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IRS Transcripts: Analysis Made Simple




Description


IRS Transcripts: Analysis Made Simple :- 


Join us for a two-hour webinar where you'll master the art of reading and analyzing IRS transcripts like a professional. We'll begin by exploring the various types of transcripts, including Account Transcripts, Tax Return, Record of Account, Separate Assessment, Civil Penalty, and Wage and Income Transcripts. Our presenter will highlight the transcript differences and explain when to use each type. Next, we'll delve into the new authentication procedure for ID.me, the cutting-edge identity verification technology utilized by the IRS for e-Services and other applications. You'll learn how to set up your SOR (Secure Object Repository or secure mailbox) and e-Services account, and we'll guide you through the process of delegating transcript tasks to non-designated staff members. Finally, we'll reveal five easy and proven strategies to monetize IRS transcripts in ways you may not have previously considered.

This comprehensive webinar is designed to enhance your understanding and utilization of IRS transcripts, equipping you with valuable skills and insights.

The problem is that are several internal transcripts that present various data. One must understand which transcripts to obtain depending on the information needed. But that’s only half the battle. Master File transcripts are heavily coded. Unless one understands the codes, there’s no way to make sense out of the transcripts. This webinar presents solutions to all these challenges.


Learning Objectives:-

  • Recognize the differences between various types of IRS transcripts, including Account Transcripts, Tax Return, Record of Account, Separate Assessment, Civil Penalty, and Wage and Income Transcripts, and determine when to use each transcript type.
  • Identify the steps involved in the new authentication procedure for ID.me and learn how to set up your SOR (Secure Object Repository or secure mailbox) and e-Services account as well as delegate transcript tasks to non-designated staff members.
  • Evaluate and apply five easy and proven strategies to monetize IRS transcripts, justifying their use in various financial contexts.
  • Exactly how to determine whether and to what extent a client is a tax return-nonfiler.
  • The nature and amount of penalties assessed.
  • How to obtain W-2 and 1099 income reports filed with the IRS by third parties.
  • How to use transcript data to calculate expiration dates for the collection statute limitations, the assessment statute of limitations, and the refund statute of limitations.
  • Exactly what letters and notices have been mailed, and for which tax years.
  • How to get account data for a deceased taxpayer.

 

Who Will Benefit:

  • CPA
  • Enrolled Agents (EAs)|
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners
  • Business Owners


Credits and Other information:-

      - Session Duration: 2 Hours

      - Case Studies and Live Q&A session with speaker

      - Power Point presentation for reference

      - Session learning level: Advanced

      - Delivery method: Group Internet Based

      - IRS Credits: 2 Tax Hours

       - Recommended field of study – Taxes

       - Session Prerequisites and preparation: None

       - Location: Virtual/Online

       - Attendance Requirement:  Yes


Speaker Profile:

William Beisswenger & Irina N Bobrova, MST, EA, CAA, NTPI Fellow

William Beisswenger is from Tampa, Florida, and is currently majoring in finance at SPC. William is ambitious, charismatic, and attentive to the needs of others. William is very competitive and strives to be the best at everything he does. When William is not focusing on his career, he enjoys reading and exercising.

Irina Bobrova is an Enrolled Agent, Certifying Acceptance Agent and NTPI Fellow and proud that her vast financial training and tax experience has given her the knowledge and tools necessary to analyze and understand multi-faceted tax problems and find targeted tax collection resolutions that work. In her tax resolution practice, Irina has helped hundreds of taxpayers to resolve their tax problems, and particularly excelled in preparing Offer in Compromise cases with successful outcomes. To strengthen her tax knowledge, Irina Bobrova earned her Master of Science in Taxation degree from Northeastern University, Boston MA, which has one of the best graduate tax programs in the country.

Irina Bobrova also puts her experience to use for the greater good as a regular volunteer at the Low Income Taxpayer Clinic of the Legal Aid Service of Broward County of Florida, helping disadvantaged and financially challenged Floridians for free. Irina’s teaching career includes numerous live webinars for tax professionals and live presentations at various tax conferences. She has taught CPE webinars and live programs for the audiences of ASTPS American Society of Tax Problem Solvers) and Broward Chapter of the FSEA (Florida Society of Enrolled Agents).


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