Learn how to properly manage an IRS audit and minimize any potential tax and penalty exposure.
After a long decline in funding, the Internal Revenue Service (IRS) has received additional funding targeted to enforcement. The IRS has also partnered with advanced technology companies to more easily identify individuals and businesses to audit. Many businesses and individuals are unprepared for a potential IRS audit and, even when contacted regarding an IRS audit, are harming their position by not properly preparing for the audit. This material will help in-house tax professionals, external advisors, and business owners understand the significant risk factors associated with an IRS audit. The material explains how an IRS audit can begin, the types of information the IRS may request, how to address errors identified during an audit, and the natural points were an audit can be resolved. Failure of taxpayers to properly appreciate and proactively address an IRS audit can result in significant civil (and potentially criminal) tax penalties. This information is critical for taxpayers and their representatives.
Learning Objectives
- You will be able to identify audit triggers
- You will be able to differentiate between audit types and processes
- You will be able to differentiate between defenses
- You will be able to identify methods to resolve audit and disputing results
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Why Lorman?
Over 37 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
IRS Audit Selection and How to Prepare
- Audit Triggers and Types of Audits
- Hot Areas for IRS Audits and Enforcement
- Preparing for an IRS Audit
Defending the Audit
- IRS Information Gathering Techniques and How to Respond
- Correcting Errors and Voluntary Disclosure
- The Role and Best Use of Tax Professionals
Resolving the Audit and Disputing the Results
- Methods to Resolve the Case During Audit
- Dealing With Civil Penalties
- Dealing With Unresolved Audit Adjustments
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More Program Information
Why Lorman?
Over 37 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 reviewed on March 8, 2023.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 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
T. Joshua Wu
Clark Hill Strasburger
- Partner with Clark Hill Strasburger
- Specializes in resolving complex IRS audits, administrative appeals, civil tax litigation, offshore trusts and assets, multijurisdictional investigations, and IRS collection matters
- Named as Rising Star in Tax by Super Lawyers (Thomson Reuters)
- LL.M. degree in taxation, Georgetown University Law Center; J.D. degree, Syracuse University College of Law
- Can be contacted at [email protected]
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More Program Information
Why Lorman?
Over 37 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.
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