2024 Form 1120 Update and Review: Preparing Corporate Income Tax Returns
RegisterPaul La Monaca CPA, MST
Session Begins: 1:00 PM ET/12:00 PM CT/11:00 AM MT/10:00 AM PT
Session Concludes: 3:00 PM ET/2:00 PM CT/1:00 PM MT/12:00 PM PT
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 proper manner in preparing the Schedules L, M-1 and M-2.
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.
Disclaimer:
Webinars are interactive audio-visual presentation courses led by an NSTP Instructor. These courses include a pre-recorded session and may also include PowerPoints slides, a PDF textbook or both.
Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author,the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual's reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials and during the seminar presentation before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any particular device, technique or suggestion before recommending the same to a client or implementing the same on a client's or on his or her own behalf.
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