When small businesses commit tax fraud they are usually trying to hide revenue and expense personal items as business expenses. In this course we will review the various ways small businesses commit tax fraud. We will discuss the red flags that could be indicative of tax fraud. Current cases from the news will be presented for discussion.
Publication Date: May 2021
Designed For
CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, CPAs, CMA, CIAs and risk management personnel.
Topics Covered
- The Elements of Fraud
- Tax Avoidance versus Tax Evasion
- IRS Tax Frauds 2020
- IRS Dirty Dozen Tax Frauds 2020
- Small Business Entities
- Income Tax Fraud
- Other Common Income Tax Frauds
- Red Flags for Sales Tax Frauds
- Red Flags for Tax Frauds
- Tools for Detecting Tax Frauds
- Internal Controls
- IR”2018”245, December 7, 2018
- Title 26 USC §7201: Attempt to Evade or Defeat Tax
Learning Objectives
- Identify the red flags for tax fraud
- Identify common tax frauds committed by small businesses
- Recognize the reasons people commit tax fraud
- Recognize how keeping one set of books for the IRS and another for the business' owner is known as
- Identify what would not generate an IRS penalty
- Describe red flags for tax fraud
- Identify the Dirty Dozen Tax Frauds for 2020
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.