Video: Interacting with the IRS: Tax Positions, Audits, Appeals and Judicial Process Overview

In this lesson, Nick Palazzolo, CPA, unpacks the essentials of navigating interactions with the IRS concerning tax positions, audits, and the subsequent appeals and judicial process. He kicks things off with insights into the nuanced reality of tax positions, emphasizing the importance of confidence and reasonableness in advice given to clients. Tackling the intricacies of what happens in an audit, the requirements for disclosing federal tax positions, and the process that follows if you disagree with an IRS decision, Nick equips viewers with the necessary understanding to prepare and support tax deductions and navigate potential disputes. Delving into the audit and appeals process, he clarifies the steps involved, including the array of courts one may encounter and the hierarchy of authorities governing federal tax matters. It's a comprehensive exploration designed to demystify the often complex interactions with the tax authorities and fortify knowledge on the audit and legal considerations in tax practice.