Reviewing S Corporation Tax Returns: What Are You Missing?
Reviewing S corporation returns CPE training helps tax professionals strengthen their review skills by identifying common errors, omissions, and reporting issues in S corporation tax returns through a practical, case-based approach.
CPE Credit
5.0 Hours
DELIVERY METHOD
Self-Study (On Demand)
LEVEL
Intermediate
PREREQUISITES
Working knowledge of S corporation taxation recommended
PRICING
$119.50 per year
Course Description
S corporation tax returns present unique review challenges due to shareholder basis limitations, compensation requirements, distribution rules, and pass-through reporting complexities. Even when returns are prepared using tax software, errors or inconsistencies can arise that require a trained reviewer’s attention.
This course focuses on reviewing S corporation tax returns with an emphasis on identifying problem areas that commonly affect accuracy and compliance. Using practical review scenarios, participants examine how income, deductions, shareholder basis, distributions, and payroll considerations are reported and how mistakes in these areas can impact shareholders’ tax outcomes.
The course reinforces a structured review approach designed to help tax professionals detect errors, identify areas for improvement, and recognize opportunities to educate or advise clients during the review process.
What You’ll Learn
By the end of this course, you will be able to:
- Identify common errors and omissions in S corporation tax returns
- Review shareholder basis calculations for accuracy and consistency
- Evaluate reasonable compensation and payroll reporting issues
- Analyze distributions and their impact on shareholder basis
- Review Schedule K-1 reporting for completeness and accuracy
- Identify compliance risks and follow-up items during S corporation return review
Who This Course Is For
This course is designed for:
- CPAs and tax professionals who prepare or review S corporation tax returns
- Firm reviewers responsible for quality control of S corporation engagements
- Tax staff seeking to strengthen S corporation return review skills
- Practitioners advising closely held business owners operating as S corporations
Key Topics Covered
Key topics addressed in this course include:
- Case-based review of S corporation tax returns
- Reviewing Form 1120-S for completeness and accuracy
- Analysis of Schedules K and K-1 reporting
- Reviewing and reconciling Schedule M-1 and Schedule M-2
- Shareholder basis calculations and limitations
- Reasonable compensation and payroll reporting considerations
- Distributions and their effect on shareholder basis
- Built-in gains and other S corporation-specific tax issues
- Identifying common errors, omissions, and compliance risks in S corporation returns
Why This Course Matters
S corporations are widely used by closely held businesses, and errors in basis tracking, compensation, or distributions can lead to significant tax consequences for shareholders. A thorough review process helps reduce compliance risk, improve accuracy, and enhance the quality of client service.
This course equips tax professionals with practical review techniques to confidently evaluate S corporation tax returns and address issues confidently during the review process. For additional guidance on S corporation tax rules and reporting requirements, practitioners may refer to resources published by the Internal Revenue Service (IRS).
Explore additional CPE courses in taxes available through NINJA CPE.
Pricing & Access
$119.50 per year — Unlimited CPE Access
When you enroll, you receive full access to all courses in our catalog for one full year, including this course and every other available offering.
Unlike many CPE providers, we do not charge by the credit hour and we do not impose course expiration dates. Once you’re enrolled:
- All courses are included — no per-course or per-credit fees
- Your access lasts for a full year from your enrollment date
- Your completed course certificates remain available in your portal
- You can complete courses at your own pace, on your own schedule
This single annual enrollment gives you the flexibility to earn CPE hours when you need them — without worrying about expiring credits or additional costs.
Frequently Asked Questions
Is this course NASBA-compliant?
Yes. This course meets NASBA CPE requirements.
How is the course delivered?
On-demand, self-study format with quizzes for knowledge checks.
Can I complete this course at my own pace?
Yes. You may start, stop, and resume the course as needed.
