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2022 Defending Against IRS Audits of Closely Held Companies, Part 1

Total Credits: 1.2 Self Study

Practice Area:
Audio and Video


Recording available after original program date, 9/20/2022

This program will provide you with a practical guide to defending closely held businesses and owners against IRS audits and collection activity. The program will discuss counseling clients about what to expect in the process and preparing their documentation for review.  It will also cover assessing their potential liability and preparing strategies accordingly.  The differences between income and employment tax issues will also be covered. This program will provide you with real world guide to defending against IRS audit and collection activity of closely held companies. 

Day 1:
•    Ascertaining the IRS’s goals and determining a reasonable range of settlements
•    Types of settlements and IRS settlement standards
•    Appeals process and rates of success at each level
•    Negotiating an audit settlement in anticipation of collections
•    Collections process, defenses, and forms of penalty

Day 2:
•    Counseling clients about the scope and nature of IRS collection activity
•    IRS use of asset freezes – cash and liquid assets
•    Liens and levies – and how to obtain releases
•    Obtaining injunctive relief from collection activity
•    Interrelationship of bankruptcy law and collection activity

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics, elimination of bias or Kansas credit.


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