Navigating IRS Authorizations: Understanding Power of Attorney, Form 2848, and Form 8821 - 2 hrs

Overview

This two-hour course provides a comprehensive overview of the IRS collection process, guiding tax professionals through each stage, from the initial notice to enforced collection actions. Participants will gain insights into taxpayer expectations during the collection process, as well as strategies for resolving tax debts. The course highlights when to use Form 433-A or 433-B, the documentation needed, and the criteria for submitting an Offer in Compromise (OIC) to settle tax debts for less than the full amount owed. Attendees will also learn about the various payment options available and practical approaches to advising clients.

*Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Highlights

• Overview of the IRS collection process and enforcement actions
• Initial notices, taxpayer rights, and IRS timelines
• When to use Forms 433-A or 433-B and required documentation
• Offer in Compromise (OIC): criteria, process, and practical considerations
• Payment options: installment agreements, partial payment plans, and OIC
• Advising clients on IRS collections and avoiding penalties
• Compliance strategies for minimizing tax liabilities
• Real-world scenarios and examples for tax debt resolution

Prerequisites

None

Designed For

CPAs, EAs, and tax professionals advising clients on IRS collections and resolving tax liabilities

Objectives

• Identify the stages of the IRS collection process, from initial notice to enforced collection actions.
• Recognize when Forms 433-A or 433-B are required and understand the information necessary to complete them.
• Evaluate the criteria for submitting an Offer in Compromise (OIC) and outline the submission process.
• Explain the different payment options available to taxpayers facing IRS collections.
• Determine how to effectively advise clients on navigating the IRS collection process.
• Minimize potential penalties and ensure compliance during the resolution process.
• Understand the implications of different settlement strategies, including OIC and installment agreements.
• Apply practical insights to real-world scenarios for resolving tax liabilities.

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by ACPEN. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.