Reviewing Individual Tax Returns: What Are You Missing? Webcast
December 21, 2026
Live Webcast
NASBA 8
Instructor
Wayne Wells
Instructor
Wayne
Wells
The sheer volume of IRC provisions affecting individual taxpayers presents a considerable challenge for CPAs and tax professionals. The review stage of preparing a return serves as a critical backstop to prevent errors in clients' returns. This case-study-based course addresses common mistakes practitioners make when preparing individual tax returns; these mistakes are often missed by review staff. Participants will review four sample returns and identify both errors and areas of opportunity. They'll also discover issues that may warrant additional client information and areas of tax law that require deeper analysis.
Learning Objectives
When you complete this course, you will be able to:
Determine the proper tax treatment for certain rental property activities.
Distinguish between hobbies and businesses.
Identify the warning signs that a client might have unreported income.
Determine proper tax return reporting of a like-kind exchange transaction.
Major Topics
Qualified business income deduction
Hobby losses
Self-employment health insurance
Business start-up costs
Depreciation
Schedule C issues
Like-kind exchanges
New deductions and provisions added by H.R. 1, commonly referred to as OBBBA, including the deduction for tipped income
CPE Credits Available
NASBA 8
4
Taxation (NYSED) (Taxation) - NASBA
4
Taxes (NASBA) (Taxation) - NASBA
Things to Know About This Course
Course Level
Intermediate
Prerequisites
Experience with individual tax return preparation
Advanced Preparation
Experience with individual tax return preparation
Intended Audience
CPA firm partners and managers tasked with reviewing individual tax returns
CPA firm staff tasked with preparing individual tax returns
CPA sole proprietors specializing in individual taxation
