Before starting this self study progarm, please go through the Instructional Document.
DownloadCourse Details
Overview of Topics
- Overview of the IRS Offer in Compromise Program3 mins
- How the Offer in Compromise Program Works9 mins
- Doubt as to Collectability (DATC): What Makes These Offers Acceptable?25 mins
- Effective Tax Administration (ETA) Offers40 mins
- Doubt as to Liability (DATL) Offers48 mins
Course Description
In this course attendees will be introduced to the IRS Offer in Compromise Program. 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.
Learning objectives
- Understand the objective of the Offer in Compromise Program
- Be able to differentiate between the 3 types of Offers
- Have an understanding of a financial analysis within the scope of an Offer
- Be able to identify the information required for an OIC
- Know the potential outcomes of an OIC
About Presenter
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.
Venar Ayar and his firm are truly competent and ethical Tax Lawyers who will vigorously defend your 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.
Review Questions
- Question 1 : 00:15
- Question 2 : 00:30
- Question 3 : 00:50
- How does the IRS calculate offer in compromise?
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- Which is the grounds for accepting an offer in compromise?
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- ____________ occurs when a taxpayer is unable to pay reasonable basic living expenses. The determination of a reasonable amount for basic living expenses will be made by the Internal Revenue Service and will vary according to the unique circumstances of every individual taxpayer.
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- Which section grants the Secretary of the Treasury broad authority to compromise tax liabilities?
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- What is required for ETA offer?
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- ETA states for:
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- Who is eligible for offer in compromise?
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- Which form is there for DATL offers?
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FAQ
- myCPE self-study courses are online.
- The self-study format allows you to access the material online 24/7 and study at your own pace.
- As per NASBA guidelines, you have one year from date of registration to complete each program.
- Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
- Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
- Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
- These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
- For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
- Please email to help@my-cpe.com in case of any self study program queries.
Reviews
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HBHarvey Burger , CPAJun 8th 2020This presenter was excellent. His speaking style is concise and easy to understand. He presents the right amount of theory, practice tips, and application examples. I will look to further courses from him in the future.
NASBA Approved
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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.
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
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.
On-Demand Webinars
Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients
Tuesday, July 28, 2020 View Details/RegisterTax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec
Monday, July 27, 2020 View Details/RegisterBEYOND WORKING REMOTELY – CASE STUDIES | BENEFITS | CHALLENGES FOR ACCOUNTING & TAX FIRMS.
Friday, July 24, 2020 View Details/Register
- Cost FREE
- CPE Credits 1
- CE Credits 1
- IRS Course ID GEHNZ-T-00147-20-S
- CTEC Course ID 6273-CE-0166
- Subject Area Taxes
- Course Level Basic
- Instructional Method QAS Self Study
- Prerequisites None
- Advanced Preparation None
- Recorded Date July 07 ,2020
- Published Date July 07 ,2020
- Who should attend? Enrolled Agent Tax Attorney Tax Practitioners CPA - Small Firm CPA - Mid Size Firm CPA - Large Firm Accounting Firm Tax Pros Tax Firm Young CPA CPA in Business Entrepreneurial CPA Cloud Firms Tax Preparer
- Handout Material Download
- Key Terms Download
On-Demand Webinars
Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients
Tuesday, July 28, 2020 View Details/RegisterTax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec
Monday, July 27, 2020 View Details/RegisterBEYOND WORKING REMOTELY – CASE STUDIES | BENEFITS | CHALLENGES FOR ACCOUNTING & TAX FIRMS.
Friday, July 24, 2020 View Details/RegisterPay Invoice
Registration Payment
