Offer in Compromise Settle Tax Debts for Less Than What Is Owed

Offer in Compromise Settle Tax Debts for Less Than What Is Owed
$19.00 each

  • Credits:  2
  • Format: Interactive Self Study Video-
  • Field of Study: Federal Tax Update
  • Author/Speaker: Charles Montecino
*Content Preview
Available Formats:
Advanced Preparation:None
Experience Level:Overview
Program Prerequisites:General Understanding of Taxation
Course ID:EWTFM-U-01882-22-O | 6233-CE-0597 | CM-200.23-SV
Published Date:Registered for 2023

The Offer in Compromise program is available to taxpayers that have a tax debt so large that they could never pay it. In many cases, they go off the grid. They take jobs that pay in cash, work as subcontractors, and dont have a bank account. By not working on the books the IRS cant garnish their paycheck or levy their self-employed income. If they have a regular job they leave and find another one as soon as the IRS garnishes their paycheck. By not having a bank account the IRS cant levy their bank accounts. In many instances, they also have no assets in their name that could have a Federal Tax Lien filed against it. Through this program, they can come clean and settle their tax debts, reestablish their credit, and get the trauma out of their life.

Topics include:
  • Effective Tax Administration
  • Doubt as to Liability
  • Doubt as to Collectability

Learning Objectives:

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

  • Identify the three types of offers
  • Determine which offer best serves your client
  • Familiarize yourself with the different forms used in filing

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships: