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2023 Form 1120 Update and Review: Preparing Corporate Income Tax Returns

Your Course Price: N/A
CE Credits
Advanced Preparation
Course Level
Paul La Monaca CPA, MST
Course Description

IRS CPE : Tax Law Topics

CTEC CPE : Tax Law Topics 2

NASBA CPE : Taxes 2

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 the filing of IRS Form 1120. The course 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 2023 and beyond. The course discusses the Schedules L, M-1 and M-2.

Learning Objectives

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

  • 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.

  • Once your registration confirmation is emailed, due to the proprietary materials and content of orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
  • materials and presentations are intended to stimulate thought and discussion and to provide attendees 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 tax procedure, tax planning technique, 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 device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
  • materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
Testing Policy
  • require a test for CE. 3 attempts are allowed.
  • For AFTR courses, the test must be passed by midnight, December 31, 2024.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.