Anatomy Of An IRS Audit

Learning Objectives

• To identify the Revenue Agent's Responsibilities during the preparation for the audit
• To recognize what can and can't be done during the Audit.
• To recall the Revenue Agent's Audit Guidelines
• To recognize what the Revenue Agent is supposed to do and what the Practitioner can do to represent his client knowing the do's and don'ts of what can and should be done during the audit.
• To review the Internal Revenue Manual in the area of Revenue Agent pre-audit and audit guidelines.

Course Description

IRS audit is a complex process and it continues to unfold new leaves despite clearing so much. This webinar is for those practicing before the Internal Revenue Service. The webinar will take an in-depth view of the Examination Process i.e. What the Revenue Agent should consider         

• Pre-Contact Responsibilities of the Agent
• In-Depth Pre-Contact Analysis
• Repetitive Audit
• Collectability
• Third Party Contacts
• Making Initial Contact
• Scheduling Appointment with the Taxpayer
• Place of Examination
• Time of Examination
• Transfer of Returns Before the Initial Appointment
• Authority to Examine Tax Returns
• Advising Taxpayers of the Reasons for Their Examinations
• Requesting the Audit File before the Examination begins
• Examination Techniques
• When the normal audit case is referred to the Criminal Investigation Division
• How to differentiate between the application of a Fraud Penalty and Negligence
• Statute of Limitations; 3 year and 6-year statutes
• Failure to file cases when to file old years and when to pause and seek Counsel

It will answer the key questions like:

• How to secure the case file even before the Audit begins. 
• How to determine how the Audit was selected. 
• How many years can the IRS go back during the examination? 
• What are the red flags for the Agent to refer the case to the Criminal Investigation Division? 
• What are the criteria for a Fraud Referral by the Revenue Agent?

The webinar will go in-depth covering a lot of subjects. Real-life examples will bring to life the dos and don’ts of dealing with the IRS during an Examination of your client’s return.

Overview

• High Income High Wealth Audits

  14 mins
• Initial Return Screening

  27 mins
• Restriction on Consecutive Audit or Survey by Same Examiner

  37 mins
• Examination of Income

  50 mins
• Learning Objective 3 - The Audit

  74 mins
• Place and time of Examination

  99 mins
• Inspection of a Taxpayer's Residence

  135 mins
• Learning Objective 5 - Penalties and how to get them abated

  149 mins