2012-2013 IRS Practice & Procedures (Ethics) Update (Currently Unavailable)

Author: Vern H.

Vern discusses the current cases and rules affecting the tax preparer's relationship with the IRS.

Follow along with Vern's 90 page manual containing hyperlinks to important rules and regs, included with purchase.

Course Sponsor:Vern Hoven Tax Seminars:
NASBA Sponsor Number: 108250/QAS Sponsor Number: 041

Designed For
All tax practitioners, both public and industry, who need the latest - and necessary - tax changes for their clients.

Topics Covered

• Understanding the new registration requirements imposed on ALL tax preparers in our office, not just the CPAs and EAs.
• Researching the changes in our ethics, Circular 230.
• Warning that filing an unauthorized extension for a client is a Circular 230 violation.
• Recognizing when identity theft is occurring to our
• Catching up on what's happening in the world of tax shelters and when the huge new economic substance penalties apply.
• Warning that preparers who prepare 11 or more returns a year must e-file those returns.
• Seeing who is being audited — and who isn't.
• Planning what to do when the IRS demands the client's QuickBook files.
• Discussing the numerous methods the IRS uses to reconstruct unreported income.
• Learning about the new W-2 reporting on health insurance benefits.
• Understanding all the other new reporting requirements businesses face under the Health Bill.
• Understanding how careful tax preparers must be when releasing client's tax returns and social security numbers to third parties.
• Discovering that the IRS is supposed to back off of some of their nasty collections practices in this time of financial stress (but many agents haven't gotten the message), and what to do about it.
• Reviewing the rules on taxes in bankruptcy.
• Catching up on why making offers-in-compromises has become even more unattractive.
• Marveling at the IRS's program directed at fraudulent tax preparers.
• Discussing the new, and very aggressive, IRS tactics used against professional tax preparers.
• And closing with a recap of the innocent spouse relief provisions

Learning Objectives

• Recognize key tax changes effective in 2012, affecting tax preparers' and taxpayers' relationships with the IRS.
• Identify numerous tax issues and provisions impacting your own, your clients' and/or your employer's relationship with the IRS.
• Apply various tax rates and computations to scenarios just like those you see in your office, to better prepare you for the upcoming tax season.

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Regulatory Ethics (3 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None