- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
This program explores the reporting requirements for Schedules L, M-1, M-2, M-3, and UTP of Form 1120. These schedules include a balance sheet, a reconciliation of income/loss per books with income per return, a net income/loss reconciliation that certain corporations must file, an analysis of unappropriated retained earnings per books, and an explanation of uncertain federal income tax positions.
This course is most appropriate for the professional with detailed knowledge in Form 1120 who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, the user should be able to:
accurately present the balance sheet on Schedule L and determine when Schedule L must be completed,
identify the purposes of Schedules M-1, M-2, and M-3 as well as the related requirements, and
recognize the purpose and structure of Schedule UTP.