Tax Audit

Overview:

Introduction:

The Tax Audit training program equips participants with the expertise to conduct thorough tax audits, focusing on legal and procedural aspects. It covers relevant laws and regulations, enabling participants to identify tax issues and ensure compliance. Through theoretical learning and practical exercises, participants develop skills to assess compliance and accuracy effectively.

Program Objectives:

At the end of this program, the participants will learn about:

• Study the idea of and procedures for preparing for a tax audit in order to better understand why taxes are collected and what they are utilized for.

• Determine the circumstances in which tax reports and audits may be required

• What is the primary objective of tax audits?

• Examine how technology will affect the field of tax audits and determine the ideal time to get ready for tax audits.

• Recognize tax independence and use it in a situation.

• Find the parallels and distinctions between tax audits and other types of audits.

• Describe the differences between government and not-for-profit tax audits and standard tax audits.

• Learn how to carry out an audit from the beginning through the adoption of corrective measures.

Targeted Audience

• Tax payers, advisors, consultants, experts working for advising firms, and enforcement agencies.

• Fiscal auditors.

• Legal advice and attorneys.

• General tax professionals.

• Novices in the trade and commercial industries.

• Government employees.

• Internal tax managers or directors.

• Monetary analysts.

Program Outline:

Unit 1:

Tax Audit Introduction:

• Tax Audit Introduction.

• Applicability.

• Tax Applicability.

• Tax Auditor.

• Letters.

Unit 2:

Taxes For Small Business: 

• The Impact of Taxes on the Economy.

• Similarities and Differences Between Tax Audits and Due Diligence How Tax Policies Affect Your Business.

• Differences and Similarities Between Tax Audits and Regular Audits.

Unit 3:

Tax Strategies for Businesses:

• Bringing Down Taxable Income.

• lowering the tax rate.

• Strengthening the Workforce.

Unit 4:

Managing Taxes:

• Accountability vs. Responsibility.

• Tools for Tax Planning.

• Accounting Statements.

• Deferred taxes for management of earnings.

Unit 5:

Important Tax Procedures:

• Procedures for Tax Audits Documentation.

• Report of Tax Audit, Form 3 CD.