Between Covid protocols and procedural changes, as tax professionals we are facing challenges handling IRS audits and collection cases. This course will cover preparing for the audit which includes the types of audits, handling client expectations, working with the auditors, confidentiality and the Kovel Agreement. We will also address issues that arise during the audit including requests for extensions of the assessment statute; surprises; handling tricky issues; and expanded audits. Finally, we will discuss the end of the audit including the options your client has. The IRS has several enforcement tools. We will review how to represent your client when the different types of collection tools are used. This will include liens and the different types of certificates available when a lien has been filed; levy actions including levies on business assets; and when to worry that the case could be referred to Criminal Investigation. Finally, we will address the different ways to appeal proposed actions as well as handling actions already taken and handling the case in Appeals.
Preparing for an IRS audit. Types of audits. Confidentiality and the Kovel agreement. Issues that arise during the audit. Post audit client options. Issues related to collections and the types of collectors. Methods for resolving balance due situations. Income tax vs. payroll tax issues. Preparing your client to understand and resolve issues. Options for appeals.
CPAs in public practice who prepare tax returns and represent their clients on IRS examinations.
Recognize IRS structure and organization and the rules regarding the audit and examination of returns. Recognize and understand the appeals process with the IRS. Identify the collection process and penalty provisions in the IRS Code. Identify some practical suggestions for managing the IRS audit.
James A. Smith, CPA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas based, full service Certified Public Accounting firm. Mr. Smith began his career with a major international accounting firm where he served in both the audit and tax divisions.
Mr. Smith has appeared as a featured commentator on all four Dallas/Ft. Worth network news stations, including three and one-half years as a featured business commentator on KXAS, TV5; on the TSCPA “CPAs on Call” state wide tax television program; and on various radio news programs.
He has conducted seminars on tax and financial planning for the Dallas Chapter of the TSCPA and stock brokerage firms and life insurance companies, and on marketing and practice management for the TSCPA, the North Carolina Association of CPAs, the Arkansas Society of CPAs, the Pennsylvania Institute of CPAs, and the American Institute of CPAs. Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Executive Board and its Board of Directors. He is currently serving a three year term as an elected member of the American Institute of CPAs (AICPA) Council and is an appointed member of the AICPA Accounting and Review Services Committee.
In recognition of his service, Mr. Smith has been named by the TSCPA as Outstanding Steering Committee Chairman for the year 1999-2000, Outstanding Committee Chairman for the year 1995-1996, and Outstanding Committee Member for the Year 1992-1993 and 1995-96. The Dallas Chapter of the TSCPA also named him CPA of the Year for 1999-2000.
Mr. Smith is a Certified Public Accountant in the state of Texas and is a graduate of Southern Methodist University with a BBA in Accounting and Economics.
Non-Member Price $300.00
Member Price $250.00