Tax Controversies: Managing Potential Implications to the Year Ahead

Broadcast Date: Wednesday, November 06, 2019 from 12:00 pm to 1:30 pm (ET)

Overview:

The federal tax laws have continuously evolved in recent years. With a number of guidance released by the Internal Revenue System (IRS) – from the Tax Cuts and Jobs Act (TCJA) changes to Large Business and International (LB&I) compliance campaigns to utility allowance regulatory amendment – coupled with the relentless crackdown on tax compliance errors, companies have become more vulnerable to tax disputes.

Managing the increasing IRS scrutiny requires an up-to-date knowledge of the recent enforcement trends and compliance updates. Companies and their counsel must be proactive in revisiting their compliance programs to mitigate risks and address tax controversies.

Join a panel of key thought leaders and practitioners assembled by The Knowledge Group as they present an in-depth discussion of the implications of the emerging trends and recent developments in tax laws. Speakers will also present practical tips and strategies to manage tax controversies in this changing legal climate.

This LIVE Webcast will discuss the following:

Tax Controversies: Trends and Statistics
Critical Issues and Challenges
Managing Tax Controversies
Best Compliance Practices
What Lies Ahead

Learning Objectives:

Recognize the audit red flags and the latest IRS compliance campaigns
Determine the main IRS Criminal Investigation priorities

Agenda:

SEGMENT 1:
Barry A. Furman, Attorney
Fineman Krekstein & Harris, P.C.

Statistics: What are the chances of being examined by IRS
What are the flags for being examined (probably list about 10 or so);
IRS process for selection: DIFF score; TCMP audit; or
Recent IRS "targeted campaigns" such as virtual currency; S corporation distributions; S corporation built-in gains (probably list about 5 or so); or
Compliance Assurance Process (CAP) - 2019 large corporate taxpayers may participate in programs intended to resolve issues prior to filing tax returns
Losing passports and delinquent tax debt; or
AICPA Best Practices Statement 2018

SEGMENT 2:
David Gannaway, Principal
PKF O'Connor Davies, LLP

IRS CID Enforcement Priorities
IRS Special Enforcement Program Revenue Agent
Title 31 / BSA Audits

Who Should Attend:

Tax Managers and Directors
Tax Lawyers and Consultants
Tax Accountants
Controllers
Tax Advisors
Tax Compliance Officers

David Gannaway Principal PKF O'Connor Davies, LLP

David Gannaway is a Principal with PKF O’Connor Davies’ Forensic, Litigation and Valuation Services group. With more than 25 years’ …

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Barry A. Furman Of Counsel Fineman Krekstein & Harris, P.C.

For more than 30 years, Barry has counseled a wide range of business clients regarding tax, corporate, employment, estates and …

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Course Level:
Intermediate

Advance Preparation:
Print and review course materials

Method of Presentation:
On-demand Webcast (CLE); Group-Internet Based

Prerequisite:
General knowledge of tax laws

Course Code:
148078

NASBA Field of Study:
Taxes - Technical

NY Category of CLE Credit:
Areas of Professional Practice

Total Credits:
1.5 CLE
1.5 CPE (Not eligible for QAS (On-demand) CPE credits)

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About PKF O'Connor Davies, LLP

PKF O’Connor Davies, LLP is a full-service certified public accounting and advisory firm with a long history of serving clients both domestically and internationally. With roots tracing to 1891, eleven offices in New York, New Jersey, Connecticut, Maryland and Rhode Island, and more than 700 professionals, the Firm provides a complete range of accounting, auditing, tax and management advisory services. PKF O’Connor Davies is ranked 29 on Accounting Today’s 2019 “Top 100 Firms” list and is recognized as one of the “Top 10 Fastest-Growing Firms.” PKF O’Connor Davies is also recognized as a “Leader in Audit and Accounting” and is ranked among the “Top Firms in the Mid-Atlantic,” by Accounting Today. In 2019, PKF O'Connor Davies was named one of the 50 best accounting employers to work for in North America, by Vault.

PKF O’Connor Davies is the lead North American representative in PKF International, a global network of legally independent accounting and advisory firms located in over 400 locations, in 150 countries around the world.

Website: https://www.pkfod.com/

About Fineman Krekstein & Harris, P.C.

For more than 35 years, the law firm of Fineman Krekstein & Harris P.C. has represented individuals, corporations, nonprofit organizations and governmental agencies throughout the region.

Deeply rooted in the community, the attorneys at Fineman Krekstein & Harris understand the rules and appreciate the nuances specific to the courts, the government structure and legal and business interests in the metropolitan Philadelphia area.

The firm provides a full-range of legal services and business solutions. The litigation attorneys handle complex civil and commercial litigation, products liability, toxic torts, transportation and insurance matters. Corporate attorneys advise clients on tax-related issues, employment disputes, real estate matters and finance. The attorneys work collaboratively to provide a comprehensive solution designed to address the clients’ specific needs.

The firm is dedicated to the practice of relationships. Everyone at Fineman Krekstein & Harris is committed to providing top quality service to the firm’s clients through hard work and personal attention.

Website: https://www.finemanlawfirm.com/