March 18th | 11:30 am to 1:00 pm Presentation starts at 12:00 pm

EPCBA Office | 24 S. Weber Street, Suite 135 & Zoom

CLE Credit: 1 General 

Presented by: Vince Viruni, Esq.

In Fiscal Year 2021, the IRS closed 738,959 tax return audits, resulting in nearly $26.8 billion in recommended additional tax.  In Fiscal Year 2022, the IRS closed 708,309 tax return audits, resulting in nearly $30.2 billion in recommended additional tax.  In Fiscal Year 2023, the IRS closed 582,994 total tax return audits, resulting in $31.9 billion in recommended additional tax.  In reviewing the trend, while the number of closed tax return audits are decreasing, the recommended additional tax values are increasing.  While the national audit rate for trust and estate income, estate, and gift tax returns have been trending lower in trailing years, the push for the IRS to receive additional funding has led many clients (and practitioners) to inquire about the possibility of increased enforcement activities of complex transactions in the near to mid-term. 

We will be exploring your role as the estate planning/probate attorney when confronted with an IRS audit of your trust, estate, and/or individual client.  Some of the questions we will be discussing include: What are indicators of an audit?  How do you prepare, respond, and facilitate a favorable resolution?  What are some special circumstances to be aware of?  How do you handle clients’ existing engagements with their CPAs, whose prepared tax return may be at issue?