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IRS Statutes of Limitation

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Prep.
  • CFIRS
  • CWS

Published: March, 2022

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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

  • Practical administration of income tax policy
    7 mins
  • Whose responsibility to track it?
    14 mins
  • What are not SOLs?
    21 mins
  • False fraudulent returns
    34 mins
  • What does this mean?
    46 mins
  • Double allowance of deduction or credit
    74 mins
  • Trust fund recovery
    93 mins

Course Description

What is the Statue of Limitation?

A statute of limitations is the amount of time a person/government has to take action on a legally enforceable crime.

This online CPE webinar will go into all the different statutes of limitations that may affect your clients with the Internal Revenue Service (IRS). A statute of limitations is the amount of time the IRS or the taxpayer has to do something before they are barred from performing such actions. This continuing education webinar will look at statutes of limitations such as assessments, collections, and refunds. We will also look at what can extend the statutes and what else could impact them.

After attending this online CE/CPE webinar, attendees will have a firm understanding of the IRS Statutes of limitations.

In this online CPE Tax webinar following are the major topics covered:

  • What is meant by Practical Administration of Income Tax Policy?
  • What does SOL Apply to and from where to refer SOL Law?
  • Difference between Due Date and Statue of Limitations.
  • Statue of Limitations- Assessment Procedure.
  • Information to be included in Return
  • Various Exceptions to Statute of Limitations
  • Correlative Deductions or Inclusions for Trusts or Estates or for Legatees, Beneficiaries or Heirs 
  • Date of Assessment and Seizure notice.

Click here to access CPE/CE Courses on IRS Audit, Representation, and Resolutions.

Learning Objectives

  • To determine the SOL for IRS assessment
  • To analyse how SOLs can be tolled and extended or shortened
  • To discuss how the IRS collection process can stop with the statute of limitations
  • To discuss the process to extend statutes of limitation
  • To determine how to construe the law and exception 6501(c)
  • To analyse implications of False Fraudulent Return and subsequent Real return

Recommended For

  • This IRS-approved CE Webinar is recommended for CPAs, EAs, Tax Firms, Tax Practitioners, and other Tax Professionals interested in updating their knowledge regarding IRS Statutes of Limitation. 

Who Should Attend?

  • Annual Filing Season Program
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Practitioners
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0830)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00991-22-S)
  • 2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00991-22-S)
  • 2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00991-22-S)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper

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

Nicholas Preusch

Certified Public Accountant (CPA), Nicholas Preusch

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).

Faq

FAQs content

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Ratings and Review

4.3

45 Ratings

Excellent

23

Very Good

16

Average

3

Poor

1

Terrible

2

BW

Becky Wilhelm, CPA (US)

Jun 24th, 2022

Very personable instructor with lots of examples

MF

Michael Fraser, EA

May 20th, 2022

Very informative

KL

Karen Livingstone, CPA (US)

Jun 25th, 2022

This session was horrifying. The instructor assumes that the audience are tax attorneys and the slides do not convey enough content.

MF

Marc Feifer, CPA (US)

Jun 19th, 2022

The instructor just reads slides that aren't very clear and include spelling errors. The information on the slides isn't very clear or useful for referring back. This is the second course I have taken with this instructor and I hated both of them. I didn't realize it was the same instructor when I selected this course, otherwise I would have never taken it.

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