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Cherie Hennig, Professor
This former IRS revenue agent is now an author and Professor, teaching tax courses at the University of North Carolina, Wilmington, Florida International, Colorado State, the University of South Florida, and Virginia Tech
This instructor has 23 courses »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: May 20, 2022
9 Reviews (45 ratings)Reviews
Sherman Bamford
(Accountant at Carilion Clinic)
This course involves review of court cases centered around five or six main "themes" of corporate tax law. The professor does an excellent job highlighting some of the most important concepts in tax law.
Craig Campbell
( at National Reconnaisance Office)
Course was well structured. Area is not my bailiwick so it was very interesting and informative to me.
Eugene Rura
(Manager Finance at Saputo DF USA)
Very interesting cases, a good overview of issues heard by the courts
Anonymous
()
Nice update. Materials do a nice job of supporting the objectives.
Anonymous
(Income Tax Senior)
interesting discussion of the judicial tax updates for 2019
Alice Jeanna Yu
(title at bank)
helpful and interested, good course with examples provided
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 .