2012 Federal Tax Workbook Volume C: 1040 Issues

Description

Federal Tax Workbook: 1040 Issues is a reference manual provided to all participants of the Fall Tax School 1040 Issues seminar. The workbook is written and reviewed by tax experts from throughout the United States, and its content varies from year to year. The workbook is created with the needs of tax practitioners in mind and contains examples, problems, solutions, sample IRS forms, and applicable reference materials.

Also available for purchase: Federal Tax Workbook: Update and Ethics and Federal Tax Workbook: Entities and Advanced 1040 Issues

The Federal Tax Workbook is used by universities and associations from 15 states around the country. The Federal Tax Workbook is provided to participants of tax education programs sponsored by these universities and associations. For information about purchasing workbooks to use in your tax education programs, please contact us.

Chapters

• Communications With The IRS. This chapter will cover client representation, notices and notice codes, correspondence examinations, automated underreporter (AUR), penalty abatement, e-services, and the identity protection program.
• Investment Income. Topics include imputed interest including treatment of demand and term loans, state and local bond interest, corporate distributions, offshore asset reporting requirements, Schedule B overview, taxation of capital gains, and taxation of mutual funds and stocks.
• Schedule A. This chapter covers various Schedule A concerns including who should itemize, medical and dental expenses, taxes, interest expense, contributions, nonbusiness casualty and theft losses, employee business expenses, miscellaneous deductions, and nondeductible expenses.
• Schedule C. Topics covered include statutory employees, initial Schedule C questions, Part I: Income, and Part II: Expenses.
• Credits. This chapter will cover credits versus deductions, individual nonrefundable credits, partially refundable credits, refundable credits, and business credits.
• Employment Issues. This chapter will focus on employment issues such as employee or independent contractor, excess social security tax payments, receipt of property as compensation, legal expenses, legal awards and settlements, moving expenses, and taxation of fringe benefits.
• Travel, Meals, and Entertainment. This chapter will cover travel away from business tax home, deductible travel expenses, claiming business travel expenses, business meal expenses, taxpayers with special rules, and employee reimbursement plans.
• Office in Home. In this chapter we will look at home office deduction requirements, claiming the home office deduction, and special rules for rental to employer.

Updates

None at this time.