This is a deduction that rolls year to year until the taxpayer qualifies to be able to use the deduction.
What is a Carryover.
100
This document is not considered a workpaper, but its outcomes should generally be reflected within a workpaper.
What are Team Notes Without Open Items.
100
This document includes terms and conditions about the work we will perform on behalf of the client.
What is Engagement Letter.
100
This document provides guidance, client history, pitfalls to avoid, tax positions and current year actions.
What are TRINS (Tax Return Issue Notes).
100
Two web-based systems where your project time should be recorded on a daily basis.
What is PE (Practice Engine) and FF (FirmFlow).
200
This is a file that is required to be embedded within the tax return.
What is an Attachment.
200
If you did not clear one of these, then the tax return should generally not be sent back to the reviewer.
What is a Review Comment.
200
A Standard Organizer set of pages that helps the taxpayer, and us, determine what taxable events occurred in the tax year.
What is the 4-Page Questionnaire.
200
This document should be one of the first and last documents to review for any tax return project.
What are TRINS.
200
If all the planets are in alignment, it should be this many days from Ready to Prepare to Ready for Review.
What is 5 Days.
300
This tax return schedule is one of the most common schedules for our clients and we should always make sure that this schedule's proceeds equal the proceeds of the 1099-B.
What is the Schedule D.
300
A type of review that involves discussion and explanations.
What is a Collaborative Review.
300
This is a common acronym to denote the document was received from the client.
What is PBC (Provided By Client).
300
If a TRIN is confusing, you should discuss the TRIN with this person before moving forward with tax preparation.
Who is the Senior/Manager.
300
The general guideline for "spinning wheels".
What is 15 minutes.
400
If you don't review and clear the items presented from this analysis, the tax return may not be able to be e-filed.
What are Diagnostics.
400
A just-printed copy that may indicate to Senior Tax Staff that a self-review was not conducted.
What is a "Hot" tax return.
400
This assessment determines whether we have received enough data to begin the process of preparing the tax return.
What is Quick Assessment.
400
They make the list and you need to check it twice.
Who are Reviewers.
400
This discrete guideline is an estimate that helps leadership plan overall capacity and profitability of the firm.
What is The (Project) Budget.
500
These well-documented items should always agree to the reporting on the tax return.
What are Workpapers.
500
This type of review is Top-Level and should not be a detailed review.
What is Final Review.
500
A type of meeting that generally occurs prior to preparation of more complex tax returns.
What is a Touch-Base Meeting.
500
You might find an explanation about the client's HTKO Adjustment in this document.
What are TRINS.
500
No, you won't be terminated if you exceed this guideline.