Navigating IRS Audits
Nick Preusch CPA, JD, LLM, is a tax manager with PBMares, LLP. Nick has participated in helping high wealthy individuals and large business entities with complex tax compliance, along with specializing in international, not-for-profit tax issues, and tax ethics issues.
Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nick is a graduate of Carthage College with a BS in Accounting and Business, the University of Connecticut with an MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties, and Circular 230 Enforcement, published by Thomson Reuters. He has lectured nationally on topics such as ethics, complex tax transactions, and IRS practice and procedure. Currently, Nick is an adjunct professor at the University of Mary Washington. Nick has been recognized as the Top 5 under 35 CPAs in Virginia by the VSCPA in 2017, CPA Practice Advisor’s Top 40 Under 40 in 2018, and is a member of the VSCPA’s Tax Advisory Committee, and the AICPA’s Tax Practice and Responsibilities Committee.
This webinar will help you navigate both individual and business audits, taught from the perspective of an IRS agent. This will help you understand what the IRS is actually looking for with different requests and things that they do during the IRS process and will help you be able to respond accordingly. It will also go into different things you can do during an IRS audit to help mitigate potential issues that will arise. We will start with the different types of IRS audits based on how the IRS selects the audits. Depending on IRS audit selection, different paths become available in order to navigate the process.
We will then look at the opening of an audit and information document request. We will determine what information is actually needed and how quickly to provide the information. A discussion of how to tailor the information for IRS purposes will also be examined. Many times in audits, there are disagreements between the agent and the person being audited. This webinar will go through the different remedies available in these situations.
Finally, we will look at the closing of the IRS audits, including methods to go agreed or disagreed. This will include post-audit remedies such as Appeals, Reconsiderations, and Tax Court.
- How the IRS selects returns for audit
- How the IRS audit process begins
- Ways to provide documents to the IRS
- What does not need to be provided to the IRS?
- Navigating the mediation processes in an audit
- Understanding the role of Appeals and Tax Court
Course Level - Intermediate
Who Should Attend
- Business Owners
- Enrolled Agents
Why Should You Attend
There is one thing every American has a fear of, the IRS. No one ever wants to get a letter from the IRS and no one ever wants to go through an IRS audit. This webinar will take you through the IRS audit selection process all the way through the completion of an audit and beyond. This webinar is taught by a former IRS Revenue Agent and attorney to help you get the inside knowledge of navigating an IRS audit both efficiently and to get the best outcome possible. This course will fully prepare you for any IRS audit and help you feel confident about going through individual and business audits.