Course ID: RFI

Red Flag Issues: Areas the IRS Attacks in Examination

Based on recent areas of IRS activity, this course will look at various topics that have been problematic for taxpayers or where the IRS has indicated a special interest. This course will detail cases and rulings that outline areas of conflict, emphasizing the key areas of IRS attack on taxpayer positions. This course will outline how the CPA can counsel clients in these areas to strengthen the taxpayers’ case in the event of examination.


LEARNING OBJECTIVES
  • Understand issues that trigger IRS scrutiny of the taxpayer’s positions on returns
  • Learn how to educate clients on the items needed to sustain their positions if their returns are examined
  • Advise clients with regard to positions on returns that are more likely to lead to IRS scrutiny
  • Effectively represent clients in IRS examinations and advocate for the taxpayer’s positions ? and interests

MAJOR TOPICS
  • S Corporation reasonable compensation matters/LLC self-employment tax matters
  • Passive activities, including real estate professional status
  • Travel, entertainment and automotive required documentation issues under 274(d)
  • Charitable contribution documentation requirements and deficiencies
  • Retirement plan rollovers to IRAs used to purchase operating businesses
  • Alimony and unclear divorce documentation
  • Taxpayer penalties imposed on tax assessments
  • Other recent hot button IRS issues based on cases and rulings
  • Examination procedures, including the 30 day and 90 day letters

DESIGNED FOR
CPAs who advise clients on tax return positions and those who represent clients in IRS examinations

FIELD OF STUDY
Taxes

PREREQUISITES
NONE

COURSE PRODUCER
Nichols Patrick CPE, Inc

CPE CREDITS
8.0

LEVEL
Intermediate

This course is avaliable for your group as:

Group Live
 

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