Description

Increased funding resulting from the enactment of the Inflation Reduction Act will allow the IRS to target many more wealthy individuals and large businesses for audit. These efforts will become more intense over the next several years as the IRS employs artificial intelligence in more of its audits. This program discusses how and when the IRS’s energized audit efforts will result in more audits of taxpayers and what attendees need to know to effectively represent clients that the IRS audits.

Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

Target Audience

Any tax practitioner advising clients with respect to an IRS audit

Course Objectives

Understand and advise clients on the current state of IRS audits

Present an effective defense against an IRS audit

Subjects

Why the IRS selects a tax return for audit

What happens when the taxpayer disagrees with the results of the audit

IRS employees who interact with taxpayers during an audit

FATCA audits

Types of IRS examinations

Potential IRS audit outcomes

Substitute for returns

Large Partnership Compliance Program

IRS’s shift in audit strategies

Responding to IRS Notices online

Audits of high income and high net-worth individuals

The Bipartisan Budget Act of 2015 (BBA) and its impact on auditing partnerships

IRS Letters of Concern