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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 – 2nd Edition.
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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