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The IRS Offer In Compromise Program

The IRS Offer In Compromise Program

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-00147-20-S)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0166)

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-00147-20-S)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00147-20-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

  • 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

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 a period or periods.

This presentation 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 cover 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 presentation will discuss the IRS’ Offer in Compromise program. We 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.

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 a period or periods.

KEY HIGHLIGHTS OF PROGRAMS:

  • 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 into this rapidly expanding market.

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

Who Should Attend?

  • Accounting Firm
  • Cloud Firms
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

4.6

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