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Ins and Outs of an IRS Audit

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.

Runtime: 102 minutes
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Why Lorman?

Over 32 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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Why Lorman?

Over 32 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 Webinar

This course was last revised on June 7, 2019.

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

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

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

Audio & Reference Manual

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

MP3 Download

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

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More Program Information

Why Lorman?

Over 32 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

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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Why Lorman?

Over 32 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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Product ID: 405620
Published 2019
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