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Secure Transaction Navigating an IRS Tax Audit
Format
Self-Study
Course Level
CPE Credits
0 Credits: Taxes
Course Description
Navigating an IRS Tax Audit is a three-credit CPE course examining the nature of IRS tax audits, the format they may take and the reasons why any particular tax return might be chosen for audit. It then discusses taxpayer representation before the IRS and the power of attorney needed to engage in client representation.
The possibility of receiving a letter from the IRS requesting documents for a tax audit often produces considerable taxpayer fear. However, an IRS tax audit doesn’t suggest that the IRS has found a significant error or omission on the client’s tax return. Instead, it is only a review and examination of a client’s tax return rather than an indication the IRS has identified the taxpayer as a tax cheat.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Describe the types of tax audits initiated by the IRS and the typical taxpayer issues addressed;
- Recognize how an IRS tax audit is normally conducted and limited by the statute of limitations;
- List the factors that increase the likelihood of an IRS tax audit and strategies to minimize the chance of an IRS tax audit;
- Describe the nature and function of a power of attorney; and
- Identify the acts that may be performed for a client under a power of attorney.
Course Specifics
SS824372124
There are no prerequisites.
None
Compliance Information
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Paul J. Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.
QAS Self-Study
