May 04 - 06, 2008

AADMO Spring Conference

This event has already occurred.
Royal Sonesta Hotel
New Orleans, LA

May 5, 2008 (11:00 a.m. to 12:00 p.m.)

Your Own Mini-Audit: The Actual Questions the IRS Asks and Where the IRS Is Heading

The IRS has announced it will audit over 250 credit counseling agencies. This number represents the vast majority of the industry. In this session, you will learn from one of the industry's leading attorneys who has been on the front lines of this "battle" from its outset and who has represented dozens of credit counseling agencies in connection with IRS audits to date. After this session, you will be well-prepared for what the IRS actually wants and expects, the questions that the IRS will ask your agency, the "red flags" that you need to be keenly aware of, and what it really takes to survive an IRS audit with your tax-exempt status intact.

This session also will feature an IRS audit status report - the inside scoop on the handful of agencies who have come through audits with their tax-exempt status still alive, options for dealing with unfavorable IRS assessments, timing issues, procedural options, and what it takes to end up with a "no change" letter, a "closing agreement," a favorable tax-exemption application determination letter, and options for mitigating the impact and timing of proposed revocations.

Perhaps more than at any time in recent years, clearer answers and perspectives are evident from the IRS; this is your chance to get the straight scoop on everything your agency needs to know to be able to accurately evaluate its options and make informed decisions about its future.