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Tuesday, November 10, 2020 Webcast

Hot IRS Tax Examination Issues for Individuals and Businesses (E2011101)

9:00 AM - 4:30 PM EDT

Registration: 8:30 AM EDT

Webcast


8 CPE Credits in TX

OVERVIEW

Although the IRS continues to lose its audit workforce due to budget cuts, it continues to examine specific individuals and small business taxpayers. Now, more than ever, Accounting and Financial Professionals need clients to understand the need for documentation and procedures to substantiate what IRS examiners are pursuing. Learn the high audit risk areas and ways to help clients survive an IRS audit with little or no change. It is critical for Accounting and Financial Professionals in public accounting to understand the risk to clients and to themselves in tax return preparation and planning since the IRS has currently increased its audit coverage and is examining more taxpayers than in the recent past.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

CPAs in public practice who prepare tax returns and represent their clients on IRS examinations.

BENEFITS

  • Understand what the IRS is focusing on in auditing individuals and selected businesses
  • Help clients reduce their exposure to additional tax assessments
  • Determine strategies for dealing with IRS examiners and presenting your clients’ tax positions in the best light possible

HIGHLIGHTS

  • Prepare now and protect yourself from new audit examinations, and what to do when there is identity theft
  • Understanding substantiation requirements for travel, charitable contributions, vehicles, meals, and virtual currency considerations
  • Gain an in-depth understanding of IRS hot examination issues including passive loss rules, real estate professional status, and the Section 199A provisions as they pertain to rental real estate
  • Identify how the IRS holds persons other than an employer liable for unpaid payroll taxes, a.k.a., the trust fund recovery penalty
  • Understanding IRS Audit Techniques Guides and Compliance Campaigns
  • Recognizing the 30-day letter and the 90-day letter, including what the taxpayer’s responsibilities are

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in preparing individual and business tax returns

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Douglas Stives

Douglas P. Stives, CPA, MBA

Specialist Professor

Monmouth University

Douglas (Doug) Stives, CPA, M.B.A. is a full-time professor of accounting at Monmouth University in West Long Branch, New Jersey, where he joined the faculty in 2006. Doug was honored as Monmouth’s Outstanding Business Professor of the Year in 2009 and 2016 and was awarded an Outstanding Educator award in 2021 by the New Jersey Society of CPAs. He graduated from Lehigh University with a B.S. in 1968 and an MBA in 1969. Doug started his career at PricewaterhouseCoopers in 1969 and later joined a small CPA firm that became The Curchin Group, located in Red Bank, New Jersey, where he was a partner for 34 years and continues as a consultant. In 1989 and 1990, Doug was the youngest president of the New Jersey Society of CPAs. He served the AICPA as a representative to Council, a member of the Tax Division Executive Committee, and chair of several committees. Doug is a frequent speaker for many state CPA societies. He’s been quoted in the New York Times, the Wall Street Journal, Forbes, and other national publications and has appeared on CNN, CNBC, PBS, NBC, Fox, CBS, ABC, and several cable networks. Doug remains active with his college fraternity, the Kappa Alpha Society, where he served as national president for several years. He also served on many charity boards and was chairman of the Community YMCA in Red Bank, New Jersey. Doug enjoys competitive sailing and downhill skiing.

PRICING

$389.00 - Nonmember

$289.00 - Member

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent

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