Cohan or Bust: How to Reconstruct Missing Information (Completed)

Date: Thursday, July 9, 2020
Instructor: Eva Rosenberg
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Reconstructing Tax Information when Records Aren't Complete--What Works?
Give my Regards to Broadway! Can’t you just hear George M. Cohan belting that out on Vaudeville stages and old records? Cohan wasn’t just famous as a performer, but also for a landmark case about keeping records for tax purposes. In this two-hour CPE webinar, experienced practitioner and instructor Eva Rosenber will teach you how to use Cohan v Commissioner to your client’s advantage and when it just won’t work. And, in those instances where Cohan won’t protect your client, we’ll show you what can.

Who Should Attend
Practitioners at all levels regardless of practice concentration, whose clients don’t keep adequate records, or have had their records destroyed, confiscated, or lost for any reason whatsoever.

Topics Covered

  • History of the Cohan Rule
  • IRC 162 — Ordinary and Necessary
  • Limitations on the Cohan Rule under present law
  • Reconstructing records from the Cloud
  • Getting data from third-parties
  • When affidavits from associated persons, businesses, clients, etc. can help
  • Playing detective - proving costs based on Social Media or other clues.
  • Reconstructing costs based on common sense
  • Court cases

Learning Objectives

  • Recognize the logic behind the Cohan Rule and how to applies to your clients
  • Identify when the courts will reject the Cohan argument and why
  • Differentiate how to reconstruct client records, seemingly from thin air and how to stand up to IRS and court scrutiny
  • Describe when your client is better off without records or deductions


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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