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Although millions of individual and business taxpayers carry unresolved IRS tax debt, only a small percentage successfully secure an Offer in Compromise (OIC). While the OIC program can allow qualifying taxpayers to settle their tax liabilities for less than the full amount owed, improper analysis, incomplete financial evaluations, and procedural errors frequently lead to rejection.
This in-depth, four-hour online course provides tax professionals with advanced, practical guidance on evaluating, calculating, and executing Offer in Compromise cases with confidence. Participants will examine current IRS collection trends, analyze OIC eligibility requirements, perform reasonable collection potential calculations, and walk through both individual and business OIC case studies from start to finish. The course also addresses common disqualifying issues and compares OICs with alternative IRS collection options to ensure practitioners select the most effective resolution strategy for each client’s unique circumstances.
Who Should Attend
This course is designed for tax professionals who want to confidently assess, structure, and execute Offers in Compromise for clients with significant IRS debt.
Topics Covered
- IRS Offer in Compromise fundamentals and legal authority
- Overview of IRS collection alternatives and positioning of the OIC
- Offer in Compromise trends and common acceptance barriers
- Eligibility determination and offer amount calculations
- Financial analysis requirements for OIC submissions
- OIC application preparation and IRS investigation process
- Individual and business Offer in Compromise case studies
- Evaluating alternative collection options when an OIC is not appropriate
Learning Objectives
- Analyze current IRS collection trends and the role of the Offer in Compromise program within IRS enforcement
- Explain the structure, purpose, and legal framework of the IRS Offer in Compromise program
- Evaluate individual and business clients to determine eligibility for an Offer in Compromise
- Calculate reasonable collection potential to determine appropriate OIC settlement amounts
- Identify financial, procedural, and compliance issues that disqualify OIC submissions
- Apply the IRS financial analysis used in OIC qualification and offer calculations
- Execute the OIC application and investigation process using real-world case examples
- Differentiate when alternative IRS collection options provide better outcomes than an OIC
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
Basic understanding of Offer in Compromise
Advance Preparation
None
Instructor
Jim Buttonow
Jim Buttonow, CPA, CITP, has been a leader in helping taxpayers and tax professionals resolve tax problems with the IRS.
For 19 years, Jim worked at the IRS in various compliance enforcement positions. Since 2006, Jim has been in private practice and tax and accounting software development. Jim consulting practice focuses on the areas of tax controversy and tax administration. Jim led product development and marketing for a successful software company that developed tax problem software for tax professionals and has developed and implemented post-filing tax services to large tax providers, such as H&R Block and Jackson Hewitt. This software is currently being used by tens of thousands of tax professionals and businesses in the United States.
Jim has been an IRS partner in improving IRS operations and post-filing service to taxpayers. Jim served as chairperson of the IRS Electronic Tax Administration Advisory Committee (ETAAC) in 2015 and 2016 during which ETAAC played a central role in promoting the IRS digital strategy to develop transformative technology solutions to systemic challenges in tax administration. Jim also served as the North Carolina representative on the IRS’ Taxpayer Advocacy Panel (TAP) from 2020-2022.
Jim regularly speaks on areas of tax administration and problem solving to national associations and has testified before Congress in areas of tax administration. He has also published many articles in industry publications. In his articles, Jim focuses on delivering practical insights, advocating for IRS transparency and efficiency, and proposing innovative large-scale solutions for taxpayers and tax professionals.
Jim currently authors the Tax Problems and Solutions Handbook, a publication aimed at helping tax pros work more effectively in post-filing matters and resolving their clients’ most common tax problems. The book can be found online at TaxProblemsHandbook.com. Jim can be reached at Jim@buttonowcpa.com or at his website at buttonowcpa.com.