Allowable Expenses on Collection Information Statements

Course Description
Course Qualification
Presenter
FAQ

Course Description

The IRS uses Collection Information Statements (Forms 433-F and 433-A) to gather financial information from taxpayers, including self-employed people. These forms ask for your monthly income and expenses and the value of any assets you have, such as bank accounts, real estate, stocks, etc. The IRS uses these financial statements to figure out your ability to pay your balance in full or to make monthly payments if you don’t qualify for a guaranteed or streamlined installment agreement.

This CE/CPE webinar is designed to educate a practitioner on how to effectively leverage the IRS Collection Information Statement (CIS). It will provide an in-depth look at how to prepare CIS forms to request a hardship, PPIA, or an installment agreement under the six-year or one-year rule. It will also a brief overview of the three types of expenses used on CIS forms and how to present this type of financial information to ACS and Revenue Officers.

The IRS’s main collection division, Automated Collections, uses the 433-F form extensively when determining the collectability of a taxpayer with past-due tax balances. Often a taxpayer wants to resolve these back-tax issues, but the IRS default collection schemes are very rigid and unaffordable to a taxpayer that is experiencing or will experience financial hardship. Establishing hardship resolutions with the IRS requires advocacy, negotiation, and substantiation.

This CE/CPE tax webinar will educate a practitioner on the mechanics of the required forms and necessary substantiation to effectively advocate for a client, re: Collection Potential.

Learning Objectives

To analyze proper forms to complete depending on the collection jurisdiction.
To identify expenses that are generally “allowable”, and those that may be deemed “conditional”.
To cite the relevant IRM sections that outline which expenses must be allowed (if reasonable) and which expenses are conditional but may still be allowable.
To analyze how to advocate for expenses that fall outside of the national and local IRS standards.
To inspect which expenses on a collection information statement must be substantiated with documentation and which expenses are deemed reasonable with no proof.

Recommended For

This IRS Approved CE webinar will be insightful for CPAs, EAs, AFSPs, CTECs, Tax Preparers, Tax Professionals, Managers, Business owners, Investors, and anyone else interested in learning everything about IRS Collection Information Statement (CIS).

Who Should Attend?

Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Accountant (Industry)
Tax Firm
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0842)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00904-22-O)
1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00904-22-O)
1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00904-22-O)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookeeper

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

Group Internet Based
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Jessie Seaman

, Community Tax, LLC

Jessie Seaman, Esq & EA, is a licensed Florida attorney and IRS Enrolled Agent. Jessie brings over ten years of state and federal tax controversy and representation to Community Tax clients. Prior to joining Community Tax, she spent over seven years with a leading national tax resolution firm. She has overseen tens of thousands of tax resolution cases from the simplest financial privacy plans to the to the most complex business cases and high-profile celebrity clients.

Jessie is a Florida Native, growing up Boca Raton and moving to Tampa in 2000 for her undergraduate studies. While attending the University of South Florida, Jessie studied abroad in Costa Rica and eventually graduated with a double major: B.A. in Philosophy & B.A. in Political Science. In 2006, she was offered a scholarship from Florida Coastal School of Law in Jacksonville, FL, where she graduated with a Juris Doctorate in 2009. During law school, Jessie interned with the ACLU, worked at Learn to Read, a local non-profit advocating for adult literacy, and was chosen by the Florida Coastal Academic Success Department to mentor incoming students on how to be successful in law school.

Jessie is a member of the Florida Bar, Tax Section, National Association of Enrolled Agents (NAEA), CERCA, and National Tax Practice Institute Fellowship. She is a leading voice within the tax resolution community. Most recently she was asked to teach continuing education courses for the National Association of Accountancy (NSA) and be a lead Instructor at both national conferences for NAEA. She has also served as an adjunct professor teaching various courses including Business Law, State and Local Taxation, Contemporary Business Ethics, and an exam preparation class for the Enrolled Agents Examination. Jessie truly has a passion for tax controversy work and found her passion in this niche field because it is ever-evolving, applicable to all, and in many cases unfairly enforced. As the daughter of small business owners, she is especially passionate about helping business owners understand and overcome their tax challenges. Jessie even helped form and operate a pro bono tax resolution clinic in North Florida to assist those taxpayers who simply could not afford to hire professional representation for IRS and state tax issues.

About Company

Community Tax, LLC

www.communitytax.com/

In 2010, Community Tax set out on a mission to solve tax problems for individuals and businesses across the United States. After growing into a national tax resolution leader, we set our focus on becoming a true full-service tax organization assisting individual taxpayers and businesses with all their needs, ranging from tax resolution to preparation, bookkeeping, accounting, payroll, and more.

Our company is staffed with some of the most seasoned professionals in their respective areas, including licensed attorneys, CPAs, and Enrolled Agents. We boast an A+ rating from the Better Business Bureau and have prepared tens of thousands of tax returns, resolved nearly a billion dollars in tax delinquencies, and most importantly, have helped countless customers get their financial lives back on track.

Behind our success is an unwavering commitment to our client-focused, results-driven approach to the wide variety of services we offer. We pride ourselves on being open and transparent with each client as we work tirelessly on their case.

Even as times become uncertain, we remain committed to fighting for you, so you will not have to face the IRS alone. Our tax professionals are in your corner and ready to tackle any tax problem you may have.

Faq

FAQs content

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