CPAacademy.org | IRS OFFERS IN COMPROMISE: A CASE STUDY

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IRS Offers in Compromise: A Case Study - Condensed Version

Taxes

IRS OFFERS IN COMPROMISE: A CASE STUDY - CONDENSED VERSION

Available Date(s)

Thursday, May 02, 2024: 10:30AM EDT

Choose Your Time Zone:

Cost Free

CPE Credits 1.5 hours

Subject Area 1.5 - Taxes (Federal Tax)

CE Credits 1.0 hour

Course Id# - HURS9-T-01056-21-O

Course Level Basic

Instructional Method Group Internet Based

Prerequisites None

Advanced Preparation None

Who Should Attend CPA - 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.

E. Martin Davidoff

Prager Metis CPAs, LLC
Partner-In-Charge, National Tax Controversy
emdavidoff@pragermetis.com
(732) 274-1600

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.

Additional Materials

Redacted Document

Agenda/Supporting Docs

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Frequently Asked Questions

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Handout Materials

Presentation Slides

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CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

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About Our Presenter

Prager Metis is a top international advisory and accounting firm with over 100 partners and principals, more than 600 team members, and twenty-three offices worldwide including New York, New Jersey, California, D.C. Metro, Connecticut, Florida, Massachusetts, Nevada, North Carolina, London, UK, Chennai, India and the Metaverse. Clients come to Prager Metis for 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.