Wiley Tax Preparer ebook

Whether you're already a tax preparer or you'relooking to become one, you need a firm grasp of the tax concepts onwhich individual taxation is based. We created the Wiley TaxPreparer as a refresher for the experienced tax preparer, and as areadable guide for the less-experienced tax preparer. This timely guide is an essential tax resource providing youwith useful information on tax principles and filing requirementsthat a preparer must know to complete a 1040 series return andassociated schedules. You'll refer to it time and again, forinformation about: Practices and Procedures * Penalties to be assessed by the IRS against a preparer fordisregard 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 anddetermining their status * Determine filing requirements, including extensions and amendedreturns * Personal exemptions and dependents Completion of the Filing Process * Check return for completeness and accuracy * Tax withholding, payment and refund options, and estimated taxpayments * Explaining and reviewing the tax return Ethics and Circular 230 * Preparer's due diligence for accuracy of representationsmade 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 principlesbehind Form 1040, look no further. The Wiley Tax Preparer is themost accessible guide to understanding how complex tax laws affectindividual taxpayers.