Description

Practitioners play a vital role in helping individuals and businesses navigate the complexities of the tax code and interact with the IRS effectively. They can assist clients in understanding their tax obligations, preparing accurate tax returns, and responding to IRS inquiries or audits. Melissa Wiley, Tax Partner with Lowenstein Sandler, joins this segment to discuss working with the IRS and helping clients reach the best possible resolution. This includes discussion of the IRS divisions and tax compliance division structure, changes at the IRS from additional funding as a result of the Inflation Reduction Act, IRS examination triggers, as well as how to effectively prepare for IRS examinations.

Target Audience

CPAs and other financial professionals seeking education on the topic.

Course Objectives

• Recognize the various divisions within the IRS

• Identify how funding from the Inflation Reduction Act has improved operations at the IRS

• Recognize IRS examination triggers

Subjects

• Identify best practices when preparing for IRS examinations