Overview 3.0 Credits ONLINE Recent legislation in Congress has provided the IRS with substantially increased funding to bolster its human staff and purchase software that will allow the IRS to audit many more taxpayers more effectively. The IRS believes it can target the right kinds of taxpayers for audits so that it will not waste its time on audits that produce little if any, revenue. Discuss the current state of IRS audits and the anticipated increases in the IRS’ ability to audit wealthier taxpayers efficiently. Review the state of the IRS’s current audits and where the IRS is headed with audits in the coming years.
Objectives Thoroughly understand the current state of IRS audits Advise clients regarding anticipated changes in upcoming IRS audits
Major Topics Substantially increased IRS funding provided by the Inflation Reduction Act IRS test program in 2024 to determine if it should prepare tax returns Using improved data and analytics to tailor timely collections contacts Auditing large corporations and partnerships Audits of high income and high net worth individuals Information Document Requests What happens when a client agrees or disagrees with the IRS’s audit findings The Dirty Dozen: roadmap to IRS audit issues
Sessions Please select the appropriate session or option below to continue with your online purchase Tuesday, August 13, 2024 General Sessions E-Materials
