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Are you familiar with the guidelines the IRS uses to compute penalties and interest? Course participants gain valuable computation tools, as well as strategies for penalty and interest reduction. This course will cover the following topics:

  • Introduction to penalties and their purpose.
  • Dealing with Proposed Penalties.
  • Dealing with Assessed Penalties.
  • Penalties in detail.
  • Recomputing and Reducing penalties.

Learning Objectives

  • Identify dealing with proposed penalties.
  • Recognize dealing with assessed penalties.
  • Discover penalties in detail.
  • Explore recomputing and reducing penalties.
Last updated/reviewed: June 09, 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: Foundational

Basic knowledge in interests and penalties.

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
  3:07Introduction to Reducing IRS Assessments for Interest & Penalties
  11:36Nature of IRS Penalties and Handling Insignificant Penalties
  10:39Dealing with Proposed Penalties
  13:00Dealing with Assessed Penalties
  15:48Dealing with Assessed Penalties cont'd
  14:40Taxpayer Should Know Tax Laws
  12:17Penalties in Detail
  13:22Recomputing and Reducing Penalties
  10:26Recomputing and Reducing Penalties Cont'd
  12:25Assessed Penalties and Interest
  0:52Summary
CONTINUOUS PLAY
  2:08:33IRS Representation Series - Reducing IRS Assessments for Interest & Penalties
SUPPORTING MATERIAL
  PDFSlides: IRS Representation Series - Reducing IRS Assessments for Interest & Penalties
  PDFIRS Representation Series - Reducing IRS Assessments for Interest & Penalties Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM