Substitute for Return (SFT): Navigating IRS-Filed Returns and Correcting the Record
Overview
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When taxpayers fail to file, the IRS may prepare a Substitute for Return (SFR), often resulting in overstated tax liabilities and limited deductions. Understanding how SFRs are created and how to respond is critical in reducing client exposure. This course focuses on identifying SFR situations, correcting inaccurate filings, and replacing IRS-prepared returns with accurate taxpayer filings.
Highlights
- IRS Substitute for Return process and authority
- Differences between SFR and taxpayer-filed returns
- Correcting overstated liabilities • Filing strategies to replace SFRs
- Coordinating SFR corrections with collections activity
Prerequisites
Basic understanding of individual taxation
Designed For
CPAs and tax professionals representing clients with IRS-prepared returns
Objectives
At the end of this course, you will be able to-
- Identify when the IRS has prepared a Substitute for Return
- Understand how SFRs are calculated and their limitations
- Determine steps to replace an SFR with a filed return
- Apply strategies to reduce tax liabilities resulting from SFRs
Preparation
None
Leader(s):
Leader Bios
Charles Montecino
Charles K. Montecino is a Certified Public Accountant and Certified Tax Resolution Specialist with over 40 years of experience in public accounting. Over the past 25 years, he has specialized in helping clients resolve complex IRS issues, earning him the nickname "The Tax Problem Solver." He is known for his patient and non-judgmental approach, making his clients feel comfortable even when addressing tough tax situations.
In 2008, Charles was honored with the Top Practitioner Award by the American Society of Tax Problem Solvers.
Charles is licensed in both New Jersey and Pennsylvania and holds the Chartered Global Management Accountant (CGMA) designation. He is an active member of the AICPA, NJCPA, PICPA, and the American Society of Tax Problem Solvers.
When he is not helping clients navigate the complexities of tax law, Charles enjoys spending time with his wife, children, and grandchildren, watching the Philadelphia Phillies and Eagles, golfing, and fishing.
Non-Member Price $209.00
Member Price $109.00