Mastering IRS Representation

Learning Objectives

• To identify ways to obtain an Account Transcript, CSED, and other information from the IRS to assist in your battle.
• To identify the theory behind OICs.
• To analyze simple strategies to help clients avoid refund offsets in the first place.
• To recognize when clients are not entitled to Innocent Spouse Relief
• To identify situations when cancellation of indebtedness income may be excluded under section 108.
• To recall the Collection Due Process (CDP) Hearings.
• To know if a Notice of Federal Tax Lien has been filed against your client.
• To identify various defense strategies for TFRP cases.
• To identify various ways of making money and avoid malpractice with clients owing large amounts to the IRS.

Course Description

Notices from the IRS - and especially from the collection division - scare the assessee. However, as tax professionals and a representative, it is required of us to represent the case of our clients in the best possible way. Tax professionals must recognize key procedural tactics and planning methods for taxpayers seeking to avoid collections and compliance actions.

This is only possible in the interest of an assessee when the representative understands the key workings and requirements of the IRS and IRS representation. Law as a continuously changing system in the interest of the public updates some parts continuously and thus changes the practical applicability and the approach to deal with it. 

Tax and Bankruptcy attorney, Larry Heinkel in this CPE webinar provides a refresher as to how to master IRS representations.

This online CPE Tax webinar will cover the following topics:

• Installment Agreements
• In-Business Trust Fund Installment Agreements
• Effect of an Installment Agreement
• How does the OICs theory work, valuation of assets and How do determine the monthly ability to pay?
• Why it’s important to consider monthly tax obligations as an "expense" when filing OIC, and what are its alternatives
• Filing Status Options and Equitable Relief Options
• Injured Spouse Relief
• Issuance of 1099’s
• Exclusions from Gross Income
• School loans, gifts, Deductible Debt, Form 982
• Reduction of Tax Attributes, Federal Tax Liens, Levies & Seizures
• Collection Due Process (CDP) Hearings
• Multi-Year Non-Filers
• How to calculate the trust fund recovery penalty (TFRP)
• How to minimize exposure to the TFRP and How to avoid malpractice when dealing with these volatile cases.
• IRS Circular 230, AICPA Statements on Standards for Tax Services
• IRS practice issues and IRC Sec. 6694 (a) tax return practitioner penalty.
• How “older” income taxes can be discharged in bankruptcy?
• How an OIC is not always the only (or BEST!) option for the affluent taxpayer. 
• How to make money and avoid malpractice by advising clients and bankruptcy attorneys when and whether a tax debt can be eliminated through bankruptcy.

Overview

• Dealing with the IRS collections division

  2 mins
• Making estimated tax payments

  29 mins
• Facts for offer in Compromise (OIC) Illustration

  56 mins
• IRS Section 6015(b)

  106 mins
• Reduction tax attributes

  156 mins
• Collection due process hearings

  196 mins
• IRS' authority to regulate practice before Dept. of Treasury

  252 mins
• Accuracy and Trusthfulness

  279 mins
• Initial classification of tax debts

  306 mins
• Special tolling rule for OIC's

  331 mins