IRS Collection Alternatives - Offers in Compromise and Payment Plans

The Internal Revenue Service (IRS) provides several options when a taxpayer needs assistance paying a tax debt or cannot pay at all. This webinar will discuss the various options available to taxpayers. Those options include payment plans, currently not collectible, and Offers in Compromise. Practitioners need to understand these various options so they can best advise their clients. Not every taxpayer is eligible for a payment or an Offer In Compromise. Our expert speaker will discuss how to approach the IRS, the strategies involved, and the required (and not required) financial statements and information to provide to the IRS.

Webinar Objectives

This program will provide insight and tools to assist you and your clients understand how to secure a collection alternative from the IRS – Payment Plan, Offer In Compromise, or Currently Not Collectible Status.

Webinar Highlights

• Overview of IRS Collection Process
• IRS Payment Plans
• IRS Offers In Compromise
• Currently Uncollectible Status
• Financial Disclosures

Who Should Attend

Accountants, tax preparers, CFOs, financial compliance professionals, and lawyers

Client Testimonial (MarcT)

This was my second tax law related seminar (one on civil tax fraud and the other on penalty abatement requests) presented by attorney Adam Fayne. He explains the complex clearly (e.g., the elements of civil tax fraud, defenses, and the IRS’s burden of proof), he understands what he is talking about (e.g., frequently providing numerous real-world examples from his own tax law practice), and he has depth of knowledge of tax law (which is rare for such a vast topic). He does the little things that a seminar attendee would appreciate. His slides seen throughout the seminar are a helpful and concise resource for later reference. Also, Mr. Fayne  took the time at the beginning to let us know about a recent US Tax Court decision decided days before the seminar that provides potential refund opportunities to taxpayers inappropriately assessed “Form 5471 penalties.” Similarly, he mentioned and cited on slides, when relevant, citations to the tax code, the  Internal Revenue Manual, and case law. I’d give both seminars I have attended my highest recommendation to experienced tax practitioners, as well as those new to that practice.

Credit(s)

IRS CPE Credits: 1 Tax hour