How the IRS Analyzes Taxpayer Finances to Determine Ability to Pay

4.6 (299)

Venar Ayar, JD

Ayar Law

Thursday, March 04, 2021 | 03:30 PM EST

  • AFSP
  • CPA
  • EA
  • Tax Pros
  • CTEC

1 CPE | 1 CE

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

1 CE credit of Federal Tax for Oregon Tax Preparers

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

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

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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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?

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

Testimonial

4.6

(299)
64%
31%
5%
0%
0%

JHK

Great Webinar!

AB

all good

RB

Overall, I don't see a lot in the area of representation before the IRS which required the more unique features, and this course is one of those areas which will prepare me for the potential work.

SO

GOOD

WZ

Thank you MyCPE!

TP

The content of the course was very informative and extremely useful. The presenter was very knowledgeable and professional. I will definitely attend other courses with this instructor. Thank you