Modernizing the 1040 Review Process for Efficiency and Accuracy

  • CPA (US)
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

There has been much emphasis in recent years on streamlining the 1040 preparation process. With more firms scanning and auto-populating returns, and even outsourcing them, much of the front-end preparation can be done very quickly. On the backend of the process, delivery and signatures have also been automated.

Despite automation on the front end and back end of the tax workflow, partners and senior advisors are still spending dozens of hours during tax season on detailed 1040 reviews. Hours that could be more profitable if spent on higher-value client engagements. Reviewing 1040 returns is often a bottleneck in firms - one that is costly and can be a source of burnout.

In many cases, the review work is done by senior managers and partners whose time is expensive and should be focused on higher-level advisory conversations with clients. Further, how do you train preparers to become good reviewers?

With the help of this CE/CPE webinar, learn how to standardize your 1040 review process so that it results in:

  • Less time is required for the final review
  • Higher accuracy
  • A training system for new reviewers 

Learning Objectives

  • To identify the key elements of the 1040 review process that can be modernized for greater efficiency and accuracy.
  • To analyze the inefficiencies behind the legacy process and what it’s costing your firm.
  • To discuss how to establish standardization for the 1040 review portion of the tax workflow to provide greater value for clients and development for new reviewers.
  • To determine the opportunity cost of 1040 reviews in your firm.

Recommended For

  • This Online CE course is recommended for CPA Professionals, Accounting firms desiring to learn how to standardize your 1040 review process.

Who Should Attend?

  • Accounting Firm
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Guillermo Rodriguez, CPA (US)

Director, TaxExact, Inc.

Guillermo brings over 20 years of tax and accounting business management, information technology, and advisory experience to TaxExact. He has worked with hundreds of firms to design and implement solutions that have accelerated their transition to advisory services. Guillermo’s expertise in firm processes, technology, and automation goes beyond consulting. He engages directly with firms to understand their specific needs and goals, and then he makes it happen. When not working, Guillermo enjoys traveling abroad and dancing salsa.

About Company

TaxExact, Inc.

taxexact.com/

TaxExact, Inc. was founded in 2020 to transform the 1040 review process and help tax professionals gain time and tools to identify advisory opportunities.

TaxExact is the only tax verification tool on the market that transforms the review process and reduces staff burnout. Until now, the focus has largely been on automating the tax preparation process. This patent pending technology works seamlessly with your existing tax software to shorten the entire 1040 review process for tax professionals. 

TaxExact verifies the accuracy of every return, dramatically reduces review time, and develops staff to increase retention. With an intuitive user experience and built in workflow, you’ll also be able to identify key indicators in a return that can lead to advisory services.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.4

180 Ratings

Excellent

100

Very Good

59

Average

17

Poor

2

Terrible

2

ME

Mark Eckel, Accountant, CPA (US)

Jul 20th, 2022

Modern, up-to-date information on the 1040 process. Insightful, along with information on tools today to ease the burden of the process.

JM

Jennifer Mahood, EA

Jun 15th, 2022

Very interesting seminar with knowledgeable presenters. I can see how this new approach could be a money saver for tax preparers.

KL

Kevin Lamey, EA

Jun 15th, 2022

Very positive presentation. I had no idea this service is available

DS

Dale Scrimger, CPA (US)

Jul 19th, 2022

Great summarization of the information and real life examples!

DS

David Stillman, Accountant

Jul 19th, 2022

both instructors were the best of all courses i have taken

Modernizing the 1040 Review Process for Efficiency and Accuracy

FREE

1 Credit

Subject Area

Taxes

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