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2024 April Solutions Room: Understanding IRS Tax Extensions - A Comprehensive Guide For Tax Professionals

2024 April Solutions Room: Understanding IRS Tax Extensions - A Comprehensive Guide For Tax Professionals
IRS Program #: X9QQU-T-01129-24-O
CTEC #: 6257-CE-0290
CE: 1 IRS & 1 CTEC credit
Materials
Course Description
This one-hour continuing education course is designed to provide tax professionals with a thorough understanding of IRS tax extensions, including their purpose, procedures for requesting extensions, implications for taxpayers, and best practices for assisting clients in navigating extension requests. Participants will gain practical knowledge to effectively guide clients through the extension process and ensure compliance with IRS regulations.

Learning Objectives
  • Define IRS tax extensions and explain their significance in the tax filing process.
  • Identify the various forms used to request tax extensions for individuals and businesses, including Form 4868 and applicable extension forms.
  • Describe the duration of tax extensions and the impact on filing deadlines for taxpayers.
  • Explain the importance of estimating and paying taxes owed by the original filing deadline, despite obtaining an extension.
  • Outline the steps involved in preparing clients for tax extensions, including gathering necessary documents and estimating tax liabilities.
  • Discuss strategies for effectively filing tax returns with extensions, including utilizing tax preparation software and seeking assistance from tax professionals.
  • Analyze the potential penalties and interest associated with late filing and payment of taxes, and provide guidance on minimizing these consequences.
  • Evaluate best practices for assisting clients in complying with IRS regulations while utilizing tax extensions responsibly.
  • Develop communication skills to effectively convey information about tax extensions to clients and address their questions and concerns.
  • Implement procedures for accurately submitting extension requests to the IRS by the original filing deadline, utilizing electronic or paper filing methods.

This course will equip tax professionals with the knowledge and skills necessary to navigate IRS tax extensions confidently, enabling them to provide comprehensive guidance and support to their clients during the tax filing process.
Presenters


John Mitchell, Credentials
John is an Enrolled Agent and foreign-licensed Attorney with over 30 years’ experience in taxation, having started by preparing 1989 tax returns “by hand” in the 1990 filing season. John currently works on tax planning and consulting, tax compliance, and tax controversy with state tax authorities as well as the Internal Revenue Service (IRS) in the examination, collections, and appeals functions and IRS District Counsel. John speaks Spanish at a “Native Speaker” level of proficiency.
Read the full bio here!
Continuing Education
This course qualifies for IRS and CTEC Continuing Education Hours. NAEA reports IRS/CTEC CE on a monthly basis. If you have not received your CE Hours in your IRS PTIN Account by the end of the month after receiving the certificate, please contact NAEA at education@naea.org. IRS Requirements for live webinars require at least 50 minutes per hour of attendance and answering 3 out of the 4 polling questions. For on-demand, you must watch the full video, answer the knowledge check, and pass the assessment with a score of 70% or above. No partial CE is offered.

Webinar Refund Policy
To request a refund, contact the NAEA education team via email at education@naea.org. An NAEA education team member will review the request for a refund. If the refund request has been approved, the refund will be refunded on the same method of purchase. Live Webinars, also offered On-Demand will not be refunded.