A Day in the Life of an Exempt Organization’s Audit
Target Audience: CPAs, EAs, RTRPs
Field of Study: Taxation (NASBA); Federal Tax (IRS)
Seminar Level: Beginner
IRS COMMUNICATIONS AND LIAISON 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.LEARNINGMARKET.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN ORLANDO, FLORIDA, ON JULY 12, 2011, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Exempt Organizations office of the Tax Exempt and Government Entities division delivered this seminar at the IRS Nationwide Tax Forum in Orlando, Florida, in July 2011.
Did you know that section 501(a) of the Internal Revenue Code exempts certain types of organizations from paying federal income tax? Did you also know that the IRS maintains a robust audit (examination) program of these organizations? Attend this seminar to learn all about the particulars of audits conducted by the IRS office of Exempt Organizations, including answers to questions like these: What makes them different from "regular" IRS audits? How can I best prepare myself and my exempt organization clients if they are notified that an IRS examiner is coming? As a bonus, this session will profile the Tax Exempt and Government Entities (TE/GE) operating division. In addition to Exempt Organizations, TE/GE's other four offices serve unique sets of customers. Learn about these TE/GE offices and how and when you might engage with them in your practice.
By the end of this presentation you will:
- Learn all about the particulars of audits conducted by the IRS office of Exempt Organizations
- Know how to best prepare yourself and your exempt organization client if it is audited
- Learn the difference between correspondence examination and field examination
- Understand the field examination process
No prerequisites or advanced preparation are required for this seminar.