Ins and Outs of an IRS Audit

$219.00

SKU: 411288

Description

Learn how to properly manage an IRS audit and minimize any potential tax and penalty exposure.
Many taxpayers are audited by the Internal Revenue Service each year. Now that the Internal Revenue Service has received additional funding from Congress, the IRS has stated that they will conduct more IRS audits especially focused on highnetworth individuals. We will discuss the audit triggers that can cause an IRS audit and how the IRS selects tax returns for examination. We will explain how the Internal Revenue Service Revenue Agents conduct an IRS audit and how someone representing the taxpayer should prepare for the audit. We will also discuss the process of an IRS audit and how to respond to the Internal Revenue Service revenue agents when they request documents and interviews with your taxpayer. We will also discuss how to appeal an audit if you cannot reach an agreement with the IRS Revenue Agent. We will explain the steps that you should take in order to win a favorable settlement for your taxpayer in the IRS appeals division.
We will also discuss how to handle civil audits when you believe that the taxpayer may have committed a federal tax crime that the Internal Revenue Service does not know about or has not discovered.

Date: 2025-03-13 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to describe the Internal Revenue Service audit process.

* You will be able to discuss how to deal with an IRS Revenue Agent during and IRS audit.

* You will be able to explain how to deal with a civil audit in which the taxpayer has committed federal tax crimes.

* You will be able to recognize a criminal case vs a civil tax case.

Can Positions That You Take on Your Federal Income Tax Return Trigger an IRS Examination
• Personal Use of Jets
• High Ratio Deductions
• Home Office Expenses

How to Prepare for an IRS Audit
• Pre-Audit Review of Tax Returns and Workpapers
• Review CPA Workpapers and Interview CPA and/or Taxpayer

How to Respond to IRS Request for Information During an Audit
• Bates Number All Documents Produced to IRS
• Provide a Written Narrative Explaining How the Records Tie to the Federal Income Tax Return

How to Handle IRS Requests for Interview
• Do You Allow Your Taxpayer to Be Interviewed
• How Do You Prepare Your Taxpayer for an Interview

Can You Settle an Internal Revenue Service Audit If You Cannot Agree With the IRS Revenue Agent
• File Protest With IRS Office of Appeals
• Settle Your Case Based on the Hazards of Litigation

AIPB ,Enrolled Agents ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Robert C. Webb-Frost Brown Todd LLP