Wiley Tax Preparer – A Guide to Form 1040

Name: Wiley Tax Preparer – A Guide to Form 1040
Author: . The Tax Institu

A Guide to Form 1040

Paperback Engels 2013 9781118072622

70,20

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Samenvatting

Whether you re already a tax preparer or you re looking to become one, you need a firm grasp of the tax concepts on which individual taxation is based. We created the Wiley Tax Preparer as a refresher for the experienced tax preparer, and as a readable guide for the less–experienced tax preparer.

This timely guide is an essential tax resource providing you with useful information on tax principles and filing requirements that a preparer must know to complete a 1040 series return and associated schedules. You ll refer to it time and again, for information about:

Practices and Procedures

Penalties to be assessed by the IRS against a preparer for disregard of the rules and regulations
Furnishing a copy of a return to a taxpayer
Safeguarding taxpayer information

Treatment of Income and Assets

Taxability of wages, salaries, tips, and other earnings
Reporting requirements of Social Security benefits
Determination of basis of assets

Deductions and Credits

Medical and dental expenses
Types of interest and tax payments
Child and dependent care credit

Other Taxes

Alternative Minimum Tax
Self–Employment Tax

Preliminary Work and Collection of Taxpayer Data

Collecting a taxpayer s filing information and determining their status
Determine filing requirements, including extensions and amended returns
Personal exemptions and dependents

Completion of the Filing Process

Check return for completeness and accuracy
Tax withholding, payment and refund options, and estimated tax payments
Explaining and reviewing the tax return

Ethics and Circular 230

Preparer s due diligence for accuracy of representations made to clients and the IRS
Sanctions that may be imposed under Circular 230
Rules governing authority to practice before the IRS

If you re looking for a practical guide to the principles behind Form 1040, look no further. The Wiley Tax Preparer is the most accessible guide to understanding how complex tax laws affect individual taxpayers.

Specificaties

ISBN13:9781118072622

Taal:Engels

Bindwijze:paperback

Aantal pagina's:576

Uitgever:John Wiley & Sons

Hoofdrubriek:Financieel management, Financieel management

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Inhoudsopgave

Part 1 The Income Tax Return 1 
Chapter 1 Filing Information 3
Chapter 2 Filing Status 13
Chapter 3 Personal and Dependency Exemptions 25
Part 2 Income and Assets 41 
Chapter 4 Wages, Salaries, and Other Earnings 43
Chapter 5 Interest Income 57
Chapter 6 Dividends and Other Corporate Distributions 69
Chapter 7 Rental Income and Expenses 77
Chapter 8 Retirement Plans, Pensions, and Annuities 93
Chapter 9 Social Security and Equivalent Railroad Retirement Bene ts 109
Chapter 10 Other Types of Income 119
Chapter 11 Self–Employment Activities 133
Chapter 12 Basis of Property 153
Chapter 13 Sale of Property 163
Chapter 14 Sale of Home 181
Chapter 15 IRA and HSA Contributions 191
Chapter 16 Education–Related Adjustments 201
Chapter 17 Business–Related Adjustments 209
Chapter 18 Alimony 221
Part 3 Deductions and Credits 229 
Chapter 19 Standard and Itemized Deductions 231
Chapter 20 Medical and Dental Expenses 237
Chapter 21 Tax Payments 247
Chapter 22 Interest Payments 255
Chapter 23 Charitable Contributions 267
Chapter 24 Nonbusiness Casualty and Theft Losses 281
Chapter 25 Miscellaneous Itemized Deductions 293
Chapter 26 Employee Business Expenses 303
Chapter 27 Earned Income Credit 321
Chapter 28 Child and Dependent Care Credit 339
Chapter 29 Child Tax Credit 347
Chapter 30 Education Credits 353
Chapter 31 Other Tax Credits 361
Part 4 Other Taxes 375 
Chapter 32 Figuring the Regular Tax 377
Chapter 33 The Alternative Minimum Tax 387
Chapter 34 The Kiddie Tax 397
Chapter 35 Other Taxes 407
Part 5 Completion of the Filing Process 421 
Chapter 36 Tax Payments and Refund Options 423
Chapter 37 Completing and Filing the Return 437
Part 6 Practices and Procedures 447 
Chapter 38 Preparer Responsibilities and Penalties 449
Part 7 Ethics and Circular 230 461 
Chapter 39 Rules Governing Authority to Practice before the IRS 463
Chapter 40 Duties and Restrictions Relating to Practice before the IRS 471
Chapter 41 Sanctions for Violating Circular 230 485
Index