Surgent's IRS Tax Examinations and Hot Issues
Online
4.00 Credits
Member Price $159.00
Non-Member Price $224.00
Overview
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.
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
Highlights
- 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
Prerequisites
Experience in preparing individual and business tax returns
Preparation
None
Notice
To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange “Launch Event” button.
Leader(s):
Leader Bios
Deborah Phillips, Surgent McCoy CPE, LLC
Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S corporation tax law as well as IRS audits and procedures. Debbie has been very successful petitioning and resolving tax issues under the jurisdiction of the United State Tax Court. She is proficient in the Section 199A provisions and computations as well as all aspects of the Tax Cuts and Jobs Act of 2017. She works with various CPA firms during tax season preparing all types of tax returns. In addition, she utilizes her forensic accounting skills for tax preparation of clients involved in potential IRS criminal prosecution. Debbie retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS), where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 32 years. She has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry, and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for approximately 20 years as well as a textbook author. In 2015 through 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Debbie earned her master’s degree in taxation from Widener University.
Non-Member Price $224.00
Member Price $159.00