The webinar will discuss how to conduct a correspondence audit with the IRS, especially in times of a backlog. Our case study involves a single mom with head of household and child tax credit audit
Objectives:
1) Discuss the correspondence audit
a) What it is, what is the IRS looking for
b) Timeline for this is short - communicate with client upfront
2) Discuss how to interview your client and do pre audit work
a) Reviewing the taxpayer’s documentation--do they have a case?
b) Engagement letter and deposit
c) Interviewing the taxpayer
d) Form 2848 & initial IRS contact
e) Pulling transcripts
3) Discuss client records
a )Dependent records, proving head of household
b) Always make copies!
4) Putting together your report for the IRS
a) Clear report written for correspondence auditor--spell it out for them
b) Attachments--numbers with SSN., have a table of contents
c) Put in order of your letter for evidence
5) Sending to the IRS
a)Fax or mail
b)Document either way
c)Timeline
6) Discuss how to conclude a case
a)Agreeing with findings
b)Options when you don’t
c) How to end things with client
This webinar qualifies for 2 IRS CE/2 NASBA CPE Credit.
Chester, New York based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS special enrollment exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at...
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