Benjamin Eisenstat Addresses Tax Terms of Art at FBA Tax Law Conference

All tax practitioners, particularly those who do tax controversy work, should be aware of and understand fundamental tax terms that are commonly used in this area, including “deficiency,” “determination,” “assessment,” and other terms of art. But what do these terms actually mean? This panel will demystify fundamental tax terminology and offer the audience helpful tips for how to spot and understand these items in their practice. The panel will also show how these concepts relate to tax cases as they proceed through IRS Exam, Appeals, and litigation.

Learning Objectives:

• Learn fundamental definitional terms in the Code that occur frequently in tax disputes.
• Understand the basic rules on how the IRS treats tax items and how that treatment translates to resolving disputes at administrative and judicial proceedings.
• Identify when a tax item becomes relevant for purposes of triggering statutory and regulatory provisions that govern resolution of that tax item.