Tax Statutes of Limitations: Advising Taxpayers on the Assessment, Collection, and Refund Statutes
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will review the three basis statutes of limitations for taxes: the IRS assessment statute expiration date (AESD), the refund statute expiration date (RSED), and the collection statute expiration date (CSED). Our federal income tax expert will explain the critical nature of each date and offer practical advice on handling approaching expiration dates and advising taxpayers.
Outline
- Introduction: tax statutes of limitations
- Current applicable statutes of limitations
- RSED – Refund statute expiration date
- ASED – Assessment statute expiration date
- CSED – Collection statute expiration statute date
- Actions extending the ASED and CSED
- Cases when the statute of limitations can run forever
- Examples
Benefits
The panelist will cover these and other critical issues:
- Should a taxpayer choose to voluntarily extend the collection statute during an IRS audit?
- What specific acts extend the assessment statute?
- What is the last date a taxpayer has to receive a refund of taxes paid?
- What causes the assessment statute to run indefinitely?
- How and when should practitioners advise taxpayers about expiring statutes?
Faculty
Larry Pon, CPA/PFS, CFP, EA, USTCP, AEP
CPA/PFS, CFP, EA, USTCP, AEP
Pon & Associates
Mr. Pon has been in practice since 1986 providing comprehensive accounting, tax, payroll, and business advisory... | Read More
Mr. Pon has been in practice since 1986 providing comprehensive accounting, tax, payroll, and business advisory services. He specializes in tax preparation, tax representation, tax planning, business planning, financial planning, and estate planning. Services include IRS and state audit representation, business startup services, and charitable planning. Mr. Pon is a frequent author and lecturer to financial and legal professionals and the public on tax and financial planning topics.
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CPE credit is not available on downloads.
CPE On-Demand