Penalty Abatement for Fun and Profit FLEXCAST

Overview

This course is an essential tool for tax professionals seeking to deepen their understanding of IRS penalties and abatement processes. It offers a strategic approach to using the Internal Revenue Code (IRC), Regulations, and the Internal Revenue Manual (IRM) in challenging and mitigating IRS penalties. Participants in this course will gain a thorough understanding of the specific conditions that warrant IRS penalty assertions and the statutory exceptions that apply. This knowledge is crucial in advising clients and safeguarding their interests. The course also provides detailed insights into the IRM rules for penalty abatement, empowering practitioners with actionable strategies to effectively negotiate with the IRS. Additionally, it covers vital aspects of Circular 230, focusing on the rules governing contingent fee agreements and fee limitations, ensuring compliance and ethical practice. This course is not just about learning; it’s about empowering you with practical, applicable knowledge in the field of tax law.

Highlights

When the IRS can assert various penalties. Statutory exceptions to penalty assertion. IRM rules for penalty abatement. Circular 230 rules for contingent fee agreements and limitations on fees.

Prerequisites

None.

Designed For

CPAs and tax professionals.

Objectives

When can IRS assert various penalties. Statutory Exceptions to penalty assertion. IRM Rules for penalty abatement. Circular 230 rules. Contingent fee agreements. Limitations on fees.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.