In this program sponsored by Tax Rep Network and Bench we will cover the requirements for clients to document their income and expenses, and what can be done when clients cannot meet this burden. Records get destroyed, lost or perhaps never existed in the first place. This program will discuss the ways records can be resurrected and the IRM and Circular 230 issues surrounding reconstructed records.
Learning Objectives:
- Understand the documentation requirements regarding tax documents
- Identify how records can be reconstructed
- Explain strategies for handling non-filers and their lack of records
