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Financial Based Resolutions: Installment Agreements & Currently Not Collectible

  • AFSP
  • CPA (US)
  • CVA
  • EA
  • ORTP
  • CRTP
  • Maryland Tax Prep.

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

Numerous taxpayers file balances due to tax returns. Some pay it in time, some pay it late, while some cannot pay it in the payable period after it being due. The IRS provides two major financial-based solutions to the taxpayers if they qualify:

  • Installment Agreements 

                         An Installment Agreement (IA) is an arrangement by which IRS allows taxpayer to pay over time. Taxpayers are encouraged to full pay to keep costs down (interest and penalties, user fee, etc.) Generally, no levy may be made while IA is pending, for 30 days after rejecting, while denial in appeals, while IA in effect, and for 30 days after termination of an IA.

  • Currently Not Collectible Status

                             Most common grounds for a taxpayer to be placed into CNC status is if collection of liability would create a hardship by leaving taxpayer unable to meet necessary living expenses. It is also relevant for for businesses who can stay current, but not able to make IA payments.

This online CPE/CE webinar covers the following key topics:

  • The webinar will answer key questions from the tax practitioner’s perspective like “what kind of installment agreement should my client be entered into?” and “what are the requirements for entering into an installment agreement?” 
  • The webinar will also provide a peep into other factors that affect installment agreements, such as Collection Statute Expiration Dates and Full Pay vs. Partial Pay. 
  • The webinar will also explore how Currently Not Collectible Status works and how to determine if your client qualifies for it. 
  • The webinar will discuss things like financial hardships, and situations in which the IRS can’t contact a taxpayer.

This tax CE webinar will be a key input provider for the tax practitioners for the clients who need financial-based resolutions. 

Learning Objectives

  • To familiarize with how installment agreements work, including what they are, how to set one up, what’s required, and the different types.
  • To recognize what the Collection Statute Expiration Date (CSED) is, how it works, and how it applies to tax debt.
  • To explore how an Installment Agreement is rejected and what happens when the IRS decides to terminate an existing Installment Agreement.
  • To define Currently Not Collectible Status, and how to qualify a client, whether an individual or a business.
  • To explore how to establish hardship.

Recommended For

This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, Tax Attorneys, and Other Tax professionals engaged in providing financial-based resolutions.

    Who Should Attend?

    • Accountant
    • Accounting Firm
    • Bookkeepers & Accountants & Tax Preparers
    • California Registered Tax Professional
    • CPA - Mid Size Firm
    • CPA - Small Firm
    • Maryland Tax Preparers
    • Oregon Tax Preparers
    • Senior Accountant
    • Tax Attorney
    • Tax Firm
    • Tax Managers
    • Tax Practitioners
    • Tax Preparer
    • Tax Professionals
    • Tax Pros
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
    • 1 CPE Credit for Certified Valuation Analyst (CVA)
    • 1 CE Credit of Federal Tax for Enrolled Agents (EA) (Approval No. GEHNZ-T-00361-20-O)

    Presenter

    About Presenter

    Venar Ayar, JD

    Principal Ayar Law

    Venar Ayar is the principal and founder of Ayar Law and focuses his legal practice on IRS and Michigan tax resolution for both businesses and individuals. He has personally handled a multitude of cases including defending tax audits, negotiating favorable settlements for back taxes, setting up tax payment plans, arranging release of tax liens and levies, defending criminal tax fraud cases and advising those with foreign bank accounts who have not complied with reporting requirements. He represents clients with multi-million dollar assets at stake as well as those with only thousands in assets.

    Born and raised in metro Detroit, Michigan, Venar returned to open a tax problem resolution practice when he saw the alarming number of taxpayers struggling due to the downturn in the local economy. He saw there were few qualified and ethical Michigan tax resolution lawyers, but an abundance of scam artists who were taking advantage of taxpayers who needed help.

    Prior to opening his Michigan practice, Venar was a tax attorney at RJS Law, southern California’s largest tax law firm. Before working there, Venar worked for several years in metro Detroit as a busy and successful solo tax law practitioner.

    In addition to years of experience practicing as a Michigan tax attorney, Venar has owned or operated several small businesses, including an accounting and tax preparation business, supermarkets and a hotel. His business background gives him a solid understanding of the challenges facing small businesses today.

    About Company

    Ayar Law

    ayarlaw.com/

    Venar is an award-winning tax attorney ranked as a Top Lawyer in the field of Tax Law. Mr. Ayar has a Master of Laws in Taxation – the highest degree available in tax, held by only a small number of the country’s attorneys. Venar Ayar and his firm are truly competent and ethical Tax Lawyers who will vigorously defend taxpayer rights. We know how to…

    • Protect your bank accounts and property
    • Stop the IRS from harassing you
    • Negotiate settlements for a fraction of the amount

    Tax Law is all we do, and we know how things actually work at the IRS. We can favorably resolve your Federal or State, personal or business tax problems – anything from unfiled tax returns to foreign bank account issues.

    Faq

    FAQs content

    • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
    • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
    • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
    • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
    • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
    • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
    • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
    • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
    • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
    • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

    Ratings and Review

    4.6

    350 Ratings

    Excellent

    240

    Very Good

    90

    Average

    17

    Poor

    3

    Terrible

    0

    MS

    Marsha Swanigan, ACCT/BK, AFSP

    Sep 17th, 2021

    Great

    VA

    Vivian Abercrombie, AFSP

    Sep 16th, 2021

    NA

    HN

    Hari Narayan, CPA (US)

    Sep 16th, 2021

    myCPE is great

    MM

    Mary Moffitt, EA

    Sep 15th, 2021

    Great job. Good presentation on the basics of IA's.

    JS

    John Stea, CPA (US)

    Sep 15th, 2021

    Great Experience

    Financial Based Resolutions: Installment Agreements & Currently Not Collectible

    $10

    1 Credit

    Subject Area

    Taxes

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