Attend this ondemand webinar and find out what penalties you may be subjected to and how to minimize that risk.
Tax practitioners face increasingly complicated tax systems. Risk of error increases along with the risk of penalty assessment. This ondemand webinar reviews the federal tax penalties relevant to tax practitioners and how to avoid them. Coverage includes the preparer penalty, how and when it applies, how the IRS assesses it and tips for avoiding it. Other penalties are also reviewed to provide the fuller context of what you must do to reduce exposure to any penalty or violation of a professional rule of conduct. Examples will be covered throughout the presentation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview
- Nature of the Various Penalties Applicable to Preparers
- Key Penalties Relevant to Clients
Preparer Penalty of IRC ยง6694
- Background
- Basics of the Penalty Calculation
- Who Is a Preparer?
- Signing vs. Nonsigning Preparer
- Standard of Care Necessary to Avoid the Penalty
- Assessment Process
- Examples
Other Penalties
- Penalties Related to Tax Return Preparation
- Penalties Not Solely Related to Return Preparation
Additional Considerations
- Circular 230
- Professional Rules of Conduct
- Areas of Extra Scrutiny
- Exceptions for Reasonable Cause
Tips for Avoiding Penalties
- Client Relations
- Due Diligence
- Common Sense
Summary and Questions and Answers
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 25, 2015.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Annette Nellen, CPA, CGMA, Esq.
San Jose State University
- Professor at San Jose State University
- Professor in and director of the SJSU MST Program
- Prior to joining SJSU in 1990, was with the IRS and EY
- Active member of the Tax Sections of the AICPA, ABA and California Bar
- J.D. degree, Loyola Law School; M.B.A. degree, Pepperdine; B.S. degree in accounting, CSU Northridge
- Can be contacted at http://www.sjsu.edu/people/annette.nellen/ or http://www.21stcenturytaxation.com
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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