Mastering Schedules M-1 and M-2: A Deep Dive into Form 1120S for S Corporations
Inland Empire Chapter Virtual Meeting

Date/Time:

Wednesday, June 17, 2026
6:00 PM to 8:00 PM

Location:

Online Meeting via Zoom
This will be Zoom Meeting. Once you register and pay, the Zoom link will be provided for you to log in at the designated meeting time. Zoom does require registration before entering the meeting. 

Topic: 

Jumping into Form 1120S for the first time can be quite challenging. Though it resembles a company's financial statements, the corporate return comes with its own set of complexities, particularly Schedules M-1 and M-2. This course will clarify these essential schedules for S corporations and covers CASH BASIS filers only, accrual adjustments are not covered.
Learning Objectives:
1. Understand the structure and purpose of Form 1120S, focusing on the distinct roles of Sch M-1 and M-2 in corporate tax returns.
2. Identify common challenges and errors in filling out Sch M-1 and M-2, and learn strategies to avoid them.
3. Analyze real-world examples to see how Sch M-1 and M-2 impact the tax obligations and reporting of S corporations.
4. Gain practical skills in navigating and completing these schedules accurately and efficiently.
5. Develop the ability to interpret and apply the rules of S corporation taxation to enhance compliance and tax planning.

Presenter:

Anita Monrroy, CPA, EA, MST
Meet Anita, a driven and accomplished accounting professional who began her career after graduating from California State University, Northridge, with a Bachelor of Science in Accountancy. With a strong foundation in tax, Anita honed her skills working at Ernst & Young, a Big Four accounting firm. From there, she moved on to work with various small to mid-sized accounting firms where she focused on audits and tax returns for a diverse set of clients. As a CPA and Enrolled Agent, Anita is highly respected in her field. She also runs a successful small business, MBSI, and is a Real Estate investor. With a Bachelor of Science in Accounting and a Master of Science in Taxation, she brings a wealth of experience and expertise to her clients, which is a combination of her professional training and her own experience as a small business owner. Outside of work, Anita finds joy in social dancing, and approaches life with passion, dedication and grace. She currently resides in Reseda, CA with her fiance, Cesar. Whether in her professional world or personal pursuits, Anita brings enthusiasm, intention, and a commitment to excellence to everything she does.

CPE Information:

2 Federal Law hour(s) (Topics covering existing tax law)

IRS: 18QC1-T-02293-26-O
CTEC: 1000-CE-05780

Knowledge Level: Update (Information on new tax laws)

Cost:

Registration Fee (Member): $30
Registration Fee (Non-Member): $60

For more information please contact: [email protected] OR [email protected]

Cancellation and Refund Policy for Meeting Purchase: 
Written cancellations will be accepted up to three (3) business days before the course begins for a full refund. Please email your request to [email protected]. No refunds will be given if cancellation notice is received later than three (3) business days before the course begins, or for no-show registrants.

This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.