An offer in compromise (OIC) is an option offered by the IRS that allows a taxpayer to settle their debt for less than what is actually owed. This option is great for a taxpayer because it gives them a fresh start with the IRS, but the ultimate goal of an offer in compromise is to come to a legal agreement for payment that’s in the best interest of both the taxpayer and the IRS.

This course offers a fundamental exploration into the world of IRS Offers in Compromise, aimed at tax practitioners seeking to broaden their service offerings. It delivers practical insights into evaluating if and when an Offer in Compromise represents the optimal route for clients challenged by outstanding IRS debts. Financial professionals will delve into the essential criteria for taxpayer eligibility, discovering a clear path to assist clients in navigating this complex filing option.

Structured in an easy-to-follow format, this class provides the tools to assess a taxpayer’s position accurately, understand the requisite information for an Offer in Compromise, and handle the form preparation with confidence. With an array of sample forms and financial statements at hand, practitioners will leave the course equipped to effectively manage client consultations from start to finish, instilling a deepened confidence in their tax negotiation capabilities.

Learning Objectives:

  • Financial analysis of IRS collection outcomes
  • Steps to take in seeking resolution for your clients
  • Options for resolution: Offer in Compromise, Payment Plan, Currently Not Collectible
  • IRS resolution process and workflow efficiencies
  • Differentiate which type of OIC is appropriate
  • Recognize how to prepare the OIC and present the offer
  • Identify functions of an IRS field team visiting employers who are delinquent on their payroll tax payments
  • Identify the taxpayers' role when it comes to Effective Tax Administration (ETA)
  • Recognize if there is any way to get the IRS to accept the higher numbers, if your client's expenses are well over the National Standards
  • Identify what you should do when sending documents to the IRS
  • Describe the percentage of submitted Offers in Compromise (OICs) does the IRS accept (rounded to the nearest percentage)
  • Recognize what level of tax liability will a taxpayer's file be turned over to Revenue Officers (ROs) in the field

Live Q&A session will be held after the event.

Who Should Attend?

  • CPA, EA, attorney, and staff
  • Tax department
  • CFOs and controllers
  • Accounts payable and accounting managers
  • Public accountants
  • Owners

Credits and Other information:

  • Recommended CPE credit – 2.0 Tax Hours
  • Recommended field of study – Tax
  • Session Prerequisites and preparation: None
  • Session learning level: Basic
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: DFFSC
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
  • PowerPoint presentation for reference

Credits and Other information :

  • IRS CPE Credits: 2.0 TAX
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: DFFSC
  • Attendance Requirement: Yes
  • Case Studies and Live Q&A session with speaker

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Each webinar wraps up with a Q&A session, giving you the opportunity to interact with industry experts and receive answers to all your queries.

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  • IRS
  • HRCI
  • SHRM

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