Prepare for audits of individuals' Schedule A, Schedule C, and Schedule E for rentals plus S corps, C corps, partnerships & LLCs. For rentals and businesses, we need to be able to analyze taxpayer records to support gross proceeds reported and substantiate business expenses. We'll review unique issues related to different expenses, including home office and auto expenses. For Form 1040 we'll discuss challenges of supporting large tax losses and consider an individual's exposure on Schedule A, including medical, mortgage interest, and charity. Understand tax situations that may create a greater risk of audit and areas of interest for IRS audits.
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN cardPublication Date: July 2024
Designed For
Tax professionals representing clients for audits.
Topics Covered
- Types of IRS Audits
- Other Expenses
- Audit Considerations for S Corporations
- Audit Considerations for Partnerships and LLCs Taxed as Partnerships
- Negotiating with the Auditor
- IRS Audit Procedures
- Audit Finesse
Learning Objectives
- Identify how to analyze and substantiate gross receipts for rentals and businesses
- Identify how substantiate and help the client make the case for expenses claimed
- Identify how to support deductions for office in the home, auto expenses, meals and travel
- Identify Schedule A audit issues and how to address them
- Identify practices for representing clients in challenging rental and business audits
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Jane Ryder
Jane Ryder, EA, CPA, is a nationwide professional educator.Jane Ryder, EA, CPA writes and speaks nationwide on many tax, compliance, representation and accounting topics. She runs her full-service CPA firm in San Diego, California and has been providing tax, accounting, representation and tax collection services since 1980.