EA Exam Prep Part 3: Audit 101 (Currently Unavailable)

Author: Eva Rosenberg

This is the fourth class of the EA Exam Prep Part 3 series. It happened. Your client received a letter from the IRS. While they panic, you remain calm, because TaxMama® has equipped you to deal with this situation. In this course, take an in depth look at audits, how to handle them, and your role as an Enrolled Agent. Walk through the process of the examination of a return. Learn about audit triggers, resources to assist you, what the IRS wants, practice tips, and more. Find out what to do if your client agrees, or disagrees, with the proposed changes. Discover how to stop interest from accruing, how to get interest abated, and why you should use deposits.

Publication Date: October 2019

Designed For
Tax practitioners of all levels, regardless of experience, who want to learn about practicing before the IRS and more. Excellent training for staff working in tax offices, accounting practices, corporate settings, independent bookkeepers, and others who must proofread tax returns containing this information. Passing the EA exam, they will be able to pull client records and transcripts and relieve the tax preparers from routine tasks. This is more than just a basic course. This course provides an in-depth look at audits. It is especially helpful to those with no hands-on experience with IRS audits and tax representation and those who are returning to tax preparation after years in corporate or other jobs. This course is also designed to help CPAs earn their Enrolled Agent credential so they can practice anywhere in the country without re-certifying.

Topics Covered

• Examination of returns
• DIF (Discriminant Function System) Scores
• Audits
• Free resources
• Taxpayer Advocate Service
• Office of the National Ombudsman
• Change of venue for audits
• Upcoming changes to audits
• Repeat examinations
• Confidentiality privilege
• The Kovel arrangement
• Abusive tax shelters
• The examination process
• The role of an Enrolled Agent during audits
• Information the IRS wants
• The best way to have a successful audit
• Agreeing with proposed audit changes
• Disagreeing with proposed audit changes
• Audit practice tips
• Fast track mediation
• 30-day letter, Notice of Proposed Income Tax Deficiency
• 90-day letter, The Statutory Notice of Deficiency
• Suspension of interest and penalties
• 6 year statute
• Items the IRS will not suspend
• Improperly assessed interest
• Unreasonable delays
• Abatement of Interest
• The Ministerial act
• The Managerial act
• How to stop interest from accruing
• Using deposits vs. payments

Learning Objectives

• Identify audit triggers
• Recognize the audit process
• Differentiate between the 30-day letter and the 90-day letter
• Identify the benefits of using deposits over payments
• Identify the confidentiality privilege
• Recognize steps to take when agreeing or disagreeing with proposed changes
• Identify the role of an Enrolled Agent in the audit process
• Identify ways to stop interest from accruing
• Recognize how to get interest abated

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None