Info from IRS S Corp Seminar..

[outwest]

I just got back from a 2 day seminar instructed by a IRS S Corp Technical Advisor. His regular job is to train new auditors, contribute to internal discussions of IRS positions on S Corp issues and handle technical questions from auditors in the field. Our manual was the manual used to train IRS revenue agents and not only discussed the issues but included "audit tips" on where to look and what to ask.

The first observation, the IRS knows where to look and what goes on out here. I wouldn't hope to get through the audit based on the RA not looking under the right rock.

Second observation, not everything is cut and dried for either the IRS or the taxpayer. Reasonable comp for instance which was in at least three separate chapters in the manual.

BTW, he pointed out situations and how the IRS might challenge excessive S corp officer compensation.

I'll try to put up threads on some high points for the good of the group. Lot of stuff..

Oh yeah, he pointed out he is not "the IRS" and the manual is not authority, but it does give insight into the thinking of the service.

[Brian EA]

Is there any way we can get a copy of that manual

brian

[outwest]

Not that I know of..

it's thicker than my deluxe taxbook, and that's missing one whole chapter that national hadn't yet approved.

as S Corp stuff comes up, I'll try to see what it says and add in.

[peggysioux]

IRS S-Corp Seminar

I would be interested in attending seminar - can you provide the organization who presented the seminar to see if there are future seminars scheduled?

[oceanlovin'ea]

Same here

I would be interested in attending a seminar like that. let us know the details or how we can find out.

Linda F

[ChEAr$]

a copy

Is there any way we can get a copy of that manual

brian

I should think would be available under the FIA. whatever it's called.

[Absolut]

S - Corp Seminars

I too would like to have a list of dates and places for seminars on S-Corps. Thank you.

[outwest]

This is a infrequent thing...

the sponsor was the Boise Small Business Development Center in cooperation with the Idaho state CPA society.

The question was asked about a similar seminar for partnerships. After noting that "partnerships are evil" , the instructor explained that none of the four partnership technical advisors do this sort of seminar nor are they be interested. I also got the impression he was the only S Corp Tech advisor that did this sort of thing.

Long and short, this doesn't appear to be a regular program but rather a project of a IRS employee that enjoys teaching more than most do.