Objective
- Understand what the IRS is focusing on in auditing individuals and selected businesses
- 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
Highlights
- Coverage of the Inflation Reduction Act of 2022
- Prepare now and protect yourself from new audit examinations, and what to do when there is identity theft
- Schedule C and cash basis audit issues -- the IRS has gotten very tough
- Vehicles, meals, virtual currency and fringe benefit considerations
- Passive loss rules and real estate professional status: in-depth understanding of hot IRS audit examination areas, including the Section 199A provisions as they pertain to rental real estate
- How the IRS holds persons other than an employer liable for unpaid payroll taxes -- the trust fund recovery penalty
- Understanding IRS Audit Techniques Guides and Compliance Campaigns
- Post-audit: the 30-day letter and the 90-day letter -- what they mean to the taxpayer
Designed For
Accounting and Financial Professionals in public practice who prepare tax returns and represent their clients on IRS examinationsPrerequisite
Experience in preparing individual and business tax returnsAdvanced Preparation
None