Mastering IRS Offers in Compromise: Eligibility, Preparation and Proven Strategies for Qualification & Successful Negotiation

Mastering IRS Offers in Compromise: Eligibility, Preparation and Proven Strategies for Qualification & Successful Negotiation

Overview:

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.

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.

Areas Covered in this Training:

· 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

Why Attend this Training:

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.

Suggested Attendees:

· CPA, EA, attorney, and staff
· Tax department
· CFOs and controllers
· Accounts payable and accounting managers
· Public accountants
· Owners
· Credits and Other information:

Jim Buttonow, CPA

Jim Buttonow, CPA

Jim Buttonow, CPA, CITP, has been a leader in helping taxpayers and tax professionals resolve tax problems with the IRS.
 
For 19 years, Jim worked at the IRS in various compliance enforcement positions. Since 2006, Jim has been in private practice and tax and accounting software development. Jim consulting practice focuses on the areas of tax controversy and tax administration. Jim led product development and marketing for a successful software company that developed tax problem software for tax professionals. This software is currently being used by thousands of tax professionals and businesses in the United States.
 
Jim has been an IRS partner in improving IRS operations and post-filing service to taxpayers. Jim served as chairperson of the IRS Electronic Tax Administration Advisory Committee (ETAAC) in 2015 and 2016 during which ETAAC played a central role in promoting the IRS digital strategy to develop transformative technology solutions to systemic challenges in tax administration. Jim also served as the North Carolina representative on the IRS’ Taxpayer Advocacy Panel (TAP) from 2020-2022.
 
Jim regularly speaks on areas of tax administration and problem solving to national associations and has testified before Congress in areas of tax administration. He has also published many articles in industry publications. In his articles, Jim focuses on delivering practical insights, advocating for IRS transparency and efficiency, and proposing innovative large-scale solutions for taxpayers and tax professionals.
 
Jim currently authors CCH’s Tax Problems and Solutions Handbook, a publication aimed at helping tax pros work more effectively in post-filing matters and resolving their clients’ most common tax problems



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Standeagle is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org.

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Mastering IRS Offers in Compromise: Eligibility, Preparation and Proven Strategies for Qualification & Successful Negotiation
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