8:10 – 9:50 AM: 2 Hours
- Hobby Underground Economy, Hobby Loss Challenges, and
CP2000 Reconciliation
LG Brooks, EA, CTRS
- Part 1 – Representing the Underground Economy
The National Taxpayer Advocate has reported to Congress that the single largest piece of the tax gap is unreported income in the cash or underground economy. With over 100 billion at stake, the IRS is taking aim at this huge target. TAS has joined SB/SE in forming a committee to study new ways to collect from this segment of the economy. LG will cover the techniques IRS currently employs to locate and build cases. Learn what the practitioner can do to protect the taxpayer’s freedom, assets, and income when the IRS comes calling. Do not miss this leading-edge topic presented by LG Brooks, aka Mr. High-Energy.
- Part 2 – Defending the Hobby Loss Challenge
What do you do when the IRS claims your client’s business is a hobby? What are the 3 of 5 and 2 of 7 safe harbor rules? What are the 9 items IRS considers in a facts and circumstances situation and when do they come into play? Illustrative cases will include auto racing, horseracing, and antique dealing. Learn when to file a Form 5213 to defer IRS determination of the applicability of the hobby loss rules. Learn how the hobby determination affects otherwise deductible expenses like home property taxes or mortgage interest. How will incorporation effect losses.
- Part 3 – Reconciling the CP2000
The CP2000 is one of the most common and most time-consuming IRS communications. Often, it’s one of the most disconcerting to taxpayers as it assumes a balance due when the taxpayer has reported all income, but the IRS computer sees it differently. LG will discuss the source of the CP2000 and offer tips on how to reconcile the third-party submissions and how to respond for your client. He will offer tips on billing adequately and assuring your client does not blame you for the paper-spewing IRS computers.
9:50 – 10:05 AM: Break
10:05 – 11:45 AM: 2 Hours
- Hobby Underground Economy, Hobby Loss Challenges, and
CP2000 Reconciliation Cont.
LG Brooks, EA, CTRS
11:45 – 1:25 PM: Lunch (On Your Own)
1:25 – 3:05 PM: 2 Hours
- Hollywood Comes To Vegas: Meeting With Tax
Problem Resolution Clients
Gary Bluestein, Esq., CTRS
- This session will highlight the challenges in the tax problem resolution cases that we all encounter daily. Gary will use a professionally created video to illustrate and written fact patterns to examine a typical prospective client interview and case analysis. Audience participation will be encouraged to gain as many practitioner insights as possible. You will learn how to deal with prospects and the critical elements of case analysis. New kids on the block and old pros alike will take-away valuable insights to be used immediately upon returning to the office.
3:05 – 3:20 PM: Break
3:20 – 5:00 PM: 2 Hours
- Hollywood Comes To Vegas: Meeting With Tax Problem
Resolution Clients Cont.
Gary Bluestein, Esq., CTRS
Friday, September 26
8:10 – 9:50 AM: 2 Hours
- Ethics
LG Brooks, EA, CTRS
- Meet your Circular 230 Continuing Education requirement in Ethics at this informative session. LG will keep the session interesting with sample cases illustrating the application and perhaps the violation of Circular 230 rules and the consequences thereof. All Circular 230 practitioners need to guard their privilege to practice before the IRS; an inadvertent violation could cost you your practice. Notice 2008-43, which clarifies Circular 230 Sec. 10.27(b)(2) on contingent fees, will be included.
9:50 – 10:05 AM: Break
10:05 – 11:45 AM: 2 Hours
- Find Their Pain
Lawrence Lawler, CPA, EA, CTRS
- Some industries and some activities have had special attention from the IRS, lucky them. Lucky you, the IRS focus leads you to fertile marketing grounds. Activities that involve independent contractors or targeted industries like pizza restaurants, drywall contractors, and many others point the way to laser accurate marketing that nails prospect’s hot spots. Larry will first show you how to select a target and then teach you a systematic method to create the direct marketing letter to bring them in. Larry’s step-by-step method will make it easy to create your own sales letters, even if you think you are not a writer. The materials include templates to create sales letters and a completed letter for a sample direct mail campaign.
