The IRS keeps a database of information regarding each Tax Identification Number (TIN). The information is recorded on Account Transcripts, which show activity on the TIN for each tax year. A transcript displays your tax information specific to the type of tax transcript you request.
IRS transcripts provide practitioners with records and insights into actions made by the IRS and a client. They offer information about past, present, and even future actions on a taxpayer’s account. Understanding how to read and review IRS transcripts is critical during the resolution process and can be utilized for return preparation as well.
Every Representation case demands a full understanding of how to read IRS Account Transcripts. Additionally, there are Return Transcripts, Wage and Income Transcripts, and a combination Transcript. Many Tax Practitioners struggle with Transaction Codes and their meanings. The Transcripts tell the story of how the client "got here" and the future of the case will depend on those same transcripts.
In this IRS-approved CE Webinar, we will review the basic transcripts and most common Transaction Codes (TC).
This course covers the following Major Topics:
Owner, Tax Help Associates
Marc J. Dombrowski, EA specializes in IRS/State Collections Cases, settlements with the IRS, Tax Lien Releases and Corporate Officer Assessments. He has lectured since 1994 on advanced collection topics. As an Enrolled Agent, he is licensed to practice before the IRS in all 50 states. He received the NAEA President’s Award for his contributions to the practitioner community.
As an educator, he received the NAEA’s Excellence in Education Award. He is a former contributor to CNBC, the NAEA's EA Journal and the Wall Street Journal Online. He is a Level I, Level II, Level III and Graduate Level instructor with the National Tax Practice Institute. In addition to several Chapter EA speaking engagements, he has spoken for the NYS Society of EA's, CA Society of EA’s, Florida EA Society, Missouri Society, NJ Society, Tennessee, Washington, Arizona, Michigan, Georgia, Louisiana, New England EA’s, Utah EA Society, NATP and the Ohio EA Society's Annual Convention(s). He has collaborated with Tax Practice Pro to provide several Collections Webinars and Podcasts that qualify for Continuing Education on IRS and State Collection Topics. Marc is also a FINRA Arbitrator.
Through his extensive national experience solving a variety of business & personal tax and debt problems, Marc has gained experience in resolutions to fit any situation. “There is no problem, big or small, that cannot be resolved; there is always a light at the end of the tunnel, just take the time to talk to me about it.”
He is also available for birthday parties under gatherings of 10 people (from the same household).
Course Level
Credits
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 maintenance 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 through its website: www.NASBARegistry.org.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
532 Ratings
MB
Nov 2nd, 2023
Great course on what is always a cyclical requirement for tax professionals. Much better class than others on the same topic. Very succinct but caught a couple of things that I lost track of.
NB
Dec 20th, 2023
Very useful session. Spent the beginning going over different aspects of the transcripts and then went through an example transcript. Good pacing and visual understanding.
PS
Dec 16th, 2022
I really liked how the instructor went through the various transcripts and explained them in depth. The examples really helped make the transcripts understandable.
KL
Apr 23rd, 2023
Mark was an excellent presenter & explained items very concisely, but with enough detail for the practitioner. I am looking forward to more classes he presents.
JB
Jul 28th, 2023
This was a very informative webinar. It provided real world examples and contributed to my understanding of how to read the various IRS transcripts.
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