CFO Solutions to IRS Problems

Overview

Many CPAs are becoming full-time or fractional CFOs for small businesses. In that position, they are the resident expert in finances, cash flow planning, and budgeting. But what about dealing with the IRS? The IRS has broad powers to administer the assessment and collection of taxes. From removing penalties to criminal prosecutions, this presentation focuses on how CFOs can prevent problems with the IRS and how to develop winning strategies if the IRS knocks on the door. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

• The authority of IRS in assessing and collecting taxes.
• The common misconceptions when dealing with IRS.
• Common questionable actions by business owners.
• How to prepare for an IRS audit.
• The seven options in IRS collections.
• Possible criminal tax violations by CFOs and small business owners.

Prerequisites

A basic understanding of the responsibilities of a CFO.

Designed For

CFO, controllers, finance professionals, CPAs, and attorneys.

Objectives

• Identify the authority and regulations of the IRS.
• Develop a plan of action to prepare for an audit.
• Recognize questionable tax strategies by owners.
• Develop a plan for unpaid taxes.
• Recognize possible criminal tax violations.

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by CPA Crossings. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.