Currently Not Collectible (Audio)

  • Credits: 1
  • Format: Self Study Audio
  • Field of Study: Taxes
  • Author/ Speaker: Charles Montecino

Course ID: Advanced Preparation: Experience Level:
EWTFM-U-01635-20-O | 6233-CE-0360 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© May 2020 Basic Understanding of Taxes Self-Study Video | Live Webinar

COURSE DESCRIPTION

There are times when a taxpayer agrees they owe the IRS, but they simply cannot pay the balance due to their current financial situation. If the IRS agrees the taxpayer cannot pay their back taxes and their reasonable living expenses, they may place the account in Currently Not Collectible status. In this course, we’re going to learn what currently not collectible (CNC) means, who is eligible, and what the process is to get this status.

Topics include:

  • Who is Eligible
  • What is the Process
  • Documents to Submit
  • Completed Sample Forms
  • What Happens Next

Learning Objectives:

After reading the course material, you will be able to:

  • Determine Eligibility
  • Identify forms required for submission
  • Familiarize yourself with the different forms used in filing
  • Provide sound advice to your clients and set expectations

Who Should Attend:

  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and approved with all state boards of accountancy and the following sponsorships:

NASBA
IRS
CTEC