IRS Collection Procedures

Date: September 06, 2023
Time: 12:00 PM ET
Duration: 120 Minutes
Speaker: Nicholas Preusch
CPE Credits : 2 (Tax)

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Description

Join us for an insightful Continuing Professional Education (CPE) webinar focused on demystifying the intricate world of IRS Collection Procedures. In this comprehensive session, tax professionals, CPAs, and financial experts will gain a deep understanding of the latest guidelines and strategies for effectively managing clients’ tax liabilities while navigating the ever-evolving landscape of IRS collections.

 

Webinar Highlights:

  • Overview of IRS Collection Process: Understand the step-by-step journey of IRS collection procedures, from initial notices to enforcement actions. Learn about the different phases and important deadlines within the collection process.
  • Latest Regulations and Updates: Stay up-to-date with the most recent changes in IRS collection regulations, policies, and guidelines. Get insights into potential impacts on your clients and strategies to adapt.
  • Negotiating with the IRS: Explore proven negotiation techniques for working collaboratively with the IRS to establish installment agreements, offers in compromise, and other favourable resolutions. Gain practical tips for effective communication and documentation.
  • Offer in Compromise (OIC) Essentials: Delve into the nuances of the Offer in Compromise program, including eligibility requirements, calculation methodologies, and submission procedures. Learn how to evaluate clients’ qualifications and maximize the chances of a successful OIC application.
  • Installment Agreements and Payment Plans: Discover various options for setting up installment agreements and payment plans tailored to clients’ financial situations. Understand the IRS’s criteria for approval and best practices to ensure compliance.
  • Appeals and Litigation: Learn how to navigate the appeals process if clients disagree with IRS collection decisions. Gain insights into potential litigation strategies and considerations.
  • Tax Liens and Levies: Understand the implications of tax liens and levies on clients’ assets and financial well-being. Explore strategies for preventing or removing tax liens and levies.
  • Ethical Considerations in IRS Collections: Discuss the ethical responsibilities of tax professionals when representing clients during IRS collection proceedings. Examine potential conflicts of interest and ethical dilemmas, and learn how to maintain professional integrity.

 

Who Will Benefit:

  • CPAs
  • Enrolled agents
  • Attorneys
  • Finance professionals
  • Financial planners
  • Tax Professionals

 

Session Prerequisites and Preparation: None

Recommended CPE credit – 2.0

Recommended field of study – Tax

Session learning level: Basic to intermediate

Delivery method: Group Internet Based

 

This program has been approved for 2 CPE credits under NASBA.

Speaker

Nicholas Preusch

Nicholas Preusch, CPA, JD, LLM, is a tax manager with PBMares, LLP. Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the VSCPA’s Tax Advisory Committee and the AICPA’s Tax Practice and Responsibilities Committee. Nicholas is an adjunct professor with the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).

Certificate

This program has been approved for 2 CPE credits under NASBA. 

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