IRS Practice Series: Hands-on Collections Workshop

Author: Eva Rosenberg

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Course participants learn more about the 433 Series Collection Information forms and the national standards that govern them. The course also addresses client expense planning to ensure the best deal possible.

Publication Date: June 2019

Designed 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 tax practitioners who want to grow their business into this rapidly expanding market.

Topics Covered

  • 8 Steps to Filling out the Form 433 Series
  • Taxpayer Compliance
  • Which Form?
  • National Standards for living expenses
  • 433F
  • 433A
  • 433B
  • Gathering Documentation
  • Timing & Strategy

Learning Objectives

  • Recognize how to use Collection Information forms, National Standards, and how to support your claims
  • Identify ways tax practitioners can learn to expand their practice base to include representation
  • Differentiate which forms to use to provide client's financial information and status to IRS
  • Recognize what to include with 455 Forms when sending to the IRS
  • Identify the best way to reduce a client's tax debt
  • Describe the earliest instance in which you may submit an offer
  • Identify how a client should use the money first, when they owe IRS back taxes (Form 1040) for a period of 5 tax years, if a client only has limited funds
  • Recognize which category doesn't have a national standards
  • Differentiate which strategies will not help us stop the IRS from taking further aggressive collections actions
  • Identify where you can find the procedural rules IRS employees must follow to collect taxes
  • Describe the best strategy when working an offer case
  • Recognize which taxes must be paid for your client to be in compliance
  • Identify the best way to use a taxpayers limited funds
  • Differentiate IRS collections-related forms 433
  • Describe the current version of the offer in compromise process
  • Recognize which expenses are covered in the "Housing and Utility Standards"
  • Describe which expenses the Transportation Standards cover

Level
Basic

Instructional Method
Self-Study

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 (or equivalent knowledge)

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $59.00

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