CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

Financial Based Resolutions: Installment Agreements & Currently Not Collectible

  • AFSP
  • CPA (US)
  • CVA
  • EA
  • Tax Preparer
  • CTEC
Financial Based Resolutions: Installment Agreements & Currently Not Collectible

1 Credit

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00361-20-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0364)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00361-20-O)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00361-20-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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

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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.

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

Testimonial

4.6

(340)
69%
25%
5%
1%
0%

RWH

Information presented was excellent and relevant.

MS

Great

VA

NA

HN

myCPE is great

MM

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

JS

Great Experience