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AUDITS OF CASH INTENSIVE BUSINESSES

Cost Free   CPE Credits 1.0 hour   Subject AreaTaxes  Course LevelBasic  Instructional MethodGroup Internet Based  PrerequisitesNone  Advanced PreparationNone  Who should attend? CFO / Controller
CPA - small firm
CPA - medium firm
CPA - large firm
Small Business Owner 
Series: Courses for CFOs and Controllers 
Course Description

The IRS defines a cash intensive business as one that receives a significant amount of receipts in cash. This can include restaurants, convenience stores, liquor stores and other businesses that handle a high volume of small dollar transactions. The IRS estimates that noncompliance by cash intensive businesses accounts for a significant portion of the annual tax gap. Therefore, it is not surprising that the IRS has an audit program designed to evaluate tax compliance for these businesses.

This webinar will introduce attendees to: (1) the Service’s various audit techniques for cash intensive businesses; (2) audit techniques used by state taxing authorities; (3) strategies for evaluating clients books and records to ensure compliance; and (4) strategies for reducing potential increases in tax resulting from an audit.

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Michael Wallace, E.A. is an Enrolled Agent with Agostino & Associates, P.C., assisting the team of attorneys with various tax controversy matters. Prior to joining Agostino & Associates, Mr. Wallace worked in the pharmaceutical industry in finance and compliance operations. Mr. Wallace has worked in the field of tax as a preparer, instructor and taxpayer representative. Mr. Wallace earned his B.S. degree in Accounting from Rutgers University.

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Presentation Slides
Frequently Asked Questions
  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.

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NASBA Approved

CPAwebengage, Inc. (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAwebengage Inc. 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

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McCarter & English, LLP is a firm of approximately 400 lawyers with offices in Boston, Hartford, Stamford, New York, Newark, East Brunswick, Philadelphia, Wilmington and Washington, DC. In continuous business for more than 170 years, we are among the oldest and largest law firms in America.