How the IRS Determines Unreported Income - Video

$ 19.00

How the IRS Determines Unreported Income – Learn the Techniques the IRS Utilizes

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:
Upon successful completion of this course, participants will be able to:

  • 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 

CPE Credit:  1 hour
Level:   Basic
NASBA & IRS Field of Study:  Taxes

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