How to Handle Top 10 Issues in IRS Small Business Audits 2 Credits
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Nov 08, 09:30 AM
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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.
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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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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
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!
JM
Handout was very helpful for me to take notes. Although I'm not a beginner, I got lost in the AAA vs AE& P. I had to google what it was. I really need to take the business course as there is a ton I didn't know before this class.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.
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