- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 1.0
Correspondence from the Internal Revenue Service (IRS) is rarely desired, especially a notice indicating the intent to audit a tax return. This course describes the audit process, including how returns are selected for audit, ways the IRS notifies the taxpayer of the intent to audit, methods available to the IRS to complete audits, and possible outcomes of a tax audit. Learn the top red flags that trigger an IRS tax audit for individual taxpayers and other entities. Understand the examination rate among individual taxpayers based on income level, credits claimed, reportable business income, and international transactions. Furthermore, delve into how entities organized as corporations, flow-through entities, and estates are commonly selected for a tax audit.
This basic level course is most beneficial to professionals new to federal tax audits who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to federal tax audits.
Upon successful completion of this course, the user should be able to:
describe the IRS examination process,
identify top red flags for an individual tax return audit, and
describe top red flags for entity tax return audits.