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IRS Penalties and Abatements (Z2-428)

100 Minutes
On demand - Video

On Demand - Video

2 CPE Credits in TX

OVERVIEW

Penalty abatement is a technique that tax practitioners can utilize to help their clients reduce penalties and interest they owe to the IRS if the taxpayer can prove "reasonable cause". This informative and insightful webinar will provide you with some insider tips, practical steps and effective strategies to help your client manage IRS tax penalties and interest. Learn about various types of penalties that you may face, and the various forms and procedures used for requesting penalty and interest abatement, including First Time and Reasonable Cause abatement. Plus, learn about the procedure to follow when requesting refund of paid penalties.

BENEFITS

  • Identify situations where penalties can be imposed
  • Utilize techniques for preventing or reducing any penalty assessments
  • Ascertain when the First Time Abatement can be used
  • Obtain a working knowledge of the procedure governing the request for refund

HIGHLIGHTS

  • Various types of penalties: Accuracy related, fraud, understatement of valuation, reporting requirement, failure to pay, and pay or deposit penalties
  • Rules on waiver of penalties and interests
  • Various forms and procedures for requesting relief
  • First Time Abatement: Requirements and procedures
  • How an individual taxpayer qualifies for Reasonable Cause abatement
  • Procedures for requesting refund of paid penalties
  • Available administrative options

COURSE LEVEL

Intermediate

PREREQUISITES

None

INSTRUCTOR

Allison McLeod

Allison M. McLeod, CPA, LL.M., J.D.

Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas. She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England.

Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.

Professor McLeod teaches at the university level graduate classes on Ethics, Tax Research and Corporate Income Tax. She also lectures in Financial Accounting and Individual Taxation on an undergraduate level. She has taught at the UNT College of Law as adjunct faculty and works part-time at the law firm of Grable Martin Fulton, PLLC. Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation. She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses. Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty. She is currently serving on the Professional Ethics Committee of the Texas Society of CPAs.

Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.

PRICING

$58.00 - Member

$78.00 - Nonmember

ADDITIONAL OPTIONS

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COURSE DEVELOPER

CPA Crossings

AREAS OF INTEREST