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Corporate Income Tax Returns Form 1120 Update and Review

Course Price: $109.00
CPE Credits
November 16, 2021
Course Time
10:00 AM
Advanced Preparation
Some experience of preparation of Forms 1120 is helpful, but not required
Course Level
The participants should be familiar with business transactions and have a good knowledge of entity level accounting and tax issues as well as understand the separation of the owners from the entity.
Paul La Monaca CPA, MST

Course Description

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 filing IRS Form 1120. The course also 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 2021 and beyond. The course discusses the Schedule L, M-1 and M-2.

Learning Objectives

Upon completion of this course the Tax Professional will be able to:

* 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

Administration Policies: NSTP follows strict administrative policies
Late Registration
  • Registrations must be received no later than 7 days prior to the seminar date.
  • Registrations received after this date will be subject to a $35 late fee.
  • NSTP provides refunds to registrants up to 7 days prior to the date of the course. For those registrants canceling within 14 days prior to the date of the course NSTP will allow attendance at another seminar site. If there are extraordinary circumstances NSTP will allow the participant to attend a future education course. An administrative charge of $25 will be assessed if canceled. For more information regarding refund, cancellation and complaint policies, please contact our offices at 800-367-8130
  • NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is canceled, participants will be refunded 100% of their registration fee.
  • We do not accept walk-in attendees. Payment must be received in advance of the class. Classes may not be retaken without payment.
  • Seminar materials and seminar presentations are intended to stimulate thought and discussion and to provide attendees the useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any particular tax procedure, tax planning technique or device or suggestion or any of the tax consequences associated with them.
  • 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.
Attendance Policy
  • Only paid registrants are able to attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins. The seminar lunch is for paid registrants only and is included in the registration fee.