Description:

This book is for preparing 2023 taxes. The IRS has streamlined options available to taxpayers struggling to pay their tax debt. Unfortunately, many taxpayers are too intimidated by the IRS to approach the agency directly for help. That gives tax preparers the opportunity to provide a valuable service to their clients and help them resolve their tax debt by setting up installment payments or resolving disputes over amounts owed to the IRS. This course will help you better understand how the IRS resolves issues with tax debts by explaining the IRS collection process, the rights of taxpayers and the options available under the IRS Taxpayer Relief Initiative so you can better serve your clients.

• Identifying when to use Form 2848 Power of Attorney and Declaration of Representative or Form 8821 Tax Information Authorization, to gain authorization and information
• The IRS collection process and the procedures used by the agency to collect delinquent taxes
• Various alternatives a taxpayer can use to extend the time to pay delinquent taxes
• Identifying when a taxpayer qualifies for a streamlined installment agreement
• Calculating an offer in compromise amount for an IRS tax liability

Product Details:

Item Number: 23354

Level: Intermediate

Authors: NATP Staff

Published: 2023

Format: Print - 124 pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course.