How to Handle the Top 10 Issues in an IRS Small Business Audit (Completed)

Date: Tuesday, May 30, 2023
Instructor: Jim Buttonow
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

According to IRS tax gap studies, small businesses account for largest segment of the $458 billion annual loss in tax revenue to the US Treasury, largely due to the underreporting of income and overstating of credits and deductions. As a result, the IRS field audit resources focus much of its audit activity on small businesses.

This course identifies which businesses the IRS mostly targets in small business audits. You will understand the scope of IRS small business audits and the issues the IRS targets in these examinations. Learn about the IRS’ audit steps in examining income and which records it expects in an examination.

This course will also help you prepare for your client’s small business audit. Preparation is critical to a successful outcome in your client’s small business audit. Get critical insight on preparing your client’s records for an audit and anticipating all of their questions and audit steps in the audit.

Who Should Attend
All tax professionals who have small business clients and want to be prepared in case their clients have an IRS audit.

Topics Covered

  • The IRS interest in small businesses
  • The IRS field audit process
  • The top ten small business audit issues/targets
  • Best practices in dealing with an IRS small business audit, including steps to prepare for the audit

Learning Objectives

  • Describe the reasons for compliance focus on small businesses
  • Recognize how to explain the Top 10 IRS audit focus areas for small businesses
  • Describe how to evaluate your client's records and identify the critical records in every IRS small business audit
  • Identify the steps to prepare for a small business audit


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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