Navigating IRS Collections: A Tax Professional's Guide

EVENT OBJECTIVE

By the end of this course, participants will be able to:

Interpret IRS Notices and Correspondence: Understand the significance of various IRS notices and correspondence, enabling the identification of critical issues and deadlines that impact the collection process.

Resolve Back Taxes: Develop strategies for resolving clients' back taxes efficiently, including analyzing the client's financial situation to propose viable solutions.

Negotiate Payment Plans and Settlements: Gain proficiency in negotiating with the IRS to establish payment plans or settlements that are in the best interest of the client, considering their financial capacity and compliance requirements.

Explore Relief and Compromise Options: Evaluate the eligibility criteria for different relief options, such as Offer in Compromise, and guide clients through the application process to reduce their tax liabilities.

Maintain Ethical Standards: Uphold high ethical standards in tax practice, including confidentiality, accuracy, and integrity, while navigating the IRS collection process.

Communicate Effectively with Clients: Enhance communication skills to effectively convey complex tax issues, proposed solutions, and the implications of different choices to clients, ensuring they are well-informed throughout the process.

Stay Updated on IRS Policies and Procedures: Keep abreast of the latest IRS policies, procedures, and changes in tax law to provide current and accurate advice to clients, ensuring compliance and minimizing liabilities.

Implement Best Practices in Client Representation: Apply best practices in representing clients before the IRS, including preparing and submitting necessary documentation, advocating for the client's interests, and managing the collection process efficiently.

Navigate Taxpayer Rights: Understand and advocate for clients' rights under the Taxpayer Bill of Rights, ensuring fair treatment and access to information throughout the collection process.

Prepare for Appeals and Litigation: Prepare for potential appeals or litigation related to IRS collection actions, including understanding the appeals process and criteria for judicial review.