Navigating IRS Collections: Overview of Form 433 and Offer in Compromise
Online
2.00 Credits
Member Price $89.00
Non-Member Price $119.00
Overview
This two-hour course covers the IRS collection process, detailing each step from the initial notice to enforced collection actions and payment options. You'll gain a thorough understanding of how the IRS initiates collections, what taxpayers should expect as the process unfolds, and the various options for settling debts. We will review when Form 433-A or 433-B is required, and discuss the specific criteria for submitting an Offer in Compromise (OIC) to settle tax debt for less than the full amount owed. This session is designed to provide tax professionals with the tools to guide their clients through the IRS collection process, ensuring compliance and presenting the best possible payment solutions. We’ll also review key scenarios where Forms 433 and OIC are necessary, providing practical insight for resolving tax liabilities.
*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to terri.storer@acpen.com
Objectives
At the end of this course, you will be able to:
- Identify the stages of the IRS collection process, from initial notice to enforced collection actions.
- Recognize when Forms 433-A or 433-B are required and the information necessary to complete them.
- Evaluate the criteria for submitting an Offer in Compromise (OIC) and the process involved.
- Explain the different payment options available to taxpayers facing IRS collections.
- Determine how to advise clients on navigating the collection process and minimizing potential penalties.
Highlights
- IRS collection process overview
- Initial notice and subsequent notices
- Enforced collection actions: liens, levies, and wage garnishments
- Payment options and alternatives to enforced actions
- Detailed review of Forms 433-A & 433-B
- Offer in Compromise (OIC) program: qualifications and process
- Advising clients on compliance and payment options
Designed For
CPAs, EAs, tax professionals
Prerequisites
Basic knowledge of IRS procedures and tax collection
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Mary Jane Hourani, MM, EA, NTPI Fellow, Hourani & Associates, Inc.
Mary Jane Hourani, MM, EA, NTPI Fellow, Tax Accountant
Mary Jane has been practicing since 1993, working for a couple larger Tax, Accounting, & Audit Firms before transitioning to her own practice in 2005.
Mary Jane has a Master of Management from Walsh College of Accountancy and Business Administration as well as a Bachelor of Science from Eastern Michigan University in Public Administration with a focus in Organizational Development and Governmental Accounting.
She is credentialed as an Internal Revenue Service Enrolled Agent, allowing her to practice before the IRS. With this credential, she has direct oversite by the IRS Office of Professional Responsibility. She is also a National Association of Enrolled Agents NTPI Fellow.
Mary Jane has been an Instructor of Tax for Michigan State University Tax School since 2014 as well as a speaker for several trade organizations since 2010.
Mary Jane has been a Contributing Editor and/or Contributing Author of the National Tax Workbook for the Land Grand University Tax Education Foundation since 2015. She writes and compiles tax course packs used by Michigan State University Tax School. Mary Jane is an author/speaker for several national trade organizations and national CPE providers. She is a former H&R Block Instructor/Trainer.
Mary Jane is a member of the National Association of Enrolled Agents, Michigan Association of Certified Public Accountants, National Association of Tax Professionals, American Institute of Professional Bookkeepers, and is a QuickBooks ProAdvisor.
Non-Member Price $119.00
Member Price $89.00