Federal Tax Procedures & Lessons from Recent Tax Cases [FTXP/LRTC]

Aug 22, 2012
Time: 8-4

Subject:

Tax

Credit Hours:

8.00

Price:

Member: $295.00
Non-member: $445.00

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Discussion Leader: Dennis Gerschick

Website registration for this course closes on August 15, 2012. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

Federal Tax Procedures and Lessons from Recent Tax Cases

August 22, 2012

Location:
Alaska Society of CPAs
341 West Tudor Rd. #105
Anchorage, Alaska

$295 Member Fee
$445 Non Member Fee

The morning session will provide and overview of the life of a civil tax controversy before litigation. It begins with an IRS audit and continues through the IRS appeals process. Many CPAs and in-house accountants cannot keep up with the continuous stream of new court decisions that affect their tax practice or business. This afternoon session will review numerous recent tax cases Most of the cases review will be from the U.S. Tax Court. However, decisions from other federal courts and the U.S. Supreme Court may also be included. The instructor will review the facts, issues and the holding in each case. More importantly, he will emphasize the lesions that can be learned. Tips on what the parties could have done to better position themselves to win the case will be given.

Learning Objectives: Morning Session
Highlight the current hot audit issues the IRS is currently pursing
Describe how to prepare a client for the audit process and the IRSs new letter audit process
List the taxpayers rights and obligations
Assess the negotiation strategies the practitioner should employ
Examine alternatives such as offers in compromise or installment agreements
Assess whether bankruptcy is ever an alternative
Explain the collection options available to the IRS
Examine what can be done to fight an IRS lien or levy
Note the lessons to be learned from court cases and IRS rulings

Learning Objectives: Afternoon Session
Explain in detail what taxpayers did right to win their case
Highlight the mistakes taxpayers made to cause the loss of their cases
Note the issues that were addressed and the issues that were not
Point out the holding in each case and the courts reasoning behind it
Analyze the courts reasoning and the lessons to be learned from it
Explain various penalties that were imposed
Describe various defenses that were asserted against a penalty

Who Will Benefit:
CPAs
Level of Knowledge: Update
Prerequisite: None
Advanced Preparation: None
Credits: 8
Field of Study: Tax
Acronym: FTXP/LRTC
Discussion Leader: Dennis J. Gerschick, CFP, CPA, PFS, J.D.
Dennis is an attorney, CPA, Chartered Financial Analyst and Venture Capitalist. Dennis earned his degree from Florida Atlantic University and worked for Ernst and Young before attending law school. After graduating from Drake University Law School in 1983 he worked in the tax department of Powell, Goldstein, LLP. In addition to speaking at seminars, he provides financial, business and investment advice to individuals and companies through Gerschick Wealth Management, LLC. Mr. Gerschick has served the AICPAs Business Valuation Subcommittee where he worked with some of the countrys recognized experts in the business valuation area.