Understanding Forfeitures for CPAs
Author: Randall P. Andreozzi
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
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
The federal government has become increasingly aggressive in seizing and forfeiting assets, financial accounts, and even entire businesses in both the civil and criminal contexts. This course provides practical insights and important updates to enable CPAs and Enrolled Agents to help their clients avoid asset forfeitures, defend against them, and navigate through receiverships and seizures of business and personal assets.
Publication Date: June 2024
Topics Covered
- Introduction to Forfeitures
- IRS Initiatives Suggest More Forfeitures
- IRS/DOJ Forfeiture Policies and Procedures
- Forfeiture Crimes/SUAs
- Avoiding Forfeiture Risks in Audits
- Avoiding Accountant/Enrolled Agent Liability Risks
Learning Objectives
- Recognize financial misconduct that may lead to asset forfeitures
- Recognize circumstances raising risks of asset forfeitures
- Identify how to avoid tax reporting pitfalls when addressing potentially illegally sourced funds
- Recognize IRS Civil and Criminal Initiatives focusing on foreign financial assets, cryptocurrency, cannabis businesses, and tech crimes
- Identify strategies to navigate and efficiently comply with government receiverships and seizures
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
