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Master Class: IRS Collections
The IRS Collection MASTERCLASS in conjunction with Eric Green’s Best Selling book, The Accountant’s Guide to IRS Collection.
If you have not yet downloaded the book, go here.
Introduction
Welcome to the IRS Collections Masterclass. Here is a quick introduction from Eric.
The IRS Collection Process
In this section, Eric discusses:
– Policy Statement 5-2: Collecting Principles
– How Did the Taxpayer Get Here?
– File the Damn Returns!
– Delinquent Returns
– True Client Story
– The IRS Collection Division
– Collection Appeals
– The Statute of Limitations
– Federal Tax Liens
– Federal Tax Levies
The Collection Client
In this section, Eric discusses:
– Consultations
– Getting Retained
– Getting into Tax Compliance
– Estimated Taxes
– Open Your Freakin’ Mail!
– Talking to the IRS
Federal Tax Liens
In this section, Eric discusses:
– Impact of the Federal Tax Lien
– Withdrawal of Liens at $25,000 or Less
– Liens are Self-Releasing
– Where NFTLs are Filed
– The Right to a Hearing – Letter 3172
– Discharging Assets from a Tax Lien
– Subordinating a Tax Lien
– Foreclosure of a Federal Tax Lien
The Federal Tax Levy
In this section, Eric discusses:
– The Regular Levy & The Continuing Levy
– Levy on Retirement Accounts
– Avoiding a Federal Tax Levy
Collection Alternatives
In this section, Eric discusses:
– Installment Agreements
– Uncollectible Status
– Offers-in-Compromise
– The Offer-in-Compromise Program
– Lump-Sum Offers
– Short-Term Deferred Offer
– Reasonable Collection Potential (RCP)
– Bankruptcy
Collection Appeals
In this section, Eric discusses:
– Collection Due Process
– The Appeals Hearing
– Equivalent Hearings
– Collection Appeal Process (CAP)
Challenging an Assessed Tax
In this section, Eric discusses:
– Audit Reconsideration
– Collection Due Process (CDP)
– Doubt-as-to-Liability Offer-in-Compromise (DATL-OIC)
– Innocent Spouse Relief
Taxpayer Advocate Service
In this section, Eric discusses:
– Contacting TAS
– Low-Income Taxpayers & LITCs
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