With more than $14 million taxpayer accounts in the collection division inventory, IRS collection continues to be a priority for the IRS, and a business opportunity for tax practitioners. The key to helping clients and creating a revenue stream from tax resolution is to understand the collection process and the options available to resolve a back tax debt. This two-hour program with Tax Attorney Eric Green will review the IRS collection process, the IRS use of tax liens and tax levies to collect tax debts, and the various resolution alternatives. This program will cover:
- The collection process – what the various notices are and how to identify where in the collection process your client is;
- Tax levies – the mechanics of both a regular levy and continuing levy and how to avoid new ones and have existing ones released;
- Tax Liens – what client’s can do to have property discharged from the lien, have the lien subordinated, and under what circumstances will the IRS withdraw its lien;
- Resolving the tax debt – a review of the various options including installment agreements, uncollectible status, offers-in-compromise and bankruptcy
