Master essential techniques to navigate IRS audits for small businesses, ensuring compliance and minimizing risks with practical strategies and expert insights.
This course will look at the top 10 issues small businesses face when undergoing an IRS audit. It will examine the audit from three perspectives:
1) the client,
2) the practitioner, and
3) the IRS auditor.
We will 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 on helping your clients through the most common types of IRS audit problems that they will face.
This course provides an in-depth look at handling IRS audits specifically for small businesses. It covers the entire audit process, from selection to resolution, and offers practical strategies for addressing common issues. You'll learn how to maintain accurate records, prepare for an audit, and respond effectively to IRS inquiries. By understanding the diff score system, the role of revenue agents, and key audit triggers, you'll be better equipped to defend your clients and ensure compliance. Ideal for tax professionals and small business owners, this course combines expert insights with actionable advice to help you manage audits with confidence.
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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.
