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The IRS Offer In Compromise Program

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • MRTP
  • CFIRS
  • CWS

Published: July, 2020

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Overview of the IRS Offer in Compromise Program
    3 mins
  • How the Offer in Compromise Program Works
    9 mins
  • Doubt as to Collectability (DATC): What Makes These Offers Acceptable?
    25 mins
  • Effective Tax Administration (ETA) Offers
    40 mins
  • Doubt as to Liability (DATL) Offers
    48 mins

Course Description

Most professionals and businesses are focused on filing a tax return with the lowest legitimate tax liability. However, it is just half the battle. Payment of such tax is the other part of the battle that the client is left to manage. There are short-term as well as long-term installment agreements with the taxing agencies that can help resolve such a problem. Many times, tax agencies allow taxpayers to settle their tax liabilities for less than the tax, penalty, and interest owed. Numerous tax practices are focused on helping individuals manage their liabilities to prevent potential liens, levies, etc.

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 one or more periods. This Online CE webinar on Taxes provides a rapid-fire 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. The purpose of the Offer-in-compromise Program, types of Offers in Compromise, Offer Qualifications and Financial Analysis, how the IRS processes Offers, and potential outcomes. This CE webinar will discuss the IRS’ Offer-in-compromise program. It will be covering the program’s objectives and what’s new with the Offer program. We will also briefly discuss the Offer-in-compromise Pre-Qualifier Tool.

The following are the Key Highlights of the Online CPE/CE webinar on Taxes:

  • Know the IRS offer-in-compromise program
  • Learn how the OIC program works
  • What makes these offers acceptable (DATC)?
  • Learn effective tax administration
  • Clear your doubts as to liability offers

This webinar is useful for any proactive, current, or prospective, Circular 230 practitioner that understands the IRS is ramping up the "close the tax gap". Tax practitioners who want to protect their existing clients from IRS' predatory collections action and grow their business in this rapidly expanding market.

You may be interested in the Certified Specialization Series in Tax Representation.

Learning Objectives

  • To explore the objective of the Offer-in-compromise Program
  • To differentiate between the 3 types of Offers
  • To recognize financial analysis within the scope of an Offer
  • To identify the information required for an OIC
  • To discuss the potential outcomes of an OIC

Recommended For

  • This Online CPE webinar on Taxes is recommended for CPA, CASL, and Other Accounting and Tax professionals who desire to help their clients with special tax situations. 
  • This Online CE webinar on Taxes is recommended for EA, MRTP, CRTP, ORTP, and Other Professionals who desire to help their clients with tax services for individuals.

    Who Should Attend?

    • Accountant
    • Accounting Firm
    • Cloud Firms
    • CPA (Industry)
    • CPA - Large Firm
    • CPA - Mid Size Firm
    • CPA - Small Firm
    • CPA in Business
    • Enrolled Agent
    • Entrepreneurial CPA
    • Personal Financial Specialist
    • Personal Financial Specialist (PFS)
    • Tax Attorney
    • Tax Firm
    • Tax Practitioners
    • Tax Preparer
    • Tax Pros
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)
    • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0166)
    • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
    • 1 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00147-20-S)
    • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP)
    • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00147-20-S)
    • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
    • 1 CE Credit for Certified Wealth Strategist (CWS)
    • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals

    Additional details

    • Course Level :
      Basic
    • Credits :
      1
    • Instructional Method :
      QAS Self Study
    • 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

    Venar Ayar, JD

    Principal, Ayar Law

    Venar Ayar is the principal and founder of Ayar Law and focuses his legal practice on IRS and Michigan tax resolution for both businesses and individuals. He has personally handled a multitude of cases including defending tax audits, negotiating favorable settlements for back taxes, setting up tax payment plans, arranging release of tax liens and levies, defending criminal tax fraud cases and advising those with foreign bank accounts who have not complied with reporting requirements. He represents clients with multi-million dollar assets at stake as well as those with only thousands in assets.

    Born and raised in metro Detroit, Michigan, Venar returned to open a tax problem resolution practice when he saw the alarming number of taxpayers struggling due to the downturn in the local economy. He saw there were few qualified and ethical Michigan tax resolution lawyers, but an abundance of scam artists who were taking advantage of taxpayers who needed help.

    Prior to opening his Michigan practice, Venar was a tax attorney at RJS Law, southern California’s largest tax law firm. Before working there, Venar worked for several years in metro Detroit as a busy and successful solo tax law practitioner.

    In addition to years of experience practicing as a Michigan tax attorney, Venar has owned or operated several small businesses, including an accounting and tax preparation business, supermarkets and a hotel. His business background gives him a solid understanding of the challenges facing small businesses today.

    About Company

    Ayar Law

    ayarlaw.com/

    Venar is an award-winning tax attorney ranked as a Top Lawyer in the field of Tax Law. Mr. Ayar has a Master of Laws in Taxation – the highest degree available in tax, held by only a small number of the country’s attorneys. Venar Ayar and his firm are truly competent and ethical Tax Lawyers who will vigorously defend taxpayer rights. We know how to…

    • Protect your bank accounts and property
    • Stop the IRS from harassing you
    • Negotiate settlements for a fraction of the amount

    Tax Law is all we do, and we know how things actually work at the IRS. We can favorably resolve your Federal or State, personal or business tax problems – anything from unfiled tax returns to foreign bank account issues.

    Faq

    FAQs content

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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.
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    • 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

    4.5

    250 Ratings

    Excellent

    164

    Very Good

    55

    Average

    23

    Poor

    7

    Terrible

    1

    CE

    Caroline Evans, Accountant

    Jul 28th, 2020

    Excellent presentation, as advertised, was clear where a practitioner would need to do more research.

    SYM

    Siu Yin Man, CPA (US)

    Sep 9th, 2020

    The presenter is very knowledgeable and presented the material in details and easy to understand.

    AA

    Ashraf Abdallah

    May 20th, 2020

    Where professional value addition unites with decent social mission is my-cpe.com. Thank you

    RM

    Renee Mayden, Accountant, Tax Professional, RTRP

    Aug 6th, 2020

    Nicely done and information was excellent. Understanding the steps now

    PA

    Pamellia Anthony

    Sep 1st, 2020

    This is my second class for Mr. Ayar and I like his teaching style

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