Offer in Compromise: What Goes in to Preparation of an Offer?
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Speaker : MICHAEL CASH
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When : Thursday, September 19, 2024
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Time : 01 : 00 PM EST
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Michael Cash was an IRS Revenue Officer for 35 years with his final two years before retirement spent as one of 17 Revenue Officer Fraud Technical Advisors nationwide. In the latter job he was responsible for instructing all Revenue Officers in the northern 2/3 of California about what indicators of fraud they should look for and consulting with Revenue Officers who thought they had a fraud case about what information needed to be gathered prior to referring a case to the IRS Criminal Division. After retirement he became an Enrolled Agent representing clients with tax collection problems. He is the secretary of the Big Valley Chapter of the California Society of Enrolled Agents.
TV Informercials make settling with IRS for “pennies on the dollar” sound like the easy way out for anybody with an unpaid tax bill. Actually the forms are complicated and don’t follow general accounting principles, the documentation voluminous and valuation of assets subject to dispute. At times some taxes unpaid taxes could be discharged in bankruptcy and the benefits of avoiding bankruptcy have to be weighed against a larger offer.
Areas Covered
- Forms preparation
- Nuances of preparation of the Collection Information
- Other required documentation
Who Should Attend
Practitioners who represent clients who want to submit offers.
Why Should You Attend
If you are offering representation service to clients who have tax liabilities they are unable to pay and are able to offer IRS more than it can reasonably expect to collect they can propose an Offer in Compromise to IRS. Most people need help in completing their offer package.
Topic Background
What is needed to prepare IRS Offer in Compromise Forms?
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$160.00
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