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How the IRS Analyzes Taxpayer Finances to Determine Ability to Pay

4.6 (499)

Venar Ayar, JD

Ayar Law

Thursday, January 07, 2021 | 12:30 PM EDT

  • AFSP
  • CPA
  • EA
  • Tax Preparer
  • Oregon Tax Preparer
  • CTEC

1 Credit

FREE

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-00328-20-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0332)

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

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00328-20-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00328-20-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

Course Description

As a Tax practitioner, you usually have to deal with cases that need clarity about what is the approach of the IRS in analyzing the details from the taxpayer. It is a very useful insight if your clients have to deal with and negotiate with the IRS about what amount they can pay for taxes. 

Especially for the professionals dealing with IRS on a regular basis understanding how the IRS looks at a taxpayer’s financial situation is imperative to success when negotiating resolutions for clients. This provides them the edge over what should be represented and how it should be represented. 

In this webinar, participants will get a key understanding of:

  • How the IRS analyzes a taxpayer’s finances
  • How IRS secures, verifies, and analyzes financial information 
  • How the IRS will use that information to determine the taxpayer’s ability to pay

This is going to be a very useful webinar for the tax practitioners who wants to win their clients negotiations or represent them efficiently. 

Learning Objectives

  • To recognize the purpose of a financial analysis and how it is used to determine a taxpayer’s Reasonable Collection Potential
  • To familiarize with the various Collection Information Statements that the IRS uses to collect financial information
  • To identify the differences between business financial information and individual financial information and how the IRS views both
  • To familiarize with how the IRS looks at expenses as a whole, including the IRS Collection Financial Standards
  • To familiarize with the various ways and methods in which the IRS can verify a taxpayer’s financial information

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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    [no_of_record] => 499
    [average] => 4.5872
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4.6

(499)
65%
30%
6%
0%
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SP

So informative

BL

While I don’t encounter this topic in my current position, it is nice to learn about various topics through CPE. This topic was well presented and very informative.

VS

Great

WT

Excellent presentation!!!

JS

Venar Ayar is the Best !! Great information Great presentation Great presenter!!!

NR

Very good webinar. I have done OIC and many installment agreements but I still learned several new things. Wish it was longer so he could go int even more details or take Q & A