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IRS Offers in Compromise: A Case Study - Condensed Version
Taxes

IRS OFFERS IN COMPROMISE: A CASE STUDY - CONDENSED VERSION

Cost $22.50
Presentation Length 1.5 hours

Recorded DateMay 2, 2024
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Who Should AttendCPA - small firm
CPA - medium firm
CPA - large firm
Enrolled Agent
Series: Tax Representation
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 current rules using the most recent forms of April 2021

  • Determine acceptable installment agreement levels

  • Determine whether a taxpayer qualifies for a status of currently not collectible

  • 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



The core program with some questions will run 75-minutes.  The speakers will remain until shortly before the 90-minute mark to take additional questions. 

Not logged
PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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E. Martin Davidoff

Prager Metis CPAs, LLC
Partner-In-Charge, National Tax Controversy
[email protected]
(732) 274-1600

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E. Martin Davidoff is a Certified Public Accountant and an Attorney at Law with offices in Cranbury, New Jersey. Mr. Davidoff is licensed to practice both professions in New York and New Jersey and is active in many associations. In November of 2018, he joined with Prager Metis CPAs as the Partner-In-Charge of their National Tax Controversy Department.

Mr. Davidoff served as President (2008-2009) of the American Academy of Attorney-CPAs (“AAA-CPA"). He is also the founder of the Internal Revenue Service Liaison Committee, having served as its chair for over a decade.

As a member of the AICPA's Tax Division, Mr. Davidoff has served on the Tax Legislative Liaison Committee. He completed two years on the Executive Committee of the New Jersey Society of Certified Public Accountants (“NJCPA”). He has been serving since 2018 as the Co-Chair to the Federal Practice Committee of the New Jersey State Bar Association - Taxation Law Section. He has also served as President of the Middlesex/Somerset chapter of the NJCPA and as the chairman of the NJCPA Federal Taxation and Membership Committees.

About Our Presenter

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Prager Metis is a top international advisory and accounting firm with over 100 partners and principals, more than 600 team members, and twenty-six offices worldwide, including New York, New Jersey, California, Florida, Nevada, North Carolina, Virginia, Cayman Islands, London, UK, Chennai, India and the Metaverse. Clients come to Prager Metis for the expert advice that protects and grows the value of their world—whether that world is local or extends across international markets. As one of the nation's fastest growing firms offering a full range of accounting, audit, tax, consulting, and international services, Prager Metis helps make Your World. Worth More