IRS Audit Readiness & Risk Management Self-Study Webinar
Overview
Tax authorities continue to increase scrutiny around documentation, reporting positions, and audit preparedness, making proactive risk management more important than ever. This self-study webinar provides a practical framework for preparing for IRS audits, strengthening documentation practices, and managing areas of heightened tax risk. Participants will gain insight into:
- Best practices for audit readiness and maintaining defensible tax documentation
- How to manage uncertain tax positions and evaluate potential areas of exposure
- Common IRS red flags and practical strategies for reducing audit risk
Objective
To provide CPAs and other tax and finance professionals with a practical understanding of tax audit readiness, documentation standards, and risk management strategies, enabling them to strengthen compliance and better manage audit-related exposure.
DETAILED LEARNING OBJECTIVES
• Recognize the general order and procedures involved in an IRS audit
• Recall core documentation standards expected by the IRS for business tax positions
• Identify best practices for organizing and maintaining audit-ready documentation
• Recognize documentation requirements related to deductions, credits, payroll, and employee classifications
• Recall selected documentation requirements associated with OBBB-related tax provisions
• Identify digital asset reporting requirements and related recordkeeping obligations
• Recognize the characteristics and documentation requirements of uncertain tax positions (UTPs)
Emphasis
- State of play of the IRS today
- General order of an audit for a small to mid-size enterprise (“SME”)
- Preparation for an IRS audit
- Documentation standards for the new OBBB-related credits, deductions and tax positions
- Managing uncertain tax positions
- Mitigating exposure
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