PPC's 1120 Deskbook

See also the Checkpoint Focused Tax Return Compliance package, which includes the online version of this PPC deskbook.

Given the IRS's emphasis on practitioner due diligence, proper preparation of your clients' returns is more important than ever. With the key issues, examples tied to filled-in forms, checklists, worksheets, and other quality control tools you'll find in PPC's 1120 Deskbook, you and your staff can solve the difficult, unclear, or misunderstood issues encountered when preparing Form 1120. The Deskbook points out elections and other tax-saving opportunities to take advantage of while preparing the return; plus, the tax planning roadmap highlights planning opportunities that you and your staff can pursue after busy season.

To provide the best preparation services for your clients, and to enable you and your staff to work efficiently and profitably, PPC's 1120 Deskbook provides:

• A quality control template that guides you through a series of return preparation checklists, computational worksheets, sample elections and other practice tools that promote due diligence in the preparation and review of corporate returns.
• Guidance on preparing accurate Forms 1120, 1120X, 1139, and related forms and schedules — including Schedules M-3 and UTP — with more than 75 completed forms, worksheets, and return statements.
• Explanations of tax laws and regulations, including examples and recent court cases to provide a complete understanding of complex corporate tax issues.

The Deskbook provides valuable tax practice tools, including a tax return preparation engagement letter, long and short form client organizers, an overall due diligence review checklist, long and short form return preparation checklists, and first year and final year return preparation checklists. In addition, the tax planning roadmap provides a quick and easy way of identifying post-busy season planning opportunities by reviewing your clients' completed tax returns.

• 1120 Deskbook
  • INTRODUCTORY MATERIAL
  • Personal Service Corporations
    • Chapter 1: Personal Service Corporations
  • Tax Accounting Periods and Methods
    • Chapter 2: Tax Years
    • Chapter 3: Accounting Methods
    • Chapter 4: Inventory and Cost of Goods Sold
  • Income
    • Chapter 5: Dividends and the Dividends Received Deduction
    • Chapter 6: Sales/Exchanges of Capital Assets and Business Property
    • Chapter 7: Other Income Issues
  • PAL and At-risk Limits
    • Chapter 8: The Passive Activity Loss (PAL) and At-risk Rules
  • Deductions
    • Chapter 9: Compensation
    • Chapter 10: Bad Debts and Debt Modifications
    • Chapter 11: Taxes and Interest
    • Chapter 12: Charitable Contributions
  • Depreciation and Amortization
    • Chapter 13: Depreciation
    • Chapter 14: Amortization
    • Chapter 15: Pension and Profit-sharing Plans and Other Benefits
    • Chapter 16: Travel, Meals, Entertainment, Club Dues, Gifts, Directors' Fees, Autos, and Airplanes
  • NOLs
    • Chapter 17: Net Operating Losses
  • Taxes, Credits, and Payments
    • Chapter 18: Alternative Minimum Tax
    • Chapter 19: Personal Holding Company Tax
    • Chapter 20: Accumulated Earnings Tax
    • Chapter 21: Credits
    • Chapter 22: Tax Payments
  • Schedules M-1/M-3 and M-2
    • Chapter 23: Schedules M-1 and M-3 (Reconciling Book to Tax Income) and Schedule UTP (Uncertain Tax Positions)
    • Chapter 24: Balance Sheet (Schedule L), Retained Earnings (Schedule M-2), and Earnings and Profits
  • Commonly Owned Corporations
    • Chapter 25: Controlled Groups
    • Chapter 26: Consolidated Returns
  • Related Party Rules
    • Chapter 27: Related Party Rules and Shareholder/Corporation Transactions
  • Capital Issues
    • Chapter 28: Stock Purchases Treated as Asset Acquisitions (Sections 336 and 338)
    • Chapter 29: Limitations Due to Ownership Changes (the Section 382, 383, and 384 Rules)
    • Chapter 30: Sections 1244 and 1202 Stock
  • Incorporation and Liquidation
    • Chapter 31: Incorporation
    • Chapter 32: Liquidation
  • Filing the Return
    • Chapter 33: Filing Form 1120
    • Chapter 34: Amended Returns, Claims for Refunds, and Assessments of Tax
  • QUICK REFERENCE TABLES
    • CORPORATE TAX RATES
    • TRAVEL & ENTERTAINMENT
    • INTEREST
    • LIFE INSURANCE
    • PENALTIES
    • STATUTE OF LIMITATIONS
    • MISCELLANEOUS
  • CHECKLISTS
    • RETURN PREPARATION
    • INCORPORATION, CAPITALIZATION, AND LIQUIDATION
    • ACCOUNTING METHODS AND PERIODS
    • EMPLOYMENT AND COMPENSATION
    • OTHER TECHNICAL ISSUES
    • MISCELLANEOUS
  • DEPRECIATION TABLES
    • RECOVERY PERIODS
    • SUMMARIES
    • MACRS PERSONAL PROPERTY
    • MACRS REAL PROPERTY
    • ADS PERSONAL PROPERTY
    • ADS REAL PROPERTY
    • PRICE-BASED INCOME INCLUSIONS FOR AUTOS
    • AUTOS AND OTHER LISTED PROPERTY
  • ELECTIONS
    • ACCOUNTING METHODS
    • NOT USED
    • AMORTIZATION
    • CONSOLIDATED RETURNS AND CONTROLLED GROUPS
    • DEPRECIATION
    • DISCHARGE OF INDEBTEDNESS
    • DIVIDENDS
    • NET OPERATING LOSSES
    • PASSIVE ACTIVITY LOSSES
    • SECTION 338
    • MISCELLANEOUS
    • UNICAP
  • STATEMENTS, CONSENTS, AND DISCLOSURES
    • PERSONAL HOLDING COMPANY TAXES
    • CONTROLLED GROUPS AND CONSOLIDATED RETURNS
    • SECTION 351
    • SECTION 1244
    • MISCELLANEOUS
  • WORKSHEETS
    • ACCUMULATED EARNINGS AND PERSONAL HOLDING COMPANY TAXES
    • ALTERNATIVE MINIMUM TAX AND MINIMUM TAX CREDIT
    • CARRYOVERS
    • DEPRECIATION, REPAIRS AND IMPROVEMENTS, AND AMORTIZATION
    • INSTALLMENT SALES
    • NET OPERATING LOSSES
    • ACCOUNTING METHOD ADJUSTMENTS
    • RECAPTURE
    • SCHEDULE M-1 AND EARNINGS AND PROFITS
    • MISCELLANEOUS
  • OTHER PRACTICE AIDS
    • PRACTICE AIDS
    • PRACTICE MANAGEMENT
  • Roadmap to C Corporation Tax Planning
  • INDEX
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• List of Substantive Changes and Additions View