How to Handle Top 10 Issues in IRS Small Business Audits 2 Credits
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When the IRS selects a small business for an audit, it can be a nerve-wracking experience. Understanding the audit process and navigating common issues can make all the difference between a smooth resolution and a prolonged, stressful ordeal.
This CE Course is designed to give small business owners, CPAs, and tax professionals the insights and strategies to handle the most frequently encountered issues during IRS small business audits. We'll begin by examining the IRS audit process, from selection to appeals, and discussing the various types of audits you might encounter. We'll also cover identifying and addressing potential red flags, such as personal items mistakenly included in business expenses or assets not correctly recorded in the business name.
Key topics-
Join this CE Course, it will delve into the top 10 issues auditors focus on, providing practical solutions and tips to avoid penalties. From managing discrepancies in S Corp AAA and AE&P to ensuring proper asset depreciation, we’ll guide you through the steps to prepare for an audit effectively.
For more IRS Tax Courses, Click here.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1691) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1691) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1691) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02103-24-S) | 2 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02103-24-O) | 2 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02103-24-O) | 2 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1691) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02103-24-O) | 2 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02103-24-O) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02103-24-O) | 2 CE | Approved |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.
Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).
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DS
The presentation appeared to be straightforward and good bullet points. There was a lot of detail given to better understand the items and processes of helping our clients when they receive notice of an audit. It is a good time for the tax preparer to assist their customer with value added support and should be emphasized with our small business customers as necessary and crucial responsibility of the information they are providing us in the preparation of their returns.
MR
As a CPA and former IRS agent, everything we do for our clients goes into a funnel and a tax return is the result. This webinar reminds all of us key areas to ensure we focus on when reviewing clients books and when we are preparing their tax returns. More webinars similar to this should be offered!
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