Course Description:

Over 70 million taxpayers each year must interact with the IRS outside of filing a tax return. Many of these taxpayers need their account information at the IRS for a variety of reasons, including resolving an IRS notice or tax problem or getting their tax information for other uses, like applying for financial aid or a loan. Tax professionals are repeatedly called on by clients to help both obtain and understand their IRS information. Also, effective tax problem solving requires that the tax professional conduct effective due diligence which includes understanding their client’s IRS account information. This course will go into the importance of understanding taxpayer account information, including the most current methods to obtain, analyze and use the five types of IRS transcripts. We will also cover how to interview the IRS to get other critical tax account information.

This course covers the following Major Topics:

• The five types of IRS transcripts and what information is included in IRS transcripts

• How to effectively use transcripts to resolve common tax issues and to double check prior year returns for accuracy

• The two main sources of tax account information at the IRS

• How to be authorized to obtain your clients' account information at the IRS

• The three steps of the tax problem solving process and the importance of the due diligence step

• Best practices and tips on obtaining and analyzing tax account information

(Learning Objectives:

• Describe how to initiate access to the IRS e-Services Transcript Delivery System platform to obtain client transcripts

• Recognize how to use IRS transcripts to identify future tax problems and notices and to double check the accuracy of prior year filed returns

• Identify what information you can obtain from the IRS about your client and where to obtain IRS account information

• Recognize how to execute the proper authorization (Form 2848 or 8821) to obtain your client's account information at the IRS

• Describe how to effectively conduct due diligence to identify and resolve a client's tax issue with the IRS

Credits and Other information:

• Recommended CPE credit – 2.0

• Recommended field of study – Taxes

• Session Prerequisites and preparation: None

• Session learning level: Basic

• Location: Virtual/Online

• Delivery method: Group Internet Based

• Attendance Requirement:  Yes

• Session Duration: 120 Min

Who Will Benefit:

• CPA

• Enrolled Agents (EAs)

• Tax Professionals

• Attorneys

• Other Tax Preparers

• Finance professionals

• Financial planners

Speaker: Jim Buttonow, CPA, CITP

Jim Buttonow, CPA, CITP, has been a leader in helping taxpayers and tax professionals resolve tax problems with the IRS. For 19 years, Jim worked at the IRS in various compliance enforcement positions. Since 2006, Jim has been in private practice and tax and accounting software development. Jim consulting practice focuses on the areas of tax controversy and tax administration. Jim led product development and marketing for a successful software company that developed tax problem software for tax professionals. This software is currently being used by thousands of tax professionals and businesses in the United States. Jim has been an IRS partner in improving IRS operations and post-filing service to taxpayers. Jim served as chairperson of the IRS Electronic Tax Administration Advisory Committee (ETAAC) in 2015 and 2016 during which ETAAC played a central role in promoting the IRS digital strategy to develop transformative technology solutions to systemic challenges in tax administration.