The Form 1040 is the starting form for personal/individual Federal income tax returns filed with the IRS in the United States. Form 1040 consists of two full pages, plus up to 11 attachments called "schedules".
The 1040 Workshop is designed for persons with no previous experience in the tax field or those with some experience who wish to get a more thorough training in all pertinent phases of federal income tax preparation for individuals.
This is a traditional instructor-led classroom course taught by seasoned tax professional:
Mark Burch, Enrolled Agent
Will Wallace, Enrolled Agent
Practical applications and illustrations are used to systematically explore tax deferral, reduction, and elimination opportunities accompanying return preparation.
Upon successful completion of the 1040 Workshop, practitioner will be able to:
• Use knowledge of the I.R.S. tax code to prepare individual federal tax returns.
• Identify and apply appropriate exclusions on an individual tax return.
• Identify and apply savings determined by legitimate tax deductions, credits, and depreciation.
• Understand and apply knowledge to calculate tax owed on individual returns.
Here is a peek at the topics covered in our course:
• Filing requirements and filing status
• Exemptions and dependents
• Income, such as employee compensation, interest, dividends, alimony, retirement distributions, unemployment compensation, Social Security benefits, and other income
• Capital gains and losses
• Adjustments to income, such as moving expenses, the IRA deduction, and education benefits
• Standard deduction and itemized deductions
• Credits, such as the Child and Dependent Care Credit, Education Credits, Saver's Credit, Child Tax Credit, and Earned Income Tax Credit
• Filing a return, including electronic filing, refund and payment options, estimated tax payments, and amended returns
• Practices, procedures, and ethics