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Sessions | Instructor | Event Registration |

Event Information

Handling LBI Wealth Squad Examinations and related IRS Enforcement Issues for high net worth individuals | 4204545A
Date: September 29, 2020
Event Start time: 9:00 AM   End time: 10:30 AM
Location: Webcast

Facility: Webcast Remote


Member:       $39
Nonmember: $49

CPE Credits:

1.50 CPE: Continuing Professional Education Technical
1.00 MCLE: MCLE Technical

The Global High Wealth Group is an industry group created by the IRS LB&I in 2009. The purpose of the Global High Wealth Group (also known as the “Wealth Squad”) is to bring together an IRS team of specialist to coordinate the compliance, review, and, if necessary, conduct detailed examinations of complex returns of high wealth individuals and their related entities. The Global High Wealth Group conducts tax compliance reviews of high net worth individuals and the network of enterprises and entities they control. The IRS is poised to start the examination of several hundred high net worth taxpayers this year. Each of the cases assigned within the IRS Large Business & International (LB&I) Division will typically involve a pass-through business as the related entity. A high-income individual’s enterprise could involve trusts in the Small Business/Self-Employed (SB/SE) Division, tiered partnerships under LB&I’s jurisdiction, and retirement plans that the Tax Exempt and Government Entities (TE/GE) Division examines. These examinations may also involve private foundations related to the taxpayer.
To understand the Global High Wealth Group audit program, learn strategies to minimize risk from Global High Wealth Group audits, and master techniques in handling and advising clients examined by the Global High Wealth Group.

Major Subjects:
  • Understanding the “Wealth Squad” examination process
  • Knowing what foreign and domestic audits issues will be scrutinized during a “Wealth Squad” examination
  • Understanding “Wealth Squad” document requests and Summons
  • Identifying key strategies to minimize exposure from a Wealth Squad examination.

Level of Difficulty:

Field of Interest:


Designed For:
CPAs, Accountants, Lawyers, Financial Advisors

Advanced Prep:

Event Notes: