IRS Hot Topics by Eide Bailly

This webinar will discuss key developments in individual and business taxation over the last year. Learn about the current IRS areas of focus in examination and appeals that may be of interest to business owners. We will also briefly discuss the impact of the election on the IRS and potential upcoming tax legislation. In addition, we will explore updates and issues stemming from the COVID-19 outbreak and changes to IRS procedures, including limits on information requests and examination enforcement.

Learning Objectives:

• Discuss the impact of new partnership audit rules in the post-TEFRA era; opt-out or opt-in?
• Tax reform challenge and strategies: how is the IRS interpreting the latest strategies?
• Explore the current status of IRS exam resources; new LB&I campaign update.
• Review the process of an examination and the keys to presenting and protecting your evidence.
• Identify the issues commonly raised by the IRS, including reasonable compensation, large losses, material participation and related party transactions.
• Discuss the IRS Global High Wealth exam team that audits high wealth taxpayers.
• Explore new IRS rules regarding required disclosure of captive insurance.
• Review IRS issues involving Donor Advised Funds and IP Monetization.

Presenters:
Margarita Stone, J.D., LL.M., Senior Manager, Tax Controversy and Procedure | Eide Bailly
Margarita has more than 14 years of tax experience specializing in federal tax, controversy and procedure. She represents clients before the IRS and States in appeals, collection (installment agreements, offer in compromise, levies, and liens) penalty abatement, and audit reconsideration for controversies involving the areas of income tax, employment tax and other various tax matters. Margarita works to negotiate, mediate, and settle with the IRS and other taxing authorities to resolve clients’ tax matters.

Elyse Katz, CPA, Senior Manager | Eide Bailly
Elyse is a former Revenue Agent with the IRS and comes to us with 10 years of experience in IRS Controversy cases. She handled the entire range of income tax audits from large flow-through business entities, captive insurance, employment tax, and individuals for the IRS. She can provide an in-depth understanding of complicated IRS audit issues as well as a diverse understanding of technical tax issues from the IRS perspective.

CPE Information
CPE Credit: 1
Field of Study: Taxes
Level of Knowledge: Update
Delivery Method: Group-Internet Based