DESCRIPTION
There’s never been a better time to resolve a delinquent tax problem with the IRS. Not so much because of COVID-19, but because the IRS has a much more open mind when it comes to negotiating delinquent tax debts. The “Fresh Start Initiative,” changes to the Offer in Compromise Program, the Collection Due Process appeal rights, and instalment agreement options, all make it possible to pay taxes on your terms, not theirs. On top of that when, the IRS even more willing to negotiate when they know a tax liability is dischargeable in bankruptcy.
Learning Objectives:
Attendees will understand all the basis of:
- Installment agreement options, including getting a client declare “currently not collectible”
- The four options for an offer in compromise
- When Collection Due Process Appeal rights are available and how to invoke them
- The options for challenging the assessment of penalties
- How to determine if a tax liability is dischargeable in bankruptcy
Session Highlights:
This webinar will covers basics of the following Tax Amnesty Programs:
- Uncollectible status
- Installment Agreements generally
- Collection Due Process Appeals
- Partial Pay installment agreement
- The Offer in Compromise
- Forgiveness of Penalties and Interest
- Bankruptcy basics
Who Should Attend?
- Certified Public Accountants (CPA’s)
- Enrolled Agents (EA’s)
- Tax Attorneys
- Other Tax Preparers
Credits and Other information:
- Session Prerequisites and preparation: None
- Recommended CPE credit – 2.0
- Recommended field of study – Tax
- Session learning level: Basic
- Delivery method: Group Internet Based
Thecpeeducator is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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