Don’t miss E. Martin Davidoff, Partner-in-Charge, National Tax Controversy, as he presents at the CPA Academy’s web course “IRS OFFERS IN COMPROMISE: A CASE STUDY – CONDENSED VERSION” on November 16, 2021. This condensed workshop takes participants on a hands-on journey through the financial disclosure aspect of the IRS Offer in Compromise process, including how to effectively complete the appropriate financial disclosure package for individuals.
Course Description:
This condensed workshop takes participants on a hands-on journey through the financial disclosure aspect of the IRS Offer in Compromise (“OIC”) process, including how to effectively complete the appropriate financial disclosure package for individuals (Form 433-A(OIC)). The program will provide you with skills that will enable you to:
- Compute Reasonable Collection Potential (RCP) for OICs in light of the rules established in May 2012 and updated forms of April 2021
- Determine acceptable Installment Agreement levels
- Determine whether a taxpayer qualifies for Currently Not Collectible Status
- Advise clients regarding pre-submission planning for OICs
Learning Objectives:
- Recognize how to present financial backup for submissions for Offers in Compromise (“OIC”)
- Determine the basics in arriving at Reasonable Collection Potential (“RCP”) which is the standard used by the IRS to evaluate OIC submissions
- Summarize information not generally known in determining RCP
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