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Self study cpe
Managing Complex IRS Audits of Midsize Business Taxpayers - Expanded

MANAGING COMPLEX IRS AUDITS OF MIDSIZE BUSINESS TAXPAYERS - EXPANDED

CPE Processing Fee$20.00
Webinar TranscriptionN/A
Presentation Length Hour(s)2.0 hours
CPE Credits2.0 hours
CE Credits 2.0 hours
Course Id# - HURS9-U-00210-18-S
Subject Area Taxes (Federal Tax Update)
Course LevelIntermediate
Instructional MethodQAS Self-Study
PrerequisitesBasic knowledge of taxation.
Advance PreparationNone
Recorded DateMar 11, 2020
Date OfferedMar 11, 2020
Course Description

This webinar will provide guidance and best practices for responding to IRS audits of medium-sized business taxpayers, including detailing IRS examination techniques, how to respond to Information Document Requests, and navigating IRS interviews.

Receiving an Information Document Request (IDR) from the Internal Revenue Service is stress-inducing, time-consuming and potentially costly. These requests generally signal the beginning of an audit or examination of a tax return. In cases where the IRS proceeds beyond a simple IDR to a full audit, the process becomes more complex. This can result in not only added expense in responding to the requests, but also significant legal and business implications that can produce unwanted future results if the taxpayer does not effectively respond.

The IRS has broad authority to carry out information requests and interviews, but there are also significant limits on those powers that protect taxpayers undergoing an audit of a tax filing. Gaining a detailed understanding of the examination process, from the inception of an IDR through the more exhaustive audit and summons stages, will significantly benefit tax advisors to midsize businesses in responding to IRS information requests.

By knowing the audit process and the taxpayer protections built into the IRS’s procedures for conducting audits, tax counsel and advisors can avoid mistakes that result in additional tax and sanctions.

Listen to a thorough review of the IRS audit process, and discusses best practices for advisors to midsize businesses for handling IRS information requests by outlining the taxpayer’s responsibilities and rights in an examination.

Learning Objectives:


  • Identify the IRS's powers and taxpayer protections in the audit process

  • Determine how to advise midsize businesses who are undergoing IRS review or audit


Agenda:


  • Pre-Audit Best Practices

  • Issue and Return Selection

  • Overview of Audit Process

  • Information Document Requests and Summonses

  • Strategic Implications of 2014-2016 Developments

  • Privileges

  • IRS Interviews and Meetings

  • Period of Limitations on Assessment

  • Pre 30-Day Letter Resolution Tools

Self-Study Course Instructions:

FOR DOCUMENT-BASED COURSES

Download the course document(s) (below) and follow prompts contained in the document.



FOR RECORDED COURSES WITH VIDEO

Download any course document(s) (below) which may include handouts, glossary, transcripts, etc. Follow any prompts contained in the documents to help you complete the course. Most documents are searchable.

Play the recording, noting the sectional guides indicating where topics on the agenda are covered and the prompts to pause video playback to respond to a review question (located below the video playback area). The timestamps for review questions are also noted below.

Upon completing the video and successfully answering all review questions, you will then take the final exam.

Complexirs selfstudy
Handout Materials
Presentation Slides
Transcription
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NOTE: This transcription is searchable. Once you open the transcript, you can use "Control F" to search the document.
Additional Materials
Glossary
Review Questions
Review Questions
QUESTION 1: 0:12:15 minutes
QUESTION 2: 0:21:41 minutes
QUESTION 3: 0:58:15 minutes
QUESTION 4: 1:27:15 minutes
QUESTION 5: 1:40:35 minutes
QUESTION 6: 1:52:15 minutes
Frequently Asked Questions
  • CPAacademy self-study courses are online.
  • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
  • Print your own certificate of completion on the spot upon passing the exam.
  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Jamie Brown acts on tax-related matters, with a focus on federal tax controversies and litigation. Mr. Brown is a skilled tax litigator. From 2006 to 2013, he was a Trial Attorney with the Tax Division of the U.S. Department of Justice, where he acted as lead counsel for the government in over 100 civil tax cases. Mr. Brown took scores of depositions, and tried cases to judges and juries in U.S. district and bankruptcy courts. The Tax Division recognized Mr. Brown’s results with Outstanding Attorney awards in 2009 and 2012.

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About Our Presenter

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Ivins, Phillips & Barker, founded by two of the original judges on the United States Tax Court in 1935, is the leading law firm in the United States exclusively engaged in the practice of federal income tax, employee benefits and estate and gift tax law. The firm’s lawyers are nationally recognized to be among the best and brightest in the country. Our decades of focus on the intricacies of the Internal Revenue Code have led numerous Fortune 500 companies, as well as smaller companies, tax exempt organizations, and high net worth individuals to rely on the firm for answers to the most complicated and sophisticated tax planning problems as well as for complex tax litigation.