11:45 – 1:25 PM: Lunch (On Your Own)
1:25 – 2:15 PM: 1 Hour
- Representing The Non-Filer
Patti Logan, EA, CTRS
- What approach should practitioners take when confronted by the non-filer? Should the number of unfiled years have any impact on practitioners’ decision? When is there exposure to fraud or criminal charges? When should the returns be filed? Is digging for deductions practical? What if you can’t prepare the “perfect return” due to lack of information? Patty will discuss the IRS policy statement, pertinent cases, and lots of practical advice. Do not miss this important topic that confronts each of us regularly.
2:15 – 3:05 PM: 1 Hour
- Tax Gap Initiatives
Patti Logan, EA, CTRS
- Patti will delight you with the wonderful plan the IRS has to increase our business. Of course, she will also be compelled to point out how the same plan includes practitioner pitfalls. Increased collection action always raises the number of clients seeking your service, but sadly, it also makes successful case resolution more difficult. At least the higher fees that will need to be charged will help fill the gas tank. Her presentation will focus on the IRS Report to Reduce the Tax Gap issued late in 2007. The IRS has provided a detailed plan of the collection actions they are implementing. Patti will concentrate on the initiatives that relate to your tax problem resolution practice. Attendees will receive a complete copy of the IRS report in a .pdf file on a CD.
3:05 – 3:20 PM: Break
3:20 – 5:00 PM: 2 Hours
- Tax Gap Initiatives Cont.
Patti Logan, EA, CTRS
Saturday, September 27
8:05 – 9:50 AM: 2 Hours
- Worker Misclassification
Robert McKenzie, Esq., EA, CTRS
- IRS has announced increased scrutiny on the use of workers misclassified as independent contractors. Learn the essential concepts required to represent these difficult (read that as lucrative) cases. IRS has commenced a concentrated campaign to find and assess employment taxes against companies using independent contractors that IRS believes should be employees. Bob will cover the safe harbor and relief provisions, the Classification Settlement Program, and “how to” minimize the risk of IRS reclassification. He will answer questions like; “Is it a good idea to request SS-8 determination from the IRS?”, “What problems will the new Form 8919 create for many companies?”, or “Can the worker benefit from the additional tax assessed against the company?”
Bob will explain how the IRS calculates the liability when they reclassify workers, when IRS might double the amount calculated based on their view of the company’s reasons for using the independent contractor classification. He will include tips on how the amounts reported on the workers’ tax returns can save some money for the client.
Bob will explain the new computer matching techniques IRS is using to zero in on the first target group. He will also discuss the problems He will explain the motivation of the thirty-three states that have signed on to help the IRS.
9:50 – 10:05 AM: Break
10:05 – 11:45 AM: 2 Hours
- Worker Misclassification Cont.
Robert McKenzie, Esq., EA, CTRS
11:45 – 1:25 PM: Lunch (On Your Own)
1:25 – 2:40 PM: 2 Hours
- Fraudulent Conveyances, Alter Egos, Nominees, & IRS
Litigation Actions
Robert McKenzie, Esq., EA, CTRS
- The IRS has been increasingly aggressive in seeking to collect from third parties who may own property on behalf of a taxpayer or who have had property conveyed to them by a delinquent taxpayer. The IRS is aggressively asserting fraudulent conveyance actions against those who have acquired property from a taxpayer for a bargain price. It also is foreclosing on properties where it believes that property is being held for the benefit of a taxpayer. This session will discuss the litigation remedies available to the IRS when it believes that taxpayers are playing games with respect to the ownership of property. It will also discuss other actions available to the IRS to enforce federal lien rights.
Don't Miss This Action-Packed 3 Days of Education & Networking!
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The American Society of Tax Problem Solvers is a national, IRS approved not-for-profit organization of professionals who specialize in representing taxpayers before the IRS.
The American Society of Tax Problem Solvers is registered with the National
Association of State Boards of Accountancy (NASBA) as a sponsor of
continuing professional education on the National Registry of CPE Sponsors.
State boards of accountancy have final authority on the acceptance of
individual courses for CPE credit. Complaints regarding registered
sponsors may be addressed to the National Registry of CPE Sponsors,
150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site: www.nasba.org
