Ethics of Taxation & Penalty Appeals & Offers-In-Compromise

CREDITS: 8

CATEGORY: Ethics (4), Tax (8)

SPEAKER: Robert E. McKenzie, Esq.

DATE: Tuesday July 14, 2020

TIME: 8:50 A.M. - 5:10 P.M. Eastern

LOCATION: Long Island Marriott, Uniondale L.I.

We all try to the right thing but many of us have busy practices and those pressures may cause us to inadvertently face an ethical problem. Circular 230 has recently been revised and it has imposed new duties and responsibilities upon practitioners who represent taxpayers before the IRS. Anyone who practices before the IRS must comply with these requirements. This morning class is designed to help you avoid violating your ethical duties. Earn all your 4 CPE/CLE credits in Ethics from this morning seminar! This course qualifies for NYS, Ohio, IRS Enrolled Agents, and all states that do not have a specific ethics requirements. (States with specific ethics requirements such as NJ, FL, DE are not eligible for this course. Click here for a full listing. We now have an approved NJ ethics course, click here to view available dates.).

The afternoon session contains two timely topics. Session one is Penalty Appeals - Reducing IRS Penalties. Each day the Internal Revenue Service asserts millions of dollars in tax penalties against taxpayers. Many of those penalties are subsequently abated because of quality representation by experienced practitioners. This class will cover the basics of supporting reduction of IRS tax penalties. Session two is Successfully Negotiating Offers-In-Compromise. The Internal Revenue Service has revised its system of offers in compromise.  Those changes have increased the probability of a successful offer in compromise. Practitioners must comply complex rules for settlement of outstanding tax obligations but with an understanding of the new rules you can substantially reduce many tax obligations.   This class will cover advanced techniques for offers in compromise

Topics & Learning Objectives Include:

Morning Session - Ethics per IRS Circular 230

  • Standards and penalties for tax preparers
  • Conflicts of interest
  • Due diligence when preparing returns
  • Understand your duties
  • The best practices to avoid problems
  • Advising taxpayers of mistakes on their returns

Afternoon Session 1 - Penalty Appeals

  • Reasonable Cause
  • Ordinary Business Care and Prudence
  • Internal Revenue Service Preferred Reasons for Abatement of Penalties
  • A practical approach to seeking abatement of penalties

Afternoon Session 2 - Offers-In-Compromise

  • Techniques for Valuing Assets
  • Maximizing IRS Allowable Expense Standards
  • Effective Tax Administration Offers
  • Reducing Hassles From Campus OIC Functionaries
  • Alternatives to Avoid the 20% Down payment

Bob McKenzie is one of the most knowledgeable lecturers on IRS matters in the nation. He is a former IRS officer and knows all the inner workings of the IRS.

  • Program Level: Overview
  • Prerequisites: Basic Knowledge of Federal Taxation
  • Advance Preparation: None Required
  • $295.00 $250.00
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