This course features experienced tax practitioners explaining the current status of IRS audits, how tax practitioners should manage an audit when a client receives a notice from the IRS, and what entities and transactions are specifically targeted for audit.
BENEFITS
- Understand the current state of IRS audits
- Be able to to present an effective defense against an IRS audit
HIGHLIGHTS
- Overview of IRS audits
- How the IRS conducts and concludes an audit
- Which taxpayers have a greater chance of audit
- Taxpayer rights during an audit
- Information document requests
- Common issues in IRS audits
- Potential IRS audit outcomes and penalties
- What happens when a client agrees or disagrees with the IRS’ findings
- Audit reconsideration and audit appeal
PREREQUISITES
A working knowledge of individual income tax rules