Description

This course is designed to equip tax professionals with a deep understanding of the IRS offer in compromise (OIC) program. Participants will learn the strategic, procedural, and practical elements of preparing and negotiating successful OICs for taxpayers facing significant tax liabilities. The course will walk through the eligibility criteria, financial analysis standards, supporting documentation requirements, and techniques to enhance the likelihood of IRS acceptance. Common pitfalls, recent trends, and real-world case studies will also be covered.

Instructor: Gregory Holzel

Target Audience

Accounting and finance professionals looking for the latest information on filing and negotiating offers in compromise

Course Objectives

Prepare accurate and comprehensive Forms 656 and 433-A(OIC)/433-B(OIC)

Navigate the IRS OIC process, including timelines, required documentation, and appeals

Identify the various types of OICs (doubt as to collectability, doubt as to liability, effective tax administration)

Assess client eligibility using the IRS Reasonable Collection Potential (RCP) framework

Evaluate and document special circumstances for effective tax administration

Apply negotiation strategies to increase the chances of OIC approval

Avoid common errors that lead to automatic rejection or return of the offer

Subjects

Introduction to the OIC program

Types of OICs

Eligibility criteria

Financial analysis

Offer amount calculation

Preparing Forms 656 and 433-A(OIC)/433-B(OIC)

Supporting documentation and strategy

OIC submission and IRS review process

Appeals and negotiation techniques

Best practices and common pitfalls

Real-world scenarios and case studies