Lesson and Objectives

Reading
Assignment

1. Why every taxpayer must read this book

Chapter 1

The learning objectives for this lesson are to gain an understanding of:

• How CPAs grade clients and how that relates to you

2. The IRS Personality

Chapter 2

The learning objectives for this lesson are to gain an understanding of:

• Events that shaped the IRS personality
• Acknowledging dedicated IRS personnel

3. Who runs the show

Chapter 3

The learning objectives for this lesson are to gain an understanding of:

• What it looks like from the inside out
• The organization
• The examination division
• The collection division
• The criminal investigation division
• The taxpayer services division

4. Standard operating procedure

Chapter 4

The learning objectives for this lesson are to gain an understanding of:

• The IRS chain of command
• The examination division
• The collection division
• The criminal investigation division
• Offering a bribe--what are the consequences?

5. Neutralizing the IRS's power

Chapter 5

The learning objectives for this lesson are to gain an understanding of:

• The IRS power base
• Information resources
• IRS as law enforcement agency
• IRS as legislation-creating authority

6. IRS technology

Chapter 6

The learning objectives for this lesson are to gain an understanding of:

• The processing pipeline
• The IRS matching program
• Expected technology overhaul

7. IRS targets

Chapter 7

The learning objectives for this lesson are to gain an understanding of:

• Are you in the line of fire?
• Self-employed
• Cash-intensive businesses
• Industries in the market segment specialization program
• Nonfiler
• Tax cheaters--omission of income
• Tax delinquents and tax scam artists

8. How to avoid an audit

Chapter 8

The learning objectives for this lesson are to gain an understanding of:

• How to prevent audit problems
• How to avoid an audit
• Hobby loss rules
• Businesses that include merchandise inventory

9. The 20 greatest taxpayer misconceptions

Chapter 9

The learning objectives for this lesson are to gain an understanding of:

• Commonly misunderstood aspects of the tax regulations

10. Overlooked credits an deductions

Chapter 10

The learning objectives for this lesson are to gain an understanding of:

• Selling securities
• Unamortized points on a home mortgage
• Interest on a home equity loan
• Unused losses, expenses and credits
• Self-employed deduction for health insurance
• Charitable donations
• Social security tax overpayments
• Job-hunting expenses
• State income tax deductions
• Parental or grandparental support
• FIT withheld on Form 1099
• Classroom expenses for teachers

11. Ten ground rules never to break to win with the IRS

Chapter 11

The learning objectives for this lesson are to gain an understanding of:

1. Always report income on your tax return that is being reported to the IRS by third-party payers
2. Never include other forms that are not required with your tax return
3. If any information that you are putting on a tax return is a gray area, go for as close to full deductibility as possible
4. File your personal tax return by April 15--use an extension only if absolutely necessary
5. Don't worry about being unable to interpret or decipher the complex IRS tax forms
6. Strive to be neat
7. When all else fails, follow one or more of these four steps
8. Make it your business to know which tax loopholes apply to your personal tax situation
9. Use to your advantage the fact that the IRS system for document retrieval is poor
10. If you are involved with IRS personnel in any way, behave decently

12.The latest tax legislation

Chapter 12

The learning objectives for this lesson are to gain an understanding of:

• The Jobs and Growth Tax Relief Reconciliation Act of 2003
• 2001 Tax Legislation
• The Tax Acts of 2001 and 2003:conclusions
• Taxpayer protections and rights

13. The new IRS: What are its goals?

Chapter 13

The learning objectives for this lesson are to gain an understanding of:

• New IRS mission
• Obstacles to overcome
• Electronic filing
• Increasing compliance
• Paying taxes with plastic