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When You Owe the IRS: The Process

Exam Questions: 20
Course Level: Basic
Pages: 98 | Content: 82, Supplemental: 16
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 8065B

This course provides the tools needed to successfully deal with the IRS when addressing and settling a tax debt. It presents information on the most common way taxpayers attempt to reduce their tax debts - the Offer in Compromise (OIC). It also reviews the bankruptcy code and provides details on penalties and interest that can accrue. PLEASE NOTE: Course material is similar to #7980: Stand Up to the IRS, therefore, we recommend that you should not take both courses in the same CPE reporting period. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00581-24-S

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Course Information

Table of Contents
  • When You Owe the IRS: Keeping the Tax Collector at Bay
  • Penalties and Interest
Objectives
  • To recall the characteristics of the various installment agreements available to taxpayers
  • To identify under what circumstances the IRS can abate penalties and interest

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.