Internal Revenue Service audits (or “exams” in IRS lingo) are an integral part of the tax compliance landscape. Although statistically few returns are selected for exam each year, this fact tends to be of little comfort to the taxpayer who has won the “audit lottery.” While CPAs cannot do much to prevent a client’s return from being audited, they can perform a valuable service by assuring that the exam is no more of a burden on the client than is necessary and that the client’s rights and interests are adequately safeguarded. Accomplishing this objective begins with a familiarity with the audit process.
• RAR: Revenue Adjustment Report
• Preparing responses
• Accounting for audit adjustments
• Amended state tax returns
• Installment Agreements
• Offers in Compromise
• The Assessment Process
• The Collection Process for seizures and sales of taxpayer property
• The IRS process for seizures and sales of taxpayer property
When you complete this course you will be able to:
• Evaluate IRS audit trends and the audit selection process
• Understand the types of IRS audits
• Determine when IRS requests could be challenged
• Become familiar with the timing, scope, and location of various IRS audits
• Understand IRS audit techniques and inquiries and appeal rights
• Manage the information document request process and evaluate the contents of a revenue agent report (RAR)
• Understand how to update/amend related state income tax returns as affected by the Federal RAR
Cancellation or transfer requests made six(6) business days or more prior to the program, no fee assessed.
Cancellation or transfer requests made two(2) to five(5) business days prior to the program, $25 fee assessed.
Cancellation or transfer requests made one business day prior to the program, $50 fee assessed.
Day of program or no notice of cancellation, 100 percent course fee assessed.
If you transfer from an in-person class course to a webcast, the above policies apply.
Remember, the COCPA reserves the right to cancel a course seven days prior to the program date. Please keep this cancellation policy in mind when making your travel plans and airline reservations. The COCPA will not be liable for flight cancellation penalties due to our cancellation.
To cancel or transfer a course, please contact the Member Services department at 303-773-2877 or 800-523-9082.
Copyright 2012 COCPA
Colorado Society of CPAs
7887 E. Belleview Ave., Suite 200
Englewood, CO 80111-6076