Representing a Client in an IRS Audit

Overview

Recent legislation in Congress has provided the IRS with substantially increased funding to bolster its human staff and purchase software that will allow the IRS to audit many more taxpayers in a more effective way. The IRS believes it can target the right kinds of taxpayers for audits so that it will not waste its time on audits that produce little, if any, revenue. The purpose of this program is to discuss the current state of IRS audits and the anticipated increases in the IRS’s ability to audit wealthier taxpayers in an efficient way. The course will discuss the state of the IRS’s current audits and where the IRS is headed with audits in the coming years. Tax practitioners should also be aware of the state of the IRS’s efforts to target efficiencies so as to produce the most revenue.

Highlights

• Substantially increased IRS funding provided by the Inflation Reduction Act
• IRS test program in 2024 to determine if it should prepare tax returns
• Using improved data and analytics to tailor timely collections contacts
• Auditing large corporations and partnerships
• Audits of high income and high net worth individuals
• Information Document Requests
• What happens when a client agrees or disagrees with the IRS's audit findings
• The Dirty Dozen: roadmap to IRS audit issues

Prerequisites

None

Designed For

Accounting and finance professionals advising clients with respect to an IRS audit

Objectives

• Thoroughly understand the current state of IRS audits
• Advise clients regarding anticipated changes in upcoming IRS audits

Notice

All materials will be available to download in advance and participants will receive an email two days prior to the course date. Materials will also be posted in the “My CPE” section of the NESCPA website.