Your client receives a bill from the IRS after failing to pay his taxes in full on time. IRS penalties and interests increase the bill every day. Taxpayers are liable for the additional penalties and interests on the entire outstanding amount even if they have qualified for a tax debt payment plan and have started to make payments. These penalties can add as much as an additional 25% to a taxpayer’s IRS bill.
While some of the charges are added automatically by IRS computers, others are imposed by IRS personnel when they have determined the client violated a tax code provision. The IRS asserts millions of dollars of penalties against taxpayers daily and it assumes taxpayers have accepted them unless they respond correctly.
Not all is lost, though. Using some effective abatement techniques, you can help your clients easily recover the substantial money they have lost due to penalties and the interest charges on those penalties. Reasonable cause is the key to success in cancelling penalties and interest charges from the IRS. However, it is important for you to know which of the penalties and charges may be waived, and how you can get them waived.
Participants will understand:
- The rules on waiving penalties and interest
- Fraud penalties
- Accuracy related penalties
- Failure to file penalties
- Failure to pay penalties
- Understatement of valuations
- And more!
- Avoiding the understatement of tax penalty
- The forms and procedures for requesting relief
- Requirements and procedures for First Time Abatement
- The factors for Reasonable Cause Abatement
- The procedure for requesting a refund of paid penalties
- How an individual taxpayer qualifies for Reasonable Cause abatement
- Administrative options
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 120 Minutes
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- CPA
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Other Tax Preparers
- Finance professionals
- Financial planners
Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Speaker Profile:
Daniel J. Pilla is a tax litigation consultant, premier proponent and advocate of taxpayer rights. For over three decades, Dan has been tremendously successful in his negotiations with the IRS. Regarded as one of the country’s premiere experts in IRS procedures, Dan provides people across the country with sound solutions to their tax-related problems. He has helped countless thousands of citizens solve personal and business tax problems they thought might never be solved. Furthermore, Dan’s proven techniques can effectively prevent IRS problems before they begin.
Dan is the author of over fourteen books, dozens of research reports and hundreds of articles. Dan’s work is regularly featured on radio and television as well as in major newspapers, leading magazines and trade publications nation-wide. His books have been recommended by prominent magazines and financial publications such as the Wall Street Journal, Money, Family Circle, Investor’s Business Daily. The Wall Street Journal ranked Dan's book, “The IRS Problem Solver”, as the number one tax book in America. Dan has written or contributed to major articles for Reader’s Digest, National Review, Reason, USA Today Magazine and others.
We are approved to provide CPE/CE credits to Tax Professionals
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