Understand How To Get IRS Tax Amnesty - Eliminate IRS Tax Debt

There’s never been a better time to resolve a delinquent tax problem with the IRS. The department has a far extra open thoughts when it comes to negotiating delinquent tax debts. The “Fresh Start Initiative,” changes to the Offer in Compromise Program, the Collection Due Process appeal rights, and instalment agreement options, all make it possible to pay taxes on your terms, not theirs. On top of that when, the IRS even more willing to negotiate when they know a tax liability is dischargeable in bankruptcy.

The Collection Due Process (CDP) appeal is likely the most important right a taxpayers possess. However, in case if you don’t understand the legal principles behind it, then this effective power/right may well be of no use to you. In this virtual summit we will assist you to eliminate wage and bank levies, avoid property seizures and get rid of tax liens.

Session Highlights:

• Understand Collection Due Process (CDP) rights- 6320 and 6330
• Installment Agreements generally (IA)
• The Offer in Compromise (OIC) – IRC 7122 
• How the IRS figures the OIC amount in offers based on doubt as to collectability
• Understand The Partial Pay Installment Agreement (PPIA)
• Currently Not Collectible (CNC)
• Forgiveness of Penalties and Interest
• Little-recognised Facts About Tax Debts 
• How to decide if a tax liability is dischargeable in bankruptcy

Learning Objectives:

• Instalment settlement alternatives, which includes getting a patron declare “currently not collectible”
• When Collection Due Process Appeal rights are available and the way to invoke them
• The alternatives for challenging the assessment of penalties
• Recognize what creates the tax gap problem
• Determine the process of the tax auditor
• Identify what generates a taxpayer’s DIF score
• Select what TIGTA has referred to as an epidemic facing taxpayers
• Choose an IRS policy designed to minimize a potential collection surprise
• Spot the IRS code section that authorizes an administrative appeal of the imposition of a lien
• Determine how long funds remain in an account after the IRS issues a bank levy
• Spot the first step toward achieving uncollectible status
• Recognize the current stated IRS business practice when faced with collection issues
• Select the compromise reached under an OIC based on doubt as to collectability

Who Will Benefit:

• CPA Enrolled Agents (EAs)|
• Tax Professionals Attorneys
• Other
• Tax Preparers
• Finance professionals
• Financial planners
  

Credits and Other information:-

      - Session Duration: 2 Hours

      - Case Studies and Live Q&A session with speaker

      - Power Point presentation for reference

      - Session learning level: Basic

      - Delivery method: Group Internet Based

      - IRS Credits: 2 Tax Hours

      - IRS CE Provider: #PUPOT

      - IRS Course ID: PUPOT-T-00011-25-O

       - Recommended field of study – Taxes

       - Session Prerequisites and preparation: None

       - Location: Virtual/Online

       - Attendance Requirement:  Yes