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IRS Tax Examinations and Hot Issues

ID: 59976
Tuesday December 17, 2024 1:00PM - 4:30PM
Topics: Tax
Save 17% until 11/19/2024

Due to IRS issue focused examinations, Accounting and Finance Professionals need to understand what types of returns are selected for examination and ways to help clients survive an IRS audit with little or no change. As a result of issue focused examinations, Accounting and Finance Professionals must understand what the high audit risk area issues are and what the IRS is focusing on when a return is examined. In addition, because tax-related identity theft is a common issue for many taxpayers, it is critical for Accounting and Finance Professionals to understand the procedures necessary to resolve this matter for their clients.

Learning Objectives

• Understand the IRS process for selecting returns for examination

• Identify the types of returns the IRS is examining

• Understand the hot examination issues that the IRS is focusing on to help clients reduce their exposure to additional tax assessments

• Determine if your client is a victim of tax-related identity theft and the procedures to use to resolve strategies for dealing with IRS examiners and presenting your clients’ tax positions in the best light possible

Major Topics

• Coverage of the Inflation Reduction Act of 2022

• Criteria that the IRS uses to select returns for examination

• Vehicles, meals, and virtual currency considerations

• Worker classification determinations on who is an employee and who is an independent contractor

• S corporation officer’s reasonable compensation issues

• Responsibilities to pay the employment taxes when the business defaults

• Tax-related identity theft procedures

Designed For

Accounting and Finance Professionals in public practice who prepare tax returns and represent their clients on IRS examinations

This virtual seminar is being offered through our partnership with Midwest State CPA Societies. You will launch from your MyOSCPA learning center day of and be prompted to enter in name and state society at time of entering.