Accuracy & Continuity on Tax Returns

Course Description:

In this course, the content focuses on illustrating the steps necessary to comply with due diligence standards. The tax preparer must not only verify accuracy on the current year return, but should also review the prior year return for figures related to carryovers and depreciation. In addition, the course content touches on situations that involve interest and dividend income, RMDs, rental income, and short-and long-term capital gains. Finally, the course provides a brief discussion of basis determination and preparer contingency fees.

Learning Objectives:

• Explain the importance of reviewing the prior year's return for accuracy, comparison, and carryovers for the current year's return
• Recognize items that will affect future returns (e.g., carryovers, depreciation)
• Identify different types of income, including interest (e.g., Schedule B, 1099-INT), dividends (e.g., Schedule B, 1099-DIV), and rental income and expenses (e.g., Schedule E)
• Explain required minimum distributions from retirement plans
• Differentiate between short-term and long-term capital gains and losses (e.g., Schedule D, Form 8949, Form 1099-B)
• Calculate the basis of assets (e.g., purchased, gifted, or inherited)
• Identify applicable rules regarding fees, including contingent fees

Duration: 100 minutes
Who Should Attend: All tax practitioners advising individual clients
Course Level: Basic - story-based
Prerequisite: None
Advance Preparation: None
Delivery Method: Self Study - Internet Based
IRS CE: UBWMF-T-00326-25-S
CTEC: 6209-CE-00238
NASBA: 116347

Expiration: In accordance with NASBA standards, access to this course will terminate one year from the date of purchase. Incomplete courses will no longer be accessible beyond the one year deadline.

Last Modified: 10/9/2025