Wiley Tax Preparer : A Guide to Form 1040

Whether you’re already a tax preparer or you’re looking to become one, you need a firm grasp of the tax concepts on which individual taxation is based. We created the Wiley Tax Preparer as a refresher for the experienced tax preparer, and as a readable guide for the less-experienced tax preparer.

This timely guide is an essential tax resource providing you with useful information on tax principles and filing requirements that a preparer must know to complete a 1040 series return and associated schedules. You’ll refer to it time and again, for information about:

Practices and Procedures

• Penalties to be assessed by the IRS against a preparer for disregard 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 and determining their status
• Determine filing requirements, including extensions and amended returns
• Personal exemptions and dependents

Completion of the Filing Process

• Check return for completeness and accuracy
• Tax withholding, payment and refund options, and estimated tax payments
• Explaining and reviewing the tax return

Ethics and Circular 230

• Preparer’s due diligence for accuracy of representations made 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 principles behind Form 1040, look no further. The Wiley Tax Preparer is the most accessible guide to understanding how complex tax laws affect individual taxpayers.

The Tax Institute at H&R Block is the company's independent research division, providing expert tax assistance and interpretation of tax law. The Tax Institute combines H&R Block's world-class training experience with the knowledge of the company's credentialed tax experts to create a unique resource based on extensive resources from nearly 60 years in business, 550 million tax returns prepared, and more than 100,000 tax professionals trained each year. For more information, visit www.hrblock.com/ why-hr-block/the-tax-institute.html