IRS Practice Series: 6 Simple Steps to an Offer-in-Compromise: Completing Form 656 (Completed)

This course will discuss the various "how to" gather, understand and present documentation to support your case. The course will guide you through the 433 series of forms and explain when each form is used, what the national standards are and when to use them, when and how you can go beyond those standards and the documentation necessary, and helping you clients "plan their expenses" to get the best deal.

As our “thank you for attending” gift, participants registered for this webinar will receive a complimentary electronic issue of Wolter Kluwer’s Journal of Tax Practice & Procedure

Who Should Attend
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.

Topics Covered

• Doubt as to Liability
• Audit reconsideration
• Innocent/injured spouse
• Forged return
• Doubt as to collectability
• Effective Tax Administration
• Valuing assets
• Minimize the required deposits
• Departure from IRS standards
• Collateral Agreements
• Requirements once OIC is accepted
• Strategies for OIC payments
• Appeals

Learning Objectives

• Determining which type of OIC is appropriate
• Recognize how to prepare the OIC and present the offer

Level
Advanced

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
IRS Practice Series: Overview of Collection Issues and IRS Practice Series: 10 Steps to Resolving Collection Issues and IRS Practice Series: Hands-on Collections Workshop (or equivalent knowledge).

Advance Preparation
None.