to better:
Prepare Form 1120 with a solid base of understanding of corporate taxation. Recognize the concept of double taxation for the C-Corporation and the impact of the distributions to shareholders of the Corporation in the form of dividends, return of capital and capital gains.
Understand the purpose of the corporate forms.
Grasp the importance of the Schedule L Balance Sheet and the Reconciliation of Book to Tax Income on the Schedule M-1 as well as the Reconciliation of Retained Earnings on the Schedule M-2.
Understand changes introduced in any current legislation impacting C-Corporations.
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Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.
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Your certificate will be emailed to you within 10 business days of the completion of the course.
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- Business Entity Series materials and Business Entity Series presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
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