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
IMPORTANT INFORMATION REGARDING CPE CREDIT: THE IRS RETURN PREPARER OFFICE ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT FOR ENROLLED AGENTS (EA). IF YOU ARE NOT AN ENROLLED AGENT, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.
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.
CPE credit is available for this seminar. If you would like to earn credit for a seminar, you must have an account with the IRS Nationwide Tax Forums Online and purchase the seminar for $49.00. You can purchase seminars one at a time or as a group. After completing the purchase through PayPal, you will be returned to your status page on www.irstaxforumsonline.com. You have one calendar year from the date of purchase to complete the course. NOTE: Purchasing a course via PayPal e-check can take up to 10 business days to post. Your course will only appear in your Status Page after your e-check has cleared.
Navigating a Seminar for CPE Credit
Once you purchase a seminar, it will appear under the “In Progress” tab on your status page. Click on the seminar title to initiate navigation of fully self-directed learning individualized to your pace. Working at a computer at your convenience will provide you the flexibility to start, pause and stop the presentation. You can download and print the seminar’s edited transcript as well as the Power Point slides. Captions may be turned off.
Start the seminar by clicking on chapter one. Once you complete a chapter, navigation will appear at the top of the screen and take you to the first review question, followed by the next chapter, etc. A review question follows each chapter. After you have completed the video and review questions, you must take and pass a final examination. All review and final examination questions are either true/false or multiple choice.
The seminar may be viewed repeatedly; however, the final examination can only be attempted two times. You must achieve a passing rate of 70% to receive CPE Credit. A certificate of completion may be printed for each seminar successfully completed. Prior to printing the certificate of completion, there will be an opportunity to provide feedback on your learning experience.
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Prefer to audit this seminar? Clicking the “Audit” button will take you to chapter one of the seminar. Once you complete a chapter, navigation at the top of the screen will appear to take you to the next chapter. You can download and print the seminar’s edited transcript as well as the Power Point slides. Captions may be turned off. There are no review questions or final examination when auditing a seminar, and there is no credit for auditing a seminar. If you would like to audit this seminar (no cost and no CPE credit), click here