About this Course
Topics covered include:
Refresher on the preparation of corporate income tax returns;
Overview of the elements of form 1120;
Filing requirements;
Information to include on the return;
Requirements if the corporation is a personal service corporation (PSC);
Tax year requirements;
Method of accounting;
Schedule K.
Upon completing this course, you should be able to:
Determine both the nature of the corporate tax return and the role of the preparer in the preparation of the return;
Recognize key filing requirements, including extension options;
Identify the information required on the top of page 1 of Form 1120 as well as on Schedule K, page 3 of Form 1120;
Determine the implications of being a personal service corporation;
Access the options for and limitations on selecting an accounting method and tax year for the corporation.