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Courses/Tax/NASBA - Taxes *

How to Handle Top 10 Issues in IRS Small Business Audits

This course will look at the top 10 issues small businesses face when undergoing an IRS audit.

Created byNicholas Preusch
BeginnerUpdated May 20, 2022
How to Handle Top 10 Issues in IRS Small Business Audits

What You'll Learn

check_circleTo recognize how to explain the Top 10 IRS audit focus areas for small businesses
check_circleTo describe common items that should be in an M-1 Account
check_circleTo discuss strategies to find issues in your GL before meeting the auditor
check_circleTo discuss how to manage personal items in GL
check_circleTo discuss issues faced by S Corps and C Corps if assets are not registered on their name
check_circleTo determine how poor records can lead to additional audits
check_circleTo differentiate between S Corp AAA vs. AE&P
check_circleTo discuss various applicable penalties and possible resolutions
check_circleTo determine how and when to go for an appeal

About This Course

This course will look at the top 10 issues small businesses face when undergoing an IRS audit. It will take a look at the audit from three perspectives, 1) the client, 2) the practitioners and 3) an IRS auditor. We look at these common issues along with ways to maneuver around the issues when the IRS brings them up. After this webinar, you should have a better grasp of helping your client through the most common types of IRS audit problems that you will face.

Field of Study: Taxes

Your Instructor

Nicholas Preusch
Nicholas Preusch
menu_book28 courses
star428 reviews

Nick Preusch’s primary focus is performing tax services for high wealth individuals and mid-to-large business entities. Nick’s responsibilities include tax research related to complex business transactions and tax return preparation and review. He also works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation. He was also an Internal Revenue Service (IRS) attorney at the IRS National Office in Washington, DC, where he was the lead attorney for several significant tax ethics cases. Nick co-authored Tax Preparer Penalties and Circular 230 Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA’s Tax Advisor and Journal of Accountancy along with CCH’s Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA’s Top 5 Under 35. In 2018, he was named to CPA Practice Advisor’s Top 40 Under 40. In 2018, he was part of the AICPA’s New Face of Tax ad campaign. Nick is a licensed attorney in New York and a Certified Public Accountant in Virginia. He earned an LLM in Taxation from Georgetown University, a JD from Case Western Reserve University, and an MS in Accounting from the University of Connecticut.

Credit Information

What Students Are Saying

4.5
Student's Choice
47 reviews

Frequently Asked Questions

We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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