This course provides tax professionals knowledge of IRS procedures and notices related to the IRS return challenges. Tax pros learn how an IRS CP2000, mail audit, office audit, and field audit work and the assessment procedures on return challenges. Best practices for responding to common CP2000 and mail audit notices and how to request reconsideration are provided so the tax pro can effectively resolve these common return challenges. Concepts of all return challenges are covered including IRS auditors, assessment statutes, location for an audit, and other critical aspects of audits and return challenges.
After completing this course, you will be able to:
- Understand IRS compliance programs that challenge the accuracy of a tax return.
- Explain how the IRS proposes and assesses additional tax.
- Understand important appeal rights when the IRS proposes a tax return deficiency.
- Describe the underreporter and audit processes and notice streams.
- Use best practices to respond effectively to an underreporter or mail audit inquiry.
- Discuss the scope, depth, targets, and common issues in IRS office and field audits.
- Summarize important concepts and procedures in IRS audits.
- Prepare effectively for an IRS face-to-face audit to obtain the best outcome for your client.
- Address penalties and recognize fraud in an IRS audit.
