Tax Prep Cheat sheets?

This will be my first season, so I'm trying to get all my tax knowledge and resources organized. I've been hired with one of the big ones, so they'll have a ton of resources I'm sure. I was wondering if anyone here had any cool and useful cheat sheets, charts, etc they would like to share for us new people

Usually large firms have checklists that are not only available to you, but required to be used per their policy. Despite that possibility, I feel it is better for your growth if you think of your own list vs. obtaining one from anyone else. My advice is to start working on a few mock returns in each type you'll work on...104's, 1041's, 11202's etc.

As you prepare these mock returns, start a list of data you would expect from a client. Even if your firm does have a checklist they require you to use, this process I mention will help you train your brain to recognize what data you would need. It will also help you efficiently see what missing data points a client does not provide you upon initial review of their data.

The IRS forms and publications often have handy flow charts or tables to help with collecting facts and applying the law. Start with Pub 17 (they moved a lot of redundant material out of Pub 17 a few years ago, but there are still pointers to the other pubs where appropriate).

As a first year, you need to nail down filing status, dependents, and certain credits (EIC, CTC). The Paid Preparer Due Diligence form is one you should pay special attention to.

Lastly, probably the most important thing you can do prior to preparing current year return is to re-create the prior year return (if not prepared in your shop) in your software. Having to "reverse engineer" a return will uncover topics where you may need to spend more time, plus it's more likely that carryovers will be handled correctly.

The IRS forms and publications often have handy flow charts or tables to help with collecting facts and applying the law. Start with Pub 17 (they moved a lot of redundant material out of Pub 17 a few years ago, but there are still pointers to the other pubs where appropriate).

As a first year, you need to nail down filing status, dependents, and certain credits (EIC, CTC). The Paid Preparer Due Diligence form is one you should pay special attention to.

Lastly, probably the most important thing you can do prior to preparing current year return is to re-create the prior year return (if not prepared in your shop) in your software. Having to "reverse engineer" a return will uncover topics where you may need to spend more time, plus it's more likely that carryovers will be handled correctly.

I agree with msawyer. The IRS recently came out with notice (I forget the number) which they do annually for inflation adjustments - retirement, mileage rate, tax brackets, etc. I subscribe to IRS free newsletter for tax pros and a few others. I also subscribe to my state newsletters. And of course look at taxprotalk which was tax almanac back "in my day". But as with any chat or blog, whether linkedIn, facebook, etc., do your own research and start with the tax code which can be found free online. I still have to look up certain things - my brian is full - if you don't have taxbook or a quickfinder you can make your own.