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Dealing with IRS Collections Division (Part I)

Dealing with IRS Collections Division (Part I)

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-00246-20-S)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0253)

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-00246-20-S)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00246-20-S)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.

Overview

  • General Background Information
    1 mins
  • Statute of Limitations
    11 mins
  • Making Designated Payments
    21 mins
  • Installment Agreements
    33 mins
  • In-Business Trust Fund Installment Agreements
    47 mins

Course Description

Many tax professionals concentrate on tax planning and compliance, along with (perhaps) the audit of tax returns they have prepared. Some venture into the “controversy” world of resolving IRS tax problems.

On Mar. 26, 2020, the IRS released its new "People First Initiative" as part of its continued efforts to provide relief to taxpayers in light of COVID-19. Further guidance continues to be rolled out. For taxpayers who are currently under audit, in an appeal before the IRS Independent Office of Appeals, or the United States Tax Court, or are now in collections with the IRS, this offers a unique opportunity to limit their liability. It also comes with substantial pitfalls for advisors if they fail to fully appreciate the limits of the relief being provided by the IRS.

Tax professionals must recognize key procedural tactics and planning methods for taxpayers seeking to avoid collections and compliance actions. For those taxpayers already subject to IRS enforcement actions or currently under audit, the time is now to revisit collection solutions based on the impact of COVID-19 and the current state of the economy. Tax Problem Resolution work (or “controversy” work) consists, generally, of representing clients in audits (and possible appeal of an adverse audit); and representing clients with tax debts before the IRS Collections Division. 

This Online CPE Webinar covers the following Key Topics:

  • Installment Agreements
  • Requesting Installment Agreements
  • In-Business Trust Fund Installment Agreements
  • Effect of an Installment Agreement

CPAs and Tax professionals represent taxpayers before the United States Tax Court, District Courts, Bankruptcy Courts, and some also handle criminal investigations and trials. Knowing the rules, what you can and cannot do, what IRS can and cannot do, is all part of the game and if you play it well, you can resolve clients’ tax debt problems ethically, successfully, and profitably.

Click for more webinar on IRS Audit, Representation, and Resolutions

Learning Objectives

  • To identify ways of preparing Powers of Attorney
  • To identify ways to Obtain Account Transcript, CSED, and other information from IRS to assist in your battle
  • To identify ways to determine the collections statute of limitations
  • To identify ways to to make Designated Tax Payments
  • To identify ways to make Monthly Estimated Tax Payments

Who Should Attend?

  • California Registered Tax Professional
  • CPA (Industry)
  • 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