AICPA's Tax Staff Essentials, Level 4 – Tax Manager/Director
This comprehensive, integrated curriculum provides tax training for four different experience levels – New Staff (Level 1), Experienced Staff (Level 2); Tax Senior/Supervisor (Level 3); and Tax Manager/ Director (Level 4).
This course is part of Tax Staff Essentials, Level 4 – Tax Manager/Director contains the advanced technical level of training your firm needs to maintain and improve its core competencies. As your firms leaders expand their levels of expertise, so does your firm expand its ability to offer its professional services to new and existing clients.
Internal Revenue Service audits (or “exams” in IRS lingo) are an integral part of the tax compliance landscape. Although statistically few returns are selected for exam each year, this fact tends to be of little comfort to the taxpayer who has won the “audit lottery.” While CPAs cannot do much to prevent a client’s return from being audited, they can perform a valuable service by assuring that the exam is no more of a burden on the client than is necessary and that the client’s rights and interests are adequately safeguarded. Accomplishing this objective begins with a familiarity with the audit process.
- Types of IRS audits
- The audit process
- RAR: Revenue Adjustment Report
- Preparing responses
- Accounting for audit adjustments
- Amended state tax returns
When you complete this course you will be able to:
- Evaluate IRS audit trends and the audit selection process.
- Understand the types of IRS audits.
- Determine when IRS requests could be challenged.
- Become familiar with the timing, scope, and location of various IRS audits.
- Understand IRS audit techniques and inquiries and appeal rights.
- Manage the information document request process and evaluate the contents of a revenue agent report (RAR).
- Understand how to update/amend related state income tax returns as affected by the Federal RAR
Prerequisite: Basic knowledge of general proceedings of IRS audits
Advanced Preparation: None