Tax Debt Relief and the IRS

Exam Questions: 40
Course Level: Basic
Pages: 238 | Content: 190, Supplemental: 48
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 7175C

This course provides an overview of the major tools that can be used to settle tax debts with the Internal Revenue Service, including Offers in Compromise and Installment Agreements. It also provides an overview of how the IRS enforces payment of federal taxes, including seizing the property of delinquent taxpayers. PLEASE NOTE: Course material is similar to #6810: Settling Tax Debt with the IRS and #6800: An Overview of Offers in Compromise; therefore, we recommend that you should not take #6810 and/or #6800 in the same CPE reporting period. All course material provided. No prerequisites. Course level: Basic/Update.

EA Program Approval Number: ZX34G-T-00306-18-S

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Course Information

Table of Contents
  • Introduction to Settling with the IRS
  • The IRS Collection Process
  • Installment Agreements
  • Grounds for Seeking an Offer in Compromise
  • Applying for an Offer in Compromise
  • Rejecting Offers in Compromise
  • Financial Analysis of Offers in Compromise
  • Relief from Liability for Joint Partners
  • Resolving Delinquent Taxes Via Bankruptcy
  • To recognize the impact of the ''fresh start'' initiative
  • To recognize the various methods the IRS may use to collect federal tax debts
  • To identify qualifications for filing an Installment Agreement with the IRS
  • To identify different methods the IRS can use to settle claims
  • To recognize steps in the process of applying for an Offer in Compromise
  • To identify how long a taxpayer has to appeal an Offer in Compromise
  • To recognize some of the factors the IRS considers in determining the amount the taxpayer should be able to pay under a Doubt as to Collectability Offer in Compromise
  • To identify differences between the four types of relief from joint and several liability for spouses who filed joint returns
  • To recognize differences between the most common forms of bankruptcy protection

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.