To Access This Course:
A brief review of the judicial system includes a discussion of which court a taxpayer should use when an administrative remedy could not be reached in an IRS audit.
A review of salient court cases includes the following topics:
- Reasonable compensation
- Constructive Dividends
- Determining what is an allowable charitable contribution deduction
- Recognizing gain/loss from the disposition of corporate assets
- Tax Administration issues relating to:
- Misclassification of workers, Sec. 530 relief
- Federal Tax Liens
- Imposition of various penalties, including the accuracy-related penalty, the gross valuation misstatement penalty, and the failure to file/pay penalty
- Claims for refund
This course also discusses how to avoid/minimize common mistakes made on tax returns.
Key Course Concepts: Tax Court Cases, Reasonable Compensation, Sec. 530 Relief, Debt v Equity, Charitable Contributions, Capital Gain v Ordinary Income, Basis in S Corporation Stock, Federal Tax Liens, Valuation Misstatement Penalties, Refund Claims
Learning Objectives
- Discover how the court system works when appealing an unfavorable IRS audit determination.
- Explore how to determine if compensation paid to key employees is “reasonable.”
- Recognize the importance of substantiating business deductions to avoid their disallowance and potential reclassification as constructive dividends.
- Recognize the importance of distinguishing between capital and ordinary gains/losses.
- Discover the requirements for claiming a charitable deduction.
- Recognize the need for “due diligence” when classifying workers as independent contractors rather than employees.
- Explore the role of penalties in the administration of our tax laws.
Last updated/reviewed: July 12, 2019
4 Reviews (26 ratings)Reviews
Anonymous
(Income Tax Senior)
interesting discussion of the judicial tax updates for 2019
Anna Gerstenberger
(Senior Tax Staff at EKS&H)
Cases were well summarized and easy to understand
Hy Harris
(Principal at EKS&H)
Very good update. Instructor did a good job.
Daniel Rodriguez
(Not Provided at Daniel Rodriguez)
really good
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .