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Tax Advisors and Return Preparers in IRS Crosshairs
New Return Preparer Standards and Circular 230 Monetary Penalties
A live audio seminar presented by CCH
Thursday, November 8, 2007 - 1 p.m. Eastern; Noon Central; 10 a.m. Pacific
Register Today for Only $249 Per Site and Have an Unlimited Number of Users Participate!
Invite Colleagues, Business Referral Sources, Clients and Prospects to Join You!
Learn How the Controversial New Tax Advisor and Return Preparer Rules Affect You and Your Practice
On May 25, 2007, the President signed into law the Small Business and Work Opportunity Tax Act of 2007, which contains several important provisions affecting tax practice. Every tax advisor and return preparer needs to fully understand these new rules as they significantly broaden and toughen tax return preparer standards and penalties-and they are effective NOW!
The significant new changes, which many in the tax practitioner community are calling "draconian," are effective for tax returns prepared after May 25, 2007 and include:
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Income tax return preparer penalties now apply to all tax return preparers (including preparers of estate and gift tax returns, employment tax returns, and excise tax returns)
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Standards of conduct that must be met to avoid penalties for preparing a return which reflects an understatement of liability have been raised
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New penalty for filing erroneous refund claims now applies
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Dollar amounts for applicable penalties have been increased
Notice 2007-54, released by the IRS on June 11, provides some transitional relief to these new rules, extending the effective date to all returns, amended returns, and refund claims due on or before December 31, 2007; to 2007 estimated tax returns due on or before January 15, 2008; and to 2007 employment and excise tax returns due on or before January 31, 2008.
Presented by noted tax practitioners and commentators, Michael G. Goller, J.D. and Harvey Coustan, CPA, Tax Advisors and Return Preparers in IRS Crosshairs: New Return Preparer Standards and Circular 230 Monetary Penalties is a two-hour audio seminar on Thursday, November 8, that will provide practical discussion and insights on these controversial new tax practice and procedure provisions. The presentation time will include ample opportunity for you to ask your most pressing questions to Goller and Coustan.
Program Topics
Among the areas Goller and Coustan will examine are:
- The Penalty for Erroneous Refund Claims (New §6676)
- The Preparer Penalty: What Is a Return Preparer?
- Preparer Penalty for Unrealistic Positions (§6694)
- New Disclosure Rules, Including What Constitutes "Adequate Disclosure" and Disclosure for Estate and Gift Tax Value
- Interplay with IRS Circular 230 Standards for Advising with Respect to Tax Return Positions, Preparing or Signing Returns, and Covered Opinions
- Unanswered Questions-including how is "reasonable belief" demonstrated; can FIN 48 papers be relied on to demonstrate more likely than not; and do the new standards create a conflict of interest for which a waiver is necessary?
Learning Objectives
- Obtain a practical awareness of the new tax practice standards and penalties
- Understand potential impact on the tax advisor / return preparer and firm
- Identify potential changes to implement to your firm's tax practices and procedures
BONUS-each registered site will also get a free issue of CCH's Journal of Tax Practice and Procedure
Register today for this insightful program on Thursday, November 8 at 1 PM Eastern, Noon Central; 10 AM Pacific.
About the Speakers:
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Michael G. Goller, J.D. is a shareholder with the law firm, Reinhart Boerner Van Deuren s.c. in Milwaukee, Wisconsin. He focuses on tax controversy and tax litigation, as well as tax planning for clients ranging from large public corporations to mid-sized, privately-held businesses and their owners.
Michael works on behalf of his clients in disputes with the IRS, Department of Justice and various other taxing authorities. An experienced tax attorney and tax litigator, Michael helps his clients navigate the challenges of complex federal and state tax audits, disputes, administrative appeals, trials, and subsequent appeals. He has an impressive track record of both trying cases and negotiating favorable settlements for his clients before trial.
Michael regularly shares and deepens his expertise as a tax litigator through professional speaking and writing. He frequently speaks to professional and business audiences and organizations on issues of tax controversy, tax litigation and tax planning. Michael is a faculty member at the University of Wisconsin Milwaukee's School of Business where he teaches Tax Practice and Procedure in the Graduate Tax Program, and he has authored a number of significant articles and publications, including CCH's Federal Tax Practice and Procedure Course. |
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Harvey Coustan, CPA is a consultant with the National Tax Office of RSM McGladrey, specializing in technical, procedural, and organizational matters. He retired as a partner from Ernst & Young in 1998, where he held several leadership positions, including partner in charge of the firm's National Tax Practice in Washington, D.C.
He has spoken at numerous conferences, and his articles have appeared in several professional publications, including CCH's Journal of Tax Practice and Procedure and TAXES: The Tax Magazine. He is a co-chair of the AICPA's Tax Shelter Issues Task Force, has chaired the AICPA and Illinois CPA Society Tax Executive Committees, and has served on both the AICPA and Illinois CPA Society Boards of Directors. Harvey has also served on the Commissioner of Internal Revenue's Advisory Committee and on the JJ Pickle House Ways and Means Committee Task Force on Civil Tax Penalties.
He is a member of the National Conference of Lawyers and CPAs, and he has served as an assistant professor at DePaul University, an adjunct faculty member at Northwestern University Kellogg Graduate School of Management, and a Professorial Lecturer at Georgetown University. |
How the Audio Seminar Works
CCH's live audio seminars require nothing more than a telephone connection. For the single per-site fee, you can have an unlimited number of listeners at your site participate, get up to speed and in-the-know on important topics, and get special bonus publications included with the seminar. Handout materials are provided in PDF format that you can download and copy for all those who will participate in the seminar at your location.
Practice Development Tip! Invite colleagues, business referral sources, clients and prospects to your office to listen in and participate on this seminar with you. They'll appreciate your invitation to hear directly about this important topic.
Visit CCHGroup.com/AudioSeminars for more audio seminar topics, dates and times!
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Earn CPE Credit
- Two hours of CPE credit are available for an additional $25 per person wishing to receive a CPE certificate for their participation
- Course Level: Update
- NASBA Field of Study: Taxes
- Prerequisites: Basic knowledge of federal taxation practice and procedure
- Learn More About CCH's NASBA Registration
Special Bonus
Firms registering for this audio seminar will receive as a bonus the following publication:
Order CD Recordings of CCH Audio Seminars
If you are unable to attend this upcoming event and would like to order a recording-or if you would like to order recordings of past CCH Audio Seminars, please visit the CCH Audio Seminar Archive Library today.
Pricing:
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Site License: $249 - Registration includes one telephone connection at one location, one master set of handouts (with permission to make additional copies for the participants at your location), an unlimited number of people in one listening room can participate, and one seminar bonus publication per registered site. ($25 CPE fee additional for each person wishing to receive a CPE certificate for their participation.)
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CD Recording: $249 - The CD includes an audio recording of the event and handout materials in PDF format. Includes copy of seminar bonus publication with purchase. Available one week after the live audio seminar event. (Note: CPE credit is not available for the CD version of the presentation.)
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Site License and CD Recording Package: $349 - This specially-priced package provides you with the Site License access to the live audio seminar event AND the CD Recording.
Our Guarantee
If for any reason you are not completely satisfied with this program, we will provide a full refund - no questions asked!
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Register Today for Only $249 Per Site and Have an Unlimited Number of Users Participate!
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