Demystifying Form 1040: A Comprehensive Guide to Filing Your Taxes

Form 1040 is the standard U.S. individual income tax return form that taxpayers use to report their annual income and calculate their tax liability to the Internal Revenue Service (IRS).

This course is essential for the tax practitioner who wants to update their knowledge of Individual income tax form 1040 Preparation and Planning series, provides an overview of Form 1040 and 1040-SR, including the different sections of the forms and major schedules. It also covers in general, gross income, exclusions, tax liability, tax credits, and tax payments (including SECURE Act 2.0).

• Identify when an individual is required to file Form 1040.
  
• Explain what income and deductions are claimed on Form 1040-NR.
• Explain each section of Form 1040 and how it is correctly completed.
• Describe how to file a dual status tax return for an individual.
• Prepare Form 56
• Distinguish between income and expenses reported on the final Form 1040 or the estate Form 1041
• Summarize the treatment of the decedent’s medical expenses, HSA and credit carry forwards
• Discuss the concepts of tax year and accounting method
• Adjustments to gross income including IRAs, SEPs, student loan interest and self-employed health insurance

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• NASBA Sponsor: 146439
• IRS Course ID: PJGWS-T-00073-23-O
• Attendance Requirement:  Yes
• Session Duration: 2 Hours
• Case Studies and Live Q&A session with speaker
• PowerPoint presentation for reference 

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners  

Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Speaker Profile:

Warren M Bergstein, CPA, AEP, More than forty years of practice in tax planning, estate and trust administration and planning, personal financial planning and accounting have given Warren an extraordinarily deep understanding of taxation and personal finance. At his firm, Adelman, Katz & Mond LLP, his clients, who include primarily high net worth individuals, entrepreneurs and sole proprietors, benefit from his expertise in tax law, its applications and implications for individuals.

Warren is an adjunct professor of accounting and taxation at Long Island University, New Jersey City University, and Rutgers. He has spoken at the Institute of Management Accountants, both the New York and Long Island chapters of the Financial Planning Association, the New York State Society of CPAs, New York University, and others. In addition, he is an accomplished author, and has regularly contributed to publications like Marshall Loeb's Money Guide, Taxation for Accountants, and The CPA Journal. Warren has been very active in professional organizations, and has frequently been elected as president, board member or committee chair. Warren is a fan of local sports teams. He also likes to read biographies and books on current events. He and his wife, Susan, live in Langhorne, PA. They have two children, Sam and Robin, and a granddaughter, Reily.