How to Effectively Represent Clients Under IRS Audit  (RCA2)

2.00 CPE Credit Hours

Increased funding resulting from the enactment of the Inflation Reduction Act would have allowed the IRS to target many more wealthy individuals and large businesses for audit. The Trump Administration has gone in a different direction, with prospects for a reduction in IRS employees and less money to fund the purchase and development of new software. This course discusses the current status of IRS audits.

Any tax practitioner advising clients with respect to an IRS audit

• Understand and advise clients on the current state of IRS audits
• Present an effective defense against an IRS audit

• Impact of the Trump administration on IRS funding
• Why the IRS selects a tax return for audit
• What happens when the taxpayer disagrees with the results of the audit
• IRS employees who interact with taxpayers during an audit
• FATCA audits
• Types of IRS examinations
• Potential IRS audit outcomes
• Substitute for returns
• Large Partnership Compliance Program
• IRS's shift in audit strategies
• Responding to IRS Notices online
• Audits of high income and high-net-worth individuals
• The Bipartisan Budget Act of 2015 (BBA) and its impact on auditing partnerships
• IRS letters of concern