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Live Webinar

100-minute live streaming program
  • May 29
  • 1:00 - 2:40 pm EST

Red Flags and Tax Audits in Cash-Based Businesses

May 29

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.

Learning Objectives

  • You will be able to identify which approach to identifying income in a cash intensive business is appropriate and effective.
  • You will be able to explain how to calculate a simple indirect method of proof.
  • You will be able to discuss the uses of various methods of determining income in a cash intensive business. .
  • You will be able to recognize the concepts of determining correct income reporting in a cash intensive business.

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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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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.

Credits

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • 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).
     
  • CPE 2.0 including Specialized Knowledge 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 2.0 hours.
     

Who should attend?

This live webinar is designed for accountants, CPAs, presidents, vice presidents, CFOs, accounting managers, tax managers, controllers, bookkeepers, and enrolled agents.

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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.

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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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.

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
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • 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: 405454
Published 2019
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