Wiley Registered Tax Return Preparer Exam Review 2012
Wiley Registered Tax Return Preparer Exam ReviewIf you are a professional tax return preparer but not an attorney, Certified Public Accountant, or Enrolled Agent, you are now required to pass a competency test known as the Registered Tax Return Preparer (RTRP) exam administered by the IRS. The exam covers all of the basic tax laws and filing requirements that a return preparer needs to know to complete a 1040 series return and its associated forms and schedules. Your career as a preparer depends on passing the exam, and theWiley Registered Tax Return Preparer Exam Reviewhas been designed with this in mind. It is the perfect guide to help you pass.This study guide, complete with review questions, examples and explanations, and test-taking tips, will provide you with a solid foundation to pass the RTRP exam. Complete and comprehensive, this guide covers:Practices and ProceduresPenalties to be assessed by the IRS against a preparer for disregard of the rules and regulationsFurnishing a copy of a return to a taxpayerSafeguarding taxpayer informationTreatment of Income and AssetsTaxability of wages, salaries, tips, and other earningsReporting requirements of Social Security benefitsDetermination of basis of assetsDeductions and CreditsMedical and dental expensesTypes of interest and tax paymentsChild and dependent care creditOther TaxesAlternative Minimum TaxSelf-Employment TaxPreliminary Work and Collection of Taxpayer DataCollecting a taxpayer's filing information and determining their statusDetermine filing requirements, including extensions and amended returnsPersonal exemptions and dependentsCompletion of the Filing ProcessCheck return for completeness and accuracyTax withholding, payment and refund options, and estimated tax paymentsExplaining and reviewing the tax returnEthics and Circular 230Limits on practice by a registered tax return preparerPreparer's due diligence for accuracy of representations made to clients and the IRSSanctions that may be imposed under Circular 230Over a million Americans make money preparing taxes every year—and you can become one of them by passing the RTRP exam. Let theWiley Registered Tax Return Preparer Exam Reviewbe your guide.