Penalty Games: Reducing IRS Penalties

  EVENT DATE

August 12, 2020

  PRESENTER(s)

Robert E. McKenzie, REVIEWER(s)- Eric L. Green

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 120 Minutes


* Not able to attend the live session? We can arrange an on-demand session for You. Please call 1-‪814-892-0304


DESCRIPTION



Each day the Internal Revenue Service asserts millions of dollars in tax penalties against taxpayers.  Many of those penalties are subsequently abated because of quality representation by experienced practitioners.  This class will cover the basics of supporting reduction of IRS tax penalties.  After this class, you should be able to substantially reduce many tax penalties asserted by the Internal Revenue Service against your clients.

Learning Objectives:

  • Reasonable Cause
  • Ordinary Business Care and Prudence
  • Internal Revenue Service Preferred Reasons for Abatement of Penalties
  • A practical approach to seeking abatement of penalties

Session Highlights:

  • Origins of Tax penalties
  • What is filed return and bad checks
  • What happens and what are the penalties if you fail to file tax returns or pay tax
  • How to compute penalties
  • What happens when you fail to deposit penalties
  • Cascading penalties according to IRC Sec. 6656
  • What are the reasons behind penalty relief
  • What is reasonable cause and what are the exceptions to the cause
  • When is a reasonable cause assistant needed
  • What happens during first time abatement
  • Case exhibits (case studies) as a learning tool

After this class, you should be able to substantially reduce many tax penalties asserted by the Internal Revenue Service against your clients.

Who Should Attend?

  • CPA's
  • Tax Attorneys
  • Accountants
  • Tax Compliance Managers
  • Other Tax Professionals

Session Prerequisites and preparation: None

Recommended CPE credit – 2.0

Recommended field of study – Tax

Session learning level: Basic to intermediate

Delivery method: Group Internet Based


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Pioneer Educator 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.




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