Tax transcripts drive much of the strategy we use to resolve taxpayer’s issues, obtain penalty relief, and even flag possible examinations. This program will cover how to interpret the raw IRS transcript data received primarily from TDS and identify current and potential issues as well as the status the taxpayer has with the IRS, how much times remains on the IRS Collection statute and how we decide which collection alternative is best for the taxpayer. These include potential taxpayer refunds and revenue-generating opportunities for the tax professional.
Learning Objectives:
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Understand how to obtain IRS transcripts through e-Services and alternatives including best practices.
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Understand how to interpret the raw data from the transcripts.
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Identify how much time remains on the collection statute.
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Explain how the transcripts can help the practitioner decide which resolution alternative is best for the taxpayer