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To Access This Course:

An Offer-in-Compromise (OIC) allows taxpayers to reach an agreement with the IRS to pay less than the total owed. You'll receive a detailed 6-step guide to requesting an OIC to achieve a reasonable settlement for your client.

This course will cover the following topics:

  • Understanding the Offers
  • Doubt as to Liability
  • Effective Tax Administration
  • Doubt as to Collectability
  • Influence/optimize the outcome
  • Strategies for Offers
  • Presenting the Offer
  • Setting Expectations
  • Plan for Appeals

Learning Objectives

  • Discover and understanding the Offers.
  • Explore effective Tax Administration.
  • Identify ow to influence/optimize the outcome.
  • Recognize the strategies for offers.
  • Identify how setting the expectations.
Last updated/reviewed: June 13, 2021

Included In Certifications

This course is included in the following Certification Programs:

10 CoursesTax Resolution Specialist Certificate

  1. IRS Representation Series - Foolproof Tips to Release IRS Levies on Paychecks or Bank Accounts
  2. IRS Representation Series - Getting Organized to Resolve Collection Issues
  3. IRS Representation Series - Doing Offer-in-Compromise: How to Complete the Form 656 Application
  4. IRS Representation Series - Tips and Tricks for the 433s Needed to Secure an Offer in Compromise
  5. IRS Representation Series - Winning the 1040 Audit
  6. IRS Representation Series - Steps to Take After SUCCESSFUL Collections or Audits
  7. IRS Representation Series - When Collections and Audits Fail
  8. IRS Representation Series - Reducing IRS Assessments for Interest & Penalties
  9. IRS Representation Series - Conflicts of Interest
  10. IRS Representation Series - Circular 230 Ethics and Updates

Prerequisites

Course Complexity: Advanced
No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  1:58Introduction to Doing Offer-in-Compromise: How to Complete the Form 656 Application
  20:06OIC Overview
  13:36Understanding the Offers
  13:49Doubt as to Liability and Form 656 L
  13:34Application Checklist and Effective Tax Administration
  11:18Doubt as to Collectability
  14:02Strategies for Offer
  12:51Making The OIC Installment Payments and Presenting the Offer
CASE STUDY
  12:32Case Study Part 1
  12:10Case Study Part 2
  15:20Case Study Part 3
CONCLUSION
  3:04Setting Client Expectations and Preparing for Appeals
  5:14Summary and Closing Comments
CONTINUOUS PLAY
  2:29:33Doing Offer-in-Compromise: How to Complete the Form 656 Application
SUPPORTING MATERIAL
  PDFSlides: IRS Representation Series - Doing Offer-in-Compromise: How to Complete the Form 656 Application
  PDFIRS Representation Series - Doing Offer-in-Compromise: How to Complete the Form 656 Application Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM