Proper Preparation Submission & Negotiation Offers in compromise Best Practice

Course Description
Course Qualification
Presenter
FAQ

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 to period. Other than negotiating a simple installment agreement for the repayment of tax debts, Offers in Compromise (OICs) 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 an 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 covers IRS rules for processing Offer applications, how the Offer investigation process works, and some helpful tips for writing better Offers.

This Online CPE Tax webinar covers the following Key Topics:

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

Click here to access more CE courses on IRS Audit, Representation, and Resolutions.

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 of assets
To recognize the monthly ability to pay
To Know when to file an OIC (and when to wait)

Recommended For

This IRS-Approved CE course for EAs is also recommended for CPAs, AFSPs, Tax Professionals, and Other Professionals helping clients with IRS representation and resolution.

Who Should Attend?

Accountant
California Registered Tax Professional
CPA - Mid Size Firm
CPA - Small Firm
CPA in Business
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

Course Qualification

Webinar Qualifies For

1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00252-20-O)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0260)
1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00252-20-O)
1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00252-20-O)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookeeper

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

Group Internet Based
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Larry Heinkel, LLM

Tax & Bankruptcy Attorney, Tax Problem Solver

Mr. Heinkel has degrees in accounting, law and a master’s in tax law (LL.M.) (all with honors) and has been published in the Notre Dame Law Journal, the Journal of Real Estate Taxation, and The Florida Bar Journal among others. Mr. Heinkel is a nationally-known expert on tax procedures and resolution, representing people literally all over the world. Further, he is also probably one of the very top experts in discharging taxes in bankruptcy and has presented boot camps, seminars, webinars and other presentations and on this and resolution-related topics around the country. He also graciously makes himself available to consult with other professionals around the country, usually free of charge.

About Company

Tax Problem Solver

taxproblemsolver.com/

We have a team of seasoned tax professionals (attorneys, CPAs, EAs, former IRS Appeals Officer, etc.) who successfully resolve tax problems for people and companies literally worldwide.

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.
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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.
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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

4.7

224 Ratings

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Melissa Spice, EA

Nov 21st, 2020

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.