Seismic changes in tax legislation is currently taking place, and the well-informed tax practitioner will want to attend this two hour monthly program in order to stay abreast of these developments! Approximately one-half of the program is devoted to individual tax issues, and the remaining time is spend on business entity taxation, IRS procedure, tax legislation and other issues. Due to the changing nature of the topic, learning objectives, course descriptions and program content will vary and will be provided in more specificity closer to presentation time. This course provides a concise look at the hottest topics affecting every tax practitioner. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to...
- Recall the most recent changes in auditing, reviews, compilations and other attestation engagements
- Apply practice tips for achieving high quality engagements.
- Recognize updates on enhancing audit quality
- Analyze AICPA’s new Quality Management Standards
- Recognize trends in the practice landscape, how AICPA’s Enhancing Audit Quality Initiative is improving practice quality
- Recall SQMS implementation resources.
Major Topics
The major topics covered in this class include:
- Various types of penalties: Accuracy related, fraud, understatement of valuation, reporting requirement, failure to pay, and pay or deposit penalties
- Rules on waiver of penalties and interests
- Various forms and procedures for requesting relief
- First Time Abatement: Requirements and procedures
- How an individual taxpayer qualifies for Reasonable Cause abatement
- Procedures for requesting refund of paid penalties
- Available administrative options
