IRS Audit Technique Guide: Exploring the Entertainment Industry

Author: Susan Harper

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 card

Audit Technique Guides (ATGs) help IRS examiners during audits by providing insight into issues and accounting methods unique to specific industries. While ATGs are designed to provide guidance to IRS employees, they are also useful to small business owners and tax professionals who prepare returns.

ATGs explain industry-specific examination techniques and include common, as well as, unique industry issues, business practices, and terminology. Guidance is also provided on the examination of income, expenses, and recordkeeping.

Explore the ATG for the Entertainment Industry with Susan Harper, Certified Fraud Examiner, and former IRS Internal Revenue Agent for more than 30 years. With more than 20 years instructing CPE courses, Susan will deliver an “entertaining” and informative discussion involving the entertainment industry.

Publication Date: July 2024

Topics Covered

• Overview
• Relevant Terms
• Income Issues
• Capitalization and Cost Recovery
• Travel and Entertainment
• Recordkeeping
• Personal Expenses
• Music Business
• Songwriters
• Publishers
• Live Performers
• Managers
• Videos

Learning Objectives

• Identify the activities encountered involving individuals in the entertainment industry
• Identify issues and terminology pertinent to individuals in the entertainment industry
• Identify audit techniques which may be used by IRS examiners
• Identify the type of film industry employee categorized as “above the line”
• Identify the IRC that includes special rules for certain musical works & copyrights

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour), Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None