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The Form 1040: Individual Tax Return - Basic Overview

Your Complete 2021 Guide for Individual Tax Return

  • Price

    $49

  • Total Credits

    4 CPE

The Form 1040: Individual Tax Return - Basic Overview

Overview

IRS Form 1040 is the basic federal income tax form that almost every taxpayer in the U.S. must use. There are two main exceptions: non-resident aliens use Form 1040-NR and seniors have the option to file Form 1040-SR, which is nearly identical but has language tailored to taxpayers aged 65 and older. Certain individuals also don’t need to file a tax return, such as some single filers whose earned income is less than the standard deduction.

Constant changes to the tax code make Form 1040 preparation an ongoing adventure. This virtual CPE conference will give you the confidence to:

  • Prepare tax forms, schedules and worksheets using the most recent forms available
  • Gain a working knowledge of tax law
  • Understand recent developments affecting individual tax returns

This virtual CE event provides a comprehensive understanding of Form 1040 complexities with regard to income items. It is essential for the tax practitioner who wants to update their knowledge of individual income taxation!

Completed

Continuing Education Credits

The sessions of the conference qualifies for

  • 4 CE Credit for all AFSP
  • 4 CPE Credit of Taxes for CPA (US)
  • 4 CE Credit for all EA
  • 4 CE Credit for all Oregon Tax Preparer
  • 4 CE Credit for all CTEC
  • 4 CE Credit for all Maryland Tax Preparer

Speakers

Megan Angle

Megan Angle

Partner , Porte Brown

Megan Angle is a Partner with Porte Brown’s not-for-profit and audit & review services teams in the Elk Grove Village office. She has more than twelve years of experience providing tax consulting, accounting, and audit services for individuals, nonprofit organizations, and closely held businesses. She co-leads Porte Brown’s Not-for-Profit team and is also an integral leader of Porte Brown’s Audit Services team. Since the pandemic hit, Angle has been heavily involved with assisting clients with the ins and outs of the Paycheck Protection Program (PPP) and related COVID-19 business stimulus programs. Megan is the Chair of the Illinois CPA Society’s Not for Profit Committee, Board President for the Tri-Town YMCA and is a board member with her local chamber of commerce among other involvements. Prior to joining Porte Brown, Angle had 4 years of industry experience working for a Not-for-Profit organization while completing her college education. As such, she brings a unique perspective to her work.  Megan lives in the Chicagoland suburbs with her husband and two children.
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Session Details

Megan Angle
Megan Angle

Date

Sep 23rd, 2021

Time

12:00 PM – 02:00 PM
2 Credits

1040 Returns: Overview of the return, filing statuses, due dates etc.

Form 1040 is the standard Internal Revenue Service (IRS) form that individual taxpayers use to file their annual income tax returns. The form contains sections that require taxpayers to disclose their taxable income for the year to determine whether additional taxes are owed or whether the filer will receive a tax refund.

Major topics covered in this CE session:

  • Form 1040 US Individual Tax return
  • Types of Form 1040

Learning Objectives

  • To describe the overview of the return
  • To determine the filing status
  • To discuss the due dates
  • 2 CE credit of for all AFSP
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of for all EA ( Course No. GEHNZ-T-00669-21-O )
  • 2 CE credit of for all Oregon Tax Preparer ( Course No. GEHNZ-T-00669-21-O )
  • 2 CE credit of for all CTEC ( Course No. 6273-CE-0631 )
  • 2 CE credit of for all Maryland Tax Preparer ( Course No. GEHNZ-T-00669-21-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Megan Angle
Megan Angle

Date

Sep 23rd, 2021

Time

02:00 PM – 04:00 PM
2 Credits

W-2s, 1099s etc.

Why file Form 1099 and Form W-2? It’s the law – and the IRS is increasing enforcement in this area.

Who must issue 1099? Any business – regardless of its structure (sole proprietor, corporation, etc) that makes "reportable transactions" during the year is requires to issue 1099 to the recipient of income and to the IRS.

In this CE session of this virtual CE conference, we will review the current law and regulations regarding the filing of Forms W-2 and 1099 and the speaker will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.

The requirements are always changing, and answers are seldom clear-cut. This CPE session will de-mystify some of the tricky areas relating to Form 1099 and Form W-2

Major topics covered in this online CPE/CE session:

  • What constitutes a reportable transaction?
  • What are the best practices for handling our information reporting obligations?
  • How can we minimize the risk of improper exemption claims by our payees and vendors? 

Learning Objectives

  • To identify the rules requiring W-2 documentation and 1099 reporting for various types of forms.
  • To recognize the rules and keep your company in compliance.
  • To identify that your records are correct and will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit.
  • 2 CE credit of for all AFSP
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of for all EA ( Course No. GEHNZ-T-00673-21-O )
  • 2 CE credit of for all Oregon Tax Preparer ( Course No. GEHNZ-T-00673-21-O )
  • 2 CE credit of for all CTEC ( Course No. 6273-CE-0635 )
  • 2 CE credit of for all Maryland Tax Preparer ( Course No. GEHNZ-T-00673-21-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Frequently Asked Questions

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The Specific Takeaways and the purpose of this event is mentioned in the ‘Overview’ and ‘Session Details’. Additionally, by attending a Live Virtual Event you can experience the interactivity equivalent to an in-person conference without having to leave your screens or risk your lives especially post pandemic situations. Nevertheless, bulk CPE/CE is an icing on the cake.

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There is an official break scheduled for this workshop/events. Other than the scheduled break, the in-session breaks shall be available at discretion of the speaker.

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Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download

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Yes, each live virtual conference/workshop shall be recorded and the recording of the same can be made available to on request. However, the recording shall not be eligible for continuing education credits.

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