On December 1, 2020, Michael Sardar presents “Nobody Is Perfect: How Sure Do You Need to Be When Taking a Position on a Return” at the 22nd Baruch College Estate, Tax, and Finance Planning Conference.
Description:
This course covers the tax reporting standards applicable to taxpayers and practitioners and review when penalties can be imposed for tax return errors.
Learning Objectives:
Recognize what standards apply when the IRS determines whether or not to impose a penalty in connection with an erroneous position on a tax return
Demonstrate the difference between the reasonable basis, substantial authority, and more likely than not standards
Identify when can the practitioner be penalized for an error on a taxpayer’s return
Identify when, how, and why to make adequate disclosure of an uncertain tax position
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