How to Review Tax Returns original By Edward Mendlowitz, CPA, ABV, PFS, and Andrew D. Mendlowitz

201709.20
0

How to Review Tax Returns
The No-Hassle Super-Simplified Seven-Step Tax Return Review System. With illustrative examples, step-by-step guidance, and practice-ready checklists.

Reviewers are not born complete and ready to go, they must be developed.

Part of the problem has been that there has been no information or training specifically for reviewers, until now.

Learn how to speed workflows, eliminate bottlenecks, find and train the best person for the job, distinguish between content and issues reviews, and identify specific trouble spots.

Produce better returns, smarter staffers, happier clients, and more profit.

“Reviewing tax returns is a key part of tax preparation. It also is an area vulnerable to major bottlenecks and backlogs. Inevitably, firms have more preparers than reviewers. The latter are highly skilled professionals who are more difficult to train or find. Therefore, you must consider ways to reduce review time, even at the expense of adding preparer time.” – Ed Mendlowitz, CPA, author

“In this book Ed is offering original ideas and sage advice about the entire tax return process. Read it closely and adapt it to your practice. You will be happier, more relaxed and richer for doing so.” – Peter A. Weitsen, CPA, PFS, Partner, WithumSmith+Brown, PC

CONTENTS
CHAPTER 1: Nature of Tax Return Preparation
CHAPTER 2: Review Procedures = Quality Control
CHAPTER 3: Why Checklists Are Critical
– Nine truths about tax season management
CHAPTER 4: Content Review Versus Issue Review
CHAPTER 5: Effectiveness and Purpose of Review
– Three questions for you to consider when you decide on a method of reviewing returns
– Methods to reduce review time
– Seven best practices
CHAPTER 6: Reviewer’s Checklists
– Reviewer’s checklist for individual tax returns
– Reviewer’s checklist for business tax returns
– Top 12 Tax Return Preparation Errors
CHAPTER 7: Good Preparer Procedures Will Reduce Review Time
– Preparer’s pre-review procedural checklist
CHAPTER 8: Effective Self-Reviews Improve Efficiency
CHAPTER 9: Reviewing Outsourced Returns
– Eight typical errors to watch out for
CHAPTER 10: Review of Complicated Transactions
CHAPTER 11: Training and Assigning Reviewers
– The 10-question reviewer qualification test
CHAPTER 12: The MBWA Big Picture
CHAPTER 13: Accountability
– Post Tax Season Performance Metrics
– Eight more ways to evaluate staff and tax season
CHAPTER 14: Administrative Procedures
CHAPTER 15: Reviewers’ Last Thing
CHAPTER 16: Partner Review When Signing
CHAPTER 17: Post Tax Season Assessment and Follow-up
– Tax season follow up sheet
CHAPTER 18: Ed’s Super-Simplified Seven-Step Tax Return Review System

APPENDIX
Ed’s Excel® method
Excel® tax comparison worksheets as a review, training, planning, and user-friendly tool
What it is
Using the Excel® worksheets in the review process
Training
Planning
Cross-selling opportunities
A rebuttal to the skeptics
Seven Sample Excel® Worksheets
Sample 1. Basic Worksheet (page 1)
Sample 1. Basic Worksheets (page 2)
Sample 2 (a). K-1 Schedules – Interest
Sample 2 (b). K-1 Schedules – Dividends
Sample 3. 1099 Interest and Dividend Detail
Sample 4. Schedule C Multiyear Comparison
Sample 5. Schedule E Rental Property Multiyear Comparison
Sample 6. 1099B Reconciliation Worksheet
Sample 7. Tax Payments Worksheet
Answers to the 10-Question Reviewer Qualification Test
10 more issues that you can test

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