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OnDemand Course

Understanding and Avoiding Penalties Applicable to Tax Practitioners

Attend this ondemand webinar and find out what penalties you may be subjected to and how to minimize that risk.

Tax practitioners face increasingly complicated tax systems. Risk of error increases along with the risk of penalty assessment. This ondemand webinar reviews the federal tax penalties relevant to tax practitioners and how to avoid them. Coverage includes the preparer penalty, how and when it applies, how the IRS assesses it and tips for avoiding it. Other penalties are also reviewed to provide the fuller context of what you must do to reduce exposure to any penalty or violation of a professional rule of conduct. Examples will be covered throughout the presentation.

Runtime: 89 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Nature of the Various Penalties Applicable to Preparers
  • Key Penalties Relevant to Clients

Preparer Penalty of IRC ยง6694

  • Background
  • Basics of the Penalty Calculation
  • Who Is a Preparer?
  • Signing vs. Nonsigning Preparer
  • Standard of Care Necessary to Avoid the Penalty
  • Assessment Process
  • Examples

Other Penalties

  • Penalties Related to Tax Return Preparation
  • Penalties Not Solely Related to Return Preparation

Additional Considerations

  • Circular 230
  • Professional Rules of Conduct
  • Areas of Extra Scrutiny
  • Exceptions for Reasonable Cause

Tips for Avoiding Penalties

  • Client Relations
  • Due Diligence
  • Common Sense

Summary and Questions and Answers

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on February 25, 2015.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Annette Nellen, CPA, CGMA, Esq.

Annette Nellen, CPA, CGMA, Esq.

San Jose State University

  • Professor at San Jose State University
  • Professor in and director of the SJSU MST Program
  • Prior to joining SJSU in 1990, was with the IRS and EY
  • Active member of the Tax Sections of the AICPA, ABA and California Bar
  • J.D. degree, Loyola Law School; M.B.A. degree, Pepperdine; B.S. degree in accounting, CSU Northridge
  • Can be contacted at http://www.sjsu.edu/people/annette.nellen/ or http://www.21stcenturytaxation.com
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • Course Manuals
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  • White Papers and Articles
  • Sponsored Live Webinars

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  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 395996
Published 2015
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