Offers in Compromise
Credits: 2 | Taxes | Self Study Video more

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$19.00 each

  • Credits: 2
  • Format: Self-Study Video 
  • Field of Study: Taxes
  • Author/ Speaker: Charles Monticino

Course ID:Advanced Preparation:Experience Level:
EWTFM-U-01633-20-S / 6233-CE-0359Basic Understanding of TaxationIntermediate
Published Date:Program Prerequisites:Other Course Formats:
© May 2020NoneeBook | Self-Study | Live Webinar

COURSE DESCRIPTION

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 don’t have
a bank account. By not working “on the books” the IRS can’t garnish their pay check 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 pay check.
By not having a bank account the IRS can’t 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 Collectibility

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)
  • Tax Return Preparers (TRPs)

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

NASBA
IRS
CTEC