What to Do If Your Client Can't Pay the IRS (Currently Unavailable)

Author: Dominique Molina

Did April 15th leave your clients owing the IRS Money? The IRS is not a pleasant creditor and most taxpayers tend to ignore their problems leaving them exposed to liens, levies, and seizures.

Of course all of this means emergencies that you are left to fix, often at night and on weekends when you receive that call of panic!

During this fast paced and entertaining class, we'll explore proactive ways you can work with your clients to relieve their anxiety and provide clear
manageable options to alleviate their stress (and yours!).

Publication Date: April 2014

Topics Covered

• The Collection Process
• The 3 dreaded letters from the IRS
• Phone Calls
• In-person visits from agents
• Liens, Levies and Seizures
• Early Options: Accepted forms of payment, Installment Agreements, and Case Assignments to Revenue Officers
• Appropriate Forms: 433-A and 433-B
• All about Installment Agreements
• What will be approved?
• Allowable expenditures
• Form 911
• Your rescue in cases of hardship
• Offers in Compromise
• Do's and Don'ts
• Calculating Net Cash Flow
• Current Practices
• Circumstances where it will work to discharge IRS debts

Learning Objectives

• Identify ways to assist clients if they are unable to pay the IRS.
• Recognize the IRS practices and procedures in collecting your client's debt.

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None