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Proper Preparation Submission & Negotiation - Offers in compromise(OIC)

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC
Proper Preparation Submission & Negotiation - Offers in compromise(OIC)

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-00252-20-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0260)

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 Oregon Tax Preparers (Approval No. GEHNZ-T-00252-20-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00252-20-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

An offer in compromise (OIC) is an application to settle an IRS tax liability for less than the full amount of tax and penalties that are due for a period or periods. Other than negotiating a simple installment agreement for the repayment of tax debts, Offers in Compromise (OIC’s) are one of the biggest weapons in a practitioner’s arsenal, and can be one of the more lucrative areas of practice as well.  With a sample fact pattern, we will take  you step-by-step through how an OIC is prepared, submitted, and negotiated. 

This continuing education webinar provides a overview of the Offer in Compromise program for tax professionals representing taxpayers with unpaid federal tax obligations and discusses the pros and cons of the Offer program, and briefly cover IRS rules for processing Offer applications, how the Offer investigation process works, and some helpful tips for writing better Offers.

This Online CPE Webinar covers following Key Topics:

  • How the OICs theory work?
  • How to value assets?
  • How to determine monthly ability to pay?
  • Why it’s important to consider monthly tax obligations as an “expense” ?
  • When to file OICs?
  • What are the alternatives of OICs?

Learning Objectives

  • To identify the theory behind OICs
  • To recall the overriding rule that must be satisfied for an OIC to be accepted
  • To identify the value assets
  • To recognize the monthly ability pay
  • To Know when to file an OIC (and when to wait)

Who Should Attend?

  • California Registered Tax Professional
  • Chief Accounting Officer
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

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(
    [average] => 4.6912
    [no_of_record] => 204
)
 

4.7

(204)
72%
25%
2%
0%
0%

MS

This is a great program from what I heard on the seminar. Regretfully I am a very small one person semi retired preparer. If I was part of a larger practice what I saw and heard would be very very helpful. I think this would be great tool to use to expand one's business. I am going to look up the cost and recommend to larger firms than mine.

LV

I do tax resolution. It is very messy and time consuming and involves lots of client emotions. I love the way the software is designed to organize it so that I can put more effort into client psychological counseling.

DDR

This webinar along with the one done by Larry Heinkel have been some of the best and most informative sessions I have attended this year. I am member of Larry's tax program and I plan to sign up with IRS Solutions. My firm has already reaped immediate financial benefits by becoming a member of Larry's tax program. Thank you.

YZ

This webinar is why I only give a '4' to many others. For me, it was a very useful bit of information to put into my practice. I am a sole practitioner with no plan to purchase the software immediately, but neither do I plan to respond to so many IRS letters for free, either. Thanks

JE

this was a fantastic webinar. wish it had been available a couple of months ago. going thru 3 audits with two different people and the information in this webinar would have been very helpful in the beginning. still learned some very useful information today,

JS

I am so very pleased that I got into the CPE class on the knick of time. Every CPA should be aware of the options their clients have when owing the IRS at year end. Also....what will happen if they ignore notices and do not pay, I have found that the IRS is sending more letters than ever in my forty year career as a tax professional.