IRS Penalties, Collections & Audits

After successfully completing this course, you'll be able to:

• Calculate a failure to file tax return and failure to pay penalties.

• Calculate a failure to deposit employment taxes penalty.

• Choose a potential remedy that would apply to a failure to deposit employment tax penalty based on the taxpayer's situation in failing to make the deposit.

• Determine which disclosure approach is proper to avoid a preparer accuracy penalty as it relates to reporting income on a client's tax return.

• Calculate the penalty amount for a preparer penalty.

• Recognize the definitions of tax, interest and penalty abatements including what form to file to request an abatement of these penalties.

• Determine the statute of limitations that would apply based on the client's filing status.

• Recognize what initial processes should be completed related to the initial client interview for an IRS collections engagement.

• Recognize the potential disadvantages of filing an Offer in Compromise.

• Recognize the steps for filing an Offer in Compromise.

• Choose the method to file for an installment agreement based on how payments will be rendered and calculate the appropriate filing fee for this filing method.

• Determine which installment agreement review applies based on the taxpayer's filing status and the amount of tax due including an overview of the standard IRS installment agreement process.

• Determine what steps should be considered during an initial audit client engagement meeting including basic techniques that should be employed to support effective progress of the audit process.

• Determine what steps should be considered in preparing for the initial audit meeting with the IRS examiner to assist in supporting your client's tax return filing.

• Determine what steps should be considered during the initial meeting with the IRS examiner to assist in negotiating and supporting your client's position.

• Determine what steps should be considered after the audit meetings have been completed to assist in keeping the audit progressing to a conclusion.

• Recognize the definitions of partially agreed and un-agreed audits, the forms used in these situations and an overview of the appeals process. 

• Recognize basic potential techniques to interact with an IRS auditor during a business tax examination to assist in the efficient progress of the audit.

• Determine the potential influences of a decision to appeal a tax audit including an overview of the appeal's request process and taxpayer rights.

• Recognize the definitions of liens and levies and the common methods to release liens and levies.

Additional Course Information: