168 | OSCPA Live | November 28
Reviewing Partnership Tax Returns: What Are You Missing?
Monday, November 28, 2022 8:30am - 12:00pm
The partnership section of the Internal Revenue Code is arguably one of the most difficult sections to comprehend. That complexity, and the reliability of tax software to properly handle it, can create many issues for you and your staff when processing you client's LLC and partnership tax returns. Join us as we discuss the common errors practitioners make on partnership tax returns that are often missed by review staff. The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed including income, deductions, K-1 reporting, and more! This course follows a highly illustrative case study format to increase participant comprehension and retention.
Virtual Option: Can't join us in person? Join us online by signing up for the virtual seminar here!
When you complete this course you will be able to:
- Identify common mistakes made on partnership tax returns.
- Determine strategies to avoid making mistakes on partnership tax returns.
- Cecil Nazareth (view bio)
CPAs working with clients requiring expertise in partnership taxation for the current tax season
Common errors made involving the following tax forms:
- Form 1065
- Schedules K and K-1
- Schedules M-1 and M-2
- Form 4562
- Form 4797
- And More!
Cecil Nazareth, CPA, MBA, ACA is a partner with IFRS Partners, a small firm in New York City which specializes in IFRS Education, training, consulting and conversion. Clients include CPA firms and some SMEs mainly subsidiaries of foreign parents. Cecil is an Indian Chartered Accountant and a US CPA and understands the differences between IFRS and US GAAP having practiced in both arenas. He spoke at the Diamond Jubilee of Indian Chartered Accountants of India (ICAI) on the role of a Global accountant and IFRS. He also shared the stage with an SEC representative and lead Big 4 partner advising the Chinese Govt. on IFRS at a recent Asian American conference. He has conducted several IFRS training sessions including sessions for the ICAI and the Bombay stock exchange. Cecil was the Director of AICPA's Internal Audit and Strategy. In that key role he worked on the AICPA overall strategic goals and organizational development. He worked closely with the CEO and developed and implemented an Executive Performance Measurement system and Balanced Score Card. Cecil pioneered the ISO 9001:2000 Quality program at the AICPA and led it to becoming the first professional organization certified in the United States. Previously Cecil worked with AICPA's SEC Practice Section reviewing Technical issues peer reviews of several large CPA firms performing SEC related work. Before joining the AICPA, Cecil was an Audit supervisor at Ernst and Young specializing in the Financial service industry. His international experience includes the practice in the Middle East and India. He has an MBA in finance from Fordham University and Information Technology from Columbia University in NYC.