IRS Practice Series: Computing Or Recalculating IRS Assessments For Interest & Penalties
Authored by Eva Rosenberg
About this Course
Topics covered include:
Introduction to penalties and their purpose;
Dealing with Proposed Penalties;
Dealing with Assessed Penalties;
Penalties in Detail;
Preparer Penalties;
Recomputing and Reducing Penalties;
Career Reducing Penalties;
Resources.
Upon completing this course, you should be able to:
Recognize methods for reducing penalties and interest on assessed tax balances;
Identify the first in the tax penalty abatement process;
Describe tactics to get penalties abated when the IRS proposes a penalty and the taxpayer then has time to convince the IRS that the penalty is not warranted;
Recognize the primary reason penalties exist;
Identify which penalty relief criterion includes those cases that clearly have the law in the client's favor;
Evaluate the importance the IRS place on the taxpayer's actions once the facts and circumstances changed and what attempt the taxpayer made to comply;
Differentiate qualifying types of illness or disability;
Recognize the Internal Revenue Service's (IRS) stated purpose of assessing penalties to taxpayers;
Identify what can result in tax penalty abatement most of the time;
Evaluate methods of abatement not included in penalty assessments but may prove effective;
Recognize reasons the IRS may consider a Special Circumstance;
Evaluate the statute of limitation on tax assessments for fraudulent; returns;
Identify how many separate IRS penalty provisions exist;
Recognize when the IRS will abate penalties;
Identify the penalty for a payroll tax deposit that is 2 days late;
Evaluate circumstances when interest would not be disregarded for a period of time;
Recognize reasons for not abating penalties not outlined;
Identify mistakes take from other explanations;
Illustrate how to prove you received oral advice from the IRS;
Describe undue hardship;
Identify circumstances where the IRS must accept a form as being timely filed.
$ 17.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Knowledge in Interests and Penalties.
Last Updated
08/30/2018
14339
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