Mind the Gap: Unpacking the IRS's $996 Billion Tax Shortfall 0.2 Credit
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Dive into the IRS's recent tax gap projections and understand the implications of a $996 billion shortfall in collected taxes. This nano-learning course, led by tax expert Nicholas Preusch, explores the tax gap, examining factors like underreporting and non-filing and how they impact voluntary compliance. With the IRS's voluntary compliance rate steady at 85%, the course considers what these numbers mean for U.S. tax practitioners and highlights the role of ethical responsibility in reducing tax discrepancies.
From assessing how economic growth affects tax behavior to understanding new compliance measures under the Inflation Reduction Act, this course gives essential insights for practitioners. Join us to learn more about tax compliance and strategies for closing the tax gap.
Major Topics:
Note: Please be aware that not all state boards universally recognize Nano-learning. If you are unsure about your state board's acceptance of Nano-learning, it's advisable to seek clarification from them or visit the NASBA registry for further information.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 0.2 CPE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 0.2 CPE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 0.2 CPE | Approved |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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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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