Form 1065 Return Review: Essential Procedures You Can't Overlook (AM)

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Most review techniques developed by professionals are self-taught and fine-tuned via experience. Yet how does one start? The purpose of this course is to give both new and seasoned reviewers additional and advanced procedures via a multitude of checklists to more thoroughly review partnership tax returns. Its emphasis is not planning; rather, it is to develop a strategy to properly review a return effectively and thoroughly. The course includes dozens of "practice tips for new reviewers" and is updated for impacts of newly enacted legislation.


Experience in preparing Form 1065, reviewing diagnostics, and preparing workpapers


  • Expand the process involved in reviewing applicable tax returns Identify the most common areas that result in errors Document a review, including consideration of risk management


  • What are common errors preparers make and what are the areas generating malpractice claims? Initial administrative groundwork Avoiding "willful blindness" Why use 704(b) to maintain capital accounts? 704(c) regulations for preventing the shifting of tax consequences among partners or members The importance of Schedule M-1 Allocating recourse, nonrecourse, and qualified nonrecourse debt A review of 754 step-up in basis rules TCJA cleans up the basis treatment of charitable contributions and foreign taxes paid First-time client issues requiring extra scrutiny Multiple checklists of efficient procedures to identify potential issues on a 1065 return * Listing of schedules for staff to prepare to make a review easier When can seemingly separately stated Schedule K items actually be trade or business items to report on Form 1065, page 1?

Event Code:


4 CPE Credits
Tax: 4 Credits


Member Price:
Non-member Price:

Online registration for this course is currently closed. To register for this course, please call us at (800) 292-1754.

Wednesday, December 4th

8:00am to 11:30am
(Check-In 7:30am)

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Gratzer Education Center

1735 Alliant Ave.
Louisville, KY 40299

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Donald Cooley