Offer-in-Compromise Pre-Submission Tips and Tricks (TaxMama Tax Problem Resolution Series)
What You and Your Client Do Before Submitting that Offer in Compromise Can Make All the Difference
An Offer-in-Compromise (OIC) allows taxpayers to reach an agreement with the IRS to pay less than the total owed. Learn about the three different types of OICs that are available to your client – and how to use them to your advantage. And how to legally reduce the clients’ cash flow and assets to generate the lowest offer - legally.
You don’t need to be an expert at collections representation to handle these issues after you’re done with this series of courses. And you won’t need to refer your clients to other tax experts. This course is for tax practitioners who want to protect their clients from IRS' predatory collections action, develop the skills to prevent and/or resolve IRS collections actions, and want to grow their business into this rapidly expanding market.
You can get started today and you'll have 365 days access to all materials so that you can work through the course at your own pace.
If you have questions about whether or not this course is the right fit for your needs, please feel free to contact our customer support team via email or call us (or text message us) directly (310) 422 - 1283.
Differentiate which type of Offer In Compromise (OIC) is appropriate
Recognize how to prepare the OIC and present the offer
Identify the rare taxpayer that might qualify for Effective Tax Administration (ETA)
When your client's expenses are well over the National Standards – what are the options?
Identify what to do when sending documents to the IRS
Understand when a taxpayer's file be turned over to Revenue Officers (ROs) in the field
Understand why the IRS would even consider an OIC when they have the power to collect the money, attach assets, levy wages, and bank accounts
Identify which set of expenses the IRS must use when preparing the monthly income and expense statement on any version of Form 433
Learn acceptable negotiation strategies
Understand the taxpayer’s probationary conditions once an offer is accepted
Understanding the “Offers” - Doubt as to Liability
Understanding the “Offers” - Effective Tax Administration
Understanding the “Offers” - Doubt as to Collectability
Influence/optimize the outcome
Strategies for Offers
Presenting the Offer
Setting Expectations
Plan for Appeals
“The information was very well presented.”
“The information was very well presented.”
→Read Less“Very informative which helps me to stay the heck away from OICs! Why would you want to tangle with the IRS on OIC and be unappreciated by the client after they give you GRIEF about the fees charged. Keep life simple... life is short!”
“Very informative which helps me to stay the heck away from OICs! Why would you want to tangle with the IRS on OIC and be unappreciated by the client after they give you GRIEF about the fees charged. Keep life simple... life is short!”
→Read LessEva Rosenberg, EA, MBA
TaxMama®
Before You Start, PLEASE READ THIS!
Getting Started Quiz
Glossary
Section 1 - Slides (PDF)
Section 1 - Video Training
Review Questions - Section 1
Section 2 - Video Training
Section 2 - Slides (PDF)
Review Questions - Section 2
Exam Questions
Live Q & A Recording (VIP Guest Carlos Samaniego, EA)
IMPORTANT --> Finalizing Your CE / CPE Credits, Hours Reporting Timeline, Etc.
5 Minute Feedback
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