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IRS Representation Series - Doing Offer-in-Compromise - How to Complete the Form 656 Application

IRS Representation Series - Doing Offer-in-Compromise - How to Complete the Form 656 Application

3 Credits


Subject Area


Webinar Qualifies For

3 CPE credit of Taxes for all CPAs

3 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00652-21-S)

3 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0618)

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

3 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00652-21-S)

3 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00652-21-S)

3 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

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

The topic is also scheduled as live webinar on the following dates

Oct 26, 2021 | 03:00 PM EDT Register


  • Table of Contents
    2 mins
  • IRS Criminal Investigations Focus
    13 mins
  • Forms and Complexity
    29 mins
  • IRC Trumps IRM on ETA
    56 mins
  • Payments Offered
    95 mins
  • Bunny - Form 656 - the offer
    139 mins

Course Description

This Tax Resolution CPE webinar is designed to walk you through an Offer in Compromise.

Why do you think IRS would be willing to allow taxpayers to pay pennies on the dollar?

An Offer-in-Compromise (OIC) allows taxpayers to reach an agreement with the IRS to pay less than the total owed. In this online continuing education course, you'll receive a detailed 6-step guide to requesting an OIC to achieve a reasonable settlement for your client.

This online CPE webinar will cover the following topics:

  • Understanding the Offers
  • Doubt as to Liability
  • Effective Tax Administration
  • Doubt as to Collectability
  • Influence/optimize the outcome
  • Strategies for Offers
  • Presenting the Offer
  • Setting Expectations
  • Plan for Appeals

This Online Accounting CPE Course is one of the best courses for Accountants and Approved for CPE Credits for CPA, AFSP, EA, & other tax preparers. It's a Part of Series:

Learning Objectives

  • To identify functions of an IRS field team visiting employers who are delinquent on their payroll tax payments
  • To recognize if there is any way to get the IRS to accept the higher numbers, if your client's expenses are well over the National Standards
  • To describe the percentage of submitted Offers in Compromise (OICs) does the IRS accept (rounded to the nearest percentage)
  • To recognize what level of tax liability will a taxpayer's file be turned over to Revenue Officers (ROs) in the field
  • To identify which set of expenses the IRS must use when preparing the monthly income and expense statement on any version of Form 433
  • To differentiate which type of OIC is appropriate
  • To recognize how to prepare the OIC and present the offer
  • To identify the taxpayer’s role when it comes to Effective Tax Administration (ETA)
  • To identify what you should do when sending documents to the IRS
  • To differentiate reasons the IRS would even consider an OIC when they have the power to collect the money, attach assets, levy wages, and bank accounts

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Public Accountant
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA