Understand what payment options are available to your clients and how the Internal Revenue Service will evaluate these requests.
Many practitioners have clients who are unable to pay current or prior year tax liabilities when those liabilities are due. These practitioners may not be familiar with the options that are available to their clients to pay some or all of these liabilities over time. This webinar will provide practitioners with several options available for negotiating payment arrangements with the Internal Revenue Service on behalf of their clients. This webinar will explain the forms and financial information that is required to be filed with the Internal Revenue Service under each payment option. The webinar will also discuss how the Internal Revenue Service determines what is an acceptable payment offer.
Learning Objectives
- You will be able to define the different options available for negotiating with the Internal Revenue Service.
- You will be able to describe how the Internal Revenue Service determines an acceptable amount for an offer in compromise.
- You will be able to explain the national and local standards used by the Internal Revenue Service as defined in the Internal Revenue Manual.
- You will be able to review the appropriate payment option to negotiate with the Internal Revenue Service and the required forms and financial statements that need to be submitted with the payment option requested.
Agenda
Short-Term Payment Plans
- What Are Short-Term Payment Plans?
Installment Agreements
- Types of Installment Agreements
- Modification or Termination of Installment Agreements
- Effects on Collection Activities
Offer-In-Compromise Agreements
- Basics
- Collection Potential
- National and Local Standards for Expenses
Bankruptcy
- Basics Related to Tax Liabilities
Speakers
Jolaine L. Hill, CPA,
Katz, Sapper & Miller- Manager with Rosen, Sapperstein, and Friedlander
- Current and past firms have had construction contractors and real estate development companies as a part of their practice
- Conducts seminars and workshops on the construction industry
- Member of the American Institute of Certified Public Accountants, Indiana CPA Society, and Maryland CPA Society
- Graduate, with honors and distinction, Indiana University
Who Should Attend
This live webinar is designed for accountants, CPAs, tax managers, tax preparers, CFOs, controllers, enrolled agents, business managers and owners, presidents, vice presidents, CEOs, executives, and bookkeepers.
