Penalty abatement is a technique that tax practitioners can utilize to help their clients reduce penalties and interest they owe to the IRS if the taxpayer can prove "reasonable cause". This informative and insightful webinar will provide you with some insider tips, practical steps and effective strategies to help your client manage IRS tax penalties and interest. Learn about various types of penalties that you may face, and the various forms and procedures used for requesting penalty and interest abatement, including First Time and Reasonable Cause abatement. Plus, learn about the procedure to follow when requesting refund of paid penalties. 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...
- Stay in compliance with ethics requirements
- Recall recent standard-setting projects and changes to the AICPA Code of Professional Conduct
- Analyze the regulatory requirements created by other state boards of accountancy, the National Association of State Boards of Accountancy, and recent regulatory initiatives
- Apply these standards in practice.
Major Topics
The major topics covered in this class include:
- CECL for nonfinancial institutions.
- Accounting for Paycheck Protection Program loans.
- Accounting for web-hosting services.
- Revenue recognition.
- Leases.
- FASB projects in progress.
