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Red Flags and Tax Audits in Cash-Based Businesses

Join us for your comprehensive guide to the procedures and obstacles of IRS audits of cash-based businesses.

Tax Audits involving cash intensive businesses requires a determination of whether income is property reported through testing of gross receipts, reconciling income to books, minimum income probes, interviewing the business owner, analyzing bank accounts both personal and business, and using financial status audit techniques. If there is a reasonable indication of unreported income, the IRS can use an indirect method to reconstruct the income. This topic will discuss the approach IRS may use to make determinations regarding income reported in a cash intensive business.

Runtime: 97 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

Conducting Minimum Income Probes

Financial Status Audit Techniques

Internal Controls

Reconciling Books to Return

Testing Gross Receipts - Analyzing Bank Accounts

Red Flag Tips - What Not to Do

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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 May 29, 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

Jo-Ann Weiner, E.A. CFE NTPI

Jo-Ann Weiner, E.A. CFE NTPI

J.L. Weiner & Associates, LLC

Jo-Ann Weiner, E.A., CFE, NTPI Fellow

  • Expert in the forensic tax accounting field as a certified fraud examiner and an enrolled agent
  • Former U.S. Internal Revenue Service revenue agent for 35 years where she audited federal tax returns, worked as a special enforcement agent on civil cases, criminal cases, and grand jury cases
  • Worked as an outside contractor teaching corporate taxation to IRS revenue agents
  • Formed the private practice of J.L. Weiner & Associates, LLC in 2013 where she routinely represents clients who are being audited by the federal or state government or are being investigated on federal criminal tax charges
  • In the past, she served as an expert witness testifying in court for the federal government; currently, she has testified and been deemed an expert in legal disputes
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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: 405454
Published 2019
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