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Sobel unreported

HOW THE IRS DETERMINES UNREPORTED INCOME

CPE Processing Fee$10.00  Webinar TranscriptionN/A     Presentation Length Hour(s)1.0 hour  CPE1.0  Subject AreaTaxes  Course LevelBasic  Instructional MethodQAS Self-Study   PrerequisitesNone  Advance PreparationNone  Recorded DateDec 17, 2016  Date OfferedDec 17, 2016  Series: Taxes    
Course Description

The IRS is not limited reviewing only a taxpayer’s books and records to verify income. IRS examiners are allowed to use specific income approaches and alternative methods to propose adjustments. This class will help practitioners to understand the approaches the IRS uses and provide them with adequate defenses for their clients.
The following topics are discussed in detail:
• Return selection process: how to avoid unnecessary examination
• Setting the scope of examination with the IRS examiner
• In-depth analysis of the source and application of funds method, cash transaction analysis, and the net worth method used to determine unreported income.

Learning Objectives

  • Learn how to provide the best advice for clients.

  • Identify the most common errors the IRS makes in verifying income.

  • Prepare adequately for an IRS examination of reported income.

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Frequently Asked Questions
  • CPAacademy self-study courses are online.
  • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
  • Print your own certificate of completion on the spot upon passing the exam.
  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Stuart “Stu” Sobel combines an in-depth knowledge of taxation and nonprofits with an ability to communicate clearly. A dynamic speaker, Stu seeks to help people understand the very complex world of taxation in every day terms. And he’s just the person to do it — Stu has been in the industry for 48 years. He worked in examination and high level positions at the IRS for 30 years. Following that, Stu spent nine years as the producer and host of his own nationally syndicated radio program called Wise Choices: Taxes and Charity Today. He also ran his own tax and nonprofit consulting firm for 12 years (Stuart Sobel Consulting, Inc.). He has helped create over 2,500 nonprofit organizations worldwide. His expertise on the topic of nonprofit taxation has earned him the title “The Guru of Giving.”

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The Tax Media Store is a Tax Media Marketplace featuring a large library of tax education videos and books from tax and nonprofit expert Stuart P. Sobel.