Providing a practical overview of the IRS Power of Attorney, Form 2848, and IRS Tax Information Authorization, Form 8821. Participants will explore the differences between these forms, understand when each is required, and how to comply with IRS requirements for representing clients and accessing their tax information. The course will cover practical issues, ethical considerations, and best practices for managing client authorizations through the IRS Centralized Authorization File (CAF) system. 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...
- Identify and interpret the most common IRS letters, including general notices, audit requests, collections, return inquiries, and error notices.
- Recall IRS deadlines and the importance of timely and accurate responses.
- Apply effective communication strategies when corresponding with the IRS.
- Proactively address IRS concerns to avoid escalation and penalties.
- Ensure compliance with IRS requirements when responding to correspondence.
- Assess common issues that arise from IRS letters and develop resolution strategies.
- Advise clients on their rights and responsibilities when dealing with IRS correspondence.
- Implement documentation and tracking practices to manage IRS responses effectively.
Major Topics
The major topics that will be covered in this course include:
- Industrial hemp vs. marijuana.
- Income definitions under I.R.C. §61.
- Tax code restrictions: §280E and §471.
- State-specific marijuana laws.
- Cash management in cannabis businesses.
- Federal court case analysis.
