Surgent's Hot IRS Tax Examination Issues for Individuals and Businesses

Available Anytime

Location: Online

8Credits

Technical Business

Registration is Open

FICPA Members

~~$159.00 Regular Price~~

Nonmembers

$215.00 Regular Price

Please Login to Register

Please Select co-workers you wish to register from the list:

	Name	Email	Firm Office

Product Code: SU24-EXIB-SSDL

Level: Intermediate

Vendor: Surgent

Field of Study: Taxes

Overview:

The Inflation Reduction Act increased the IRS budget. As a result, the IRS continues to replenish its audit workforce. The IRS trains its audit workforce by examining the tax returns of individuals and small businesses. Now, more than ever, Accounting, Tax, and Financial Professionals need clients to understand the need for documentation and procedures to substantiate what IRS examiners are pursuing. Learn the high audit risk areas and ways to help clients survive an IRS audit with little or no change. It is critical for Accounting, Tax, and Financial Professionals in public accounting to understand the risk to clients and to themselves in tax return preparation and planning since the IRS continues to increase its audit coverage and is examining more taxpayers than it has in the recent past.

Objectives:

Understand what the IRS is focusing on when auditing individuals and selected businesses
Identify the hot examination issues that the IRS is focusing on to help clients reduce their exposure to additional tax assessments
Determine strategies for dealing with IRS examiners and presenting your clients’ tax positions in the best light possible

Major Topics:

Prepare now and protect yourself from new audit examinations
What to do when there is tax-related identity theft
Understanding substantiation requirements for travel, charitable contributions, vehicles, meals, virtual currency considerations, and tax-related identity theft
Gaining an in-depth understanding of IRS hot examination issues including passive loss rules, real estate professional status, and the Section 199A provisions as they pertain to rental real estate
Identify how the IRS holds persons other than an employer liable for unpaid payroll taxes, a.k.a., the trust fund recovery penalty
Understanding IRS Audit Techniques Guides and Compliance Campaigns
Recognizing the 30-day letter and the 90-day letter, including what the taxpayer’s responsibilities are

Designed For:

Accounting, Tax, and Financial Professionals in public practice who prepare tax returns and represent their clients on IRS examinations

Prerequisite:

Experience in preparing individual and business tax returns

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.