IRS Practice Series: 10 Steps to Resolving Collection Issues
Authored by Eva Rosenberg
About this Course
Topics covered include: Collection Statute of Limitations; Audit reconsideration; Penalty abatement; Installment agreement (IA); Currently non-collectible status (CNC); Qualifying for Offer-in-Compromise (OIC); Types of OICs available; Payment options — and strategies; Bankruptcy of tax debt.
Upon completing this course, you should be able to: Identify the methods for resolving collection issues; Recognize the steps that must happen to start the clock on the Statute of Limitations; Identify what stops the Statute of Limitations; Identify the proper fee for an Installment Agreement; Recognize the IRS's Streamlined Installment Agreement process that works for balances; Differentiate the options to offer a client; Identify the best way to reduce a client's tax debt; Recognize what information is not found on the account transcript gathered from the IRS; Evaluate a legitimate reason for requesting a penalty abatement; Identify accepted interest abatement requests; Recognize when the IRS automatically accepts request for an Installment Agreement; Identify the proper forms to use when filing an Offer in Compromise: Doubt as to Collectibility; Describe granted Currently Non-Collectible status; Describe granted Currently Non-Collectible status.
IRS Practice Series: Overview of Collection Issues (or equivalent knowledge)