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IRS Representation Series - Steps to Take After Successful Collections or Audits

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Preparer

Published: May, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Table of Contents
    3 mins
  • Explanations of IRS Letters
    12 mins
  • When You May Need to Amend
    25 mins
  • Some Attributes Only Partially Reduced
    37 mins
  • Amending Open Statue Years
    45 mins
  • Amending State Returns
    68 mins

Course Description

An IRS audit is a review/examination of an organization's or individual's accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.

Less than 1% of TPs are audited each year or about 1.5M returns.

The audit process doesn't end with successful collections or OIC.

During this online continuing education course, you'll learn more about the complexities of closing letters, lien release, adjustment of tax attributes, and amending prior federal and state returns.

This Online CPE course will cover the following topics:

  • The end of the audit
  • Closing letters - how to read them, and ensuring you get them, and the importance of ensuring you get them
  • Adjustment of tax attributes
  • Amending prior IRS and State returns affected by the settlement
  • Preparing current year returns based on audit results
  • Successful Collections - OIC or IA
  • Getting liens released

This Online Accounting CPE Course is one of the best courses for Accountants and Approved for CPE Credits for CPA, AFSP, EA, & other tax preparers. It's a Part of Series:

Learning Objectives

  • To identify and apply a list of steps to take after an audit has been successfully resolved, and after a collections battle has been won
  • To recognize which form to use to file an amended return
  • To recognize the worst result in an audit
  • To identify what would not cause you to have a reduction in tax attributes
  • To recognize what you need in order to get certain liens or levies released, after a successful audit reconsideration
  • To identify which form to use to get a quick refund when you have a net operating loss for certain Farming Losses on the current year's tax return

Who Should Attend?

  • Accounting Firm
  • Annual Filing Season Program
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00540-21-S)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0521)
  • 2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00540-21-S)
  • 2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00540-21-S)
  • 2 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

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.

NASBA APPROVED

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.

CTEC APPROVED

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.

Presenter

About Presenter

Lambers, Inc.

, Lambers, Inc.

Lambers Financial is a leader in providing E-learning courses for accounting professionals looking to achieve the industry's most recognized designations such as the Certified Public Accountant (CPA) and Enrolled Agent (EA). Accounting and finance professionals around the world incorporate Lambers products into their training programs.

Lambers CPA Review was started by Vincent W. Lambers in July of 1966 in Boston, MA. The first class had six students and from that point, the program grew to be the largest live instruction CPA Review program in New England. The Lambers teaching method of illustrations, examples and working problems has helped over 250,000 candidates pass the CPA Exam since that first class in 1966.

Today, Lambers review courses deliver that same successful teaching style to exam candidates via online video, unique adaptive testing software, and textbooks. Over the last two decades, we've expanded our offerings to include the Enrolled Agent (EA), an extensive library of both IRS approved continuing education (CE) courses (including the IRS Federal Tax Refresher (AFTR) course for registered tax professionals), and NASBA approved continuing professional education (CPE).

See why Lambers Financial has remained a leader in professional education for over fifty years! Visit our website today to check out our full line of review courses and titles.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

4.7

25 Ratings

Excellent

17

Very Good

8

Average

0

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SD

Sabrina Denning, EA

Nov 5th, 2022

It is always a pleasure to listen to Eva. So much good information. Thanks

RMC

Rosalba Maravilla Ceja, AFSP, CRTP, EA, RTRP

Jun 10th, 2022

Excellent presentation

SLW