Given the IRS's interest in examining the returns of S corporations and their shareholders, practitioner due diligence and proper preparation of your clients' returns are more important than ever. With the key issues, examples, filled-in Schedule K-1s and other forms, checklists, worksheets, and other quality control tools in the Deskbook, you and your staff can solve the difficult or unclear issues encountered when preparing Form1120-S and the related forms and schedules, as well as Forms 2553 (Selection form) and 8869 (QSub election form). The Deskbook points out elections and other tax-saving opportunities while preparing the return; plus, the tax planning roadmaps highlight planning opportunities that you and your staff can pursue after busy season.
The Deskbook includes valuable tax practice tools, including a tax return preparation engagement letter, client organizer, due diligence checklist, long and short form return preparation checklists, and first year and final year return preparation checklists. In addition, the tax planning roadmaps provide a quick and easy way of identifying post-busy season planning opportunities by reviewing your clients’ completed tax returns.