Description
Increased funding resulting from the enactment of the Inflation Reduction Act will allow the IRS to target many more wealthy individuals and large businesses for audit. These efforts will become more intense over the next several years as the IRS employs artificial intelligence in more of its audits. This program discusses how and when the IRS's energized audit efforts will result in more audits of taxpayers and what attendees need to know to effectively represent clients that the IRS audits.
Presented by Mike Tucker, Ph.D., LL.M., J.D., CPA
Qualifies for IRS CE Credit
Designed For
Any tax practitioner advising clients with respect to an IRS audit
Objectives
- Understand and advise clients on the current state of IRS audits
- Present an effective defense against an IRS audit
Highlights
- Why the IRS selects a tax return for audit
- What happens when the taxpayer disagrees with the results of the audit
- IRS employees who interact with taxpayers during an audit
- FATCA audits
- Types of IRS examinations
- Potential IRS audit outcomes
- Substitute for returns
- Large Partnership Compliance Program
- IRS’s shift in audit strategies
- Responding to IRS Notices online
- Audits of high income and high net-worth individuals
- The Bipartisan Budget Act of 2015 (BBA) and its impact on auditing partnerships
- IRS Letters of Concern
Advanced Prep
None
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Leaders
Surgent Panel
No Biography Available