Clever Strategies To Reduce CP2000's- 1 CE - Bill Nemeth, EA

 The IRS AUR Income Matching Program sets a flag in the taxpayer's account transcript 5 months before the CP2000 Letter is sent.  By monitoring transcripts, tax professionals can file a voluntary corrected return BEFORE the IRS sends the CP2000 Notice, thus avoiding the possible 20% Accuracy-Related Penalty.   With proper authorization, tax professionals can find the red flags for pending CP2000's.  Learn how to use and file superceding returns.

Presenter:  Bill Nemeth, EA, MBA

30+ Years Tax Professional

GAEA President & Education Chair

NAEA Education Foundation Chair

GAEA is pleased to partner with GAWCPA (Georgia Women CPAs) for this presentation.  NASBA credit is awarded to members of GAWCPA only.

Learning Objectives:

1. Overview of IRS AUR (Automated UnderReporter) Unit Income Matching Program
2. When does AUR Flag a return?  Timing and Formal Letter
3. Difference between CP2000 & CP2501?
4. CP2000 - is it an Audit?
5. Strategies to Identify Income

Prerequisites:

• Prerequisites:  Basic knowledge of Federal Tax
• Program Level:  Intermediate
• Delivery Method: Group Internet Based
• Who should attend:  Enrolled Agents, CPAs, Tax Preparers, Tax Attorneys

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