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I WOULD RATHER PAY LESS PLEASE: HOW TO MAKE EFFECTIVE OFFERS IN COMPROMISE

CPE Processing Fee$10.00
Webinar TranscriptionN/A
Presentation Length Hour(s)1.0 hour
CPE Credits 1.0 hour
Subject Area 1.0 - Taxes (Federal Tax)
CE Credits 1.0 hour
Course Id# - HURS9-T-00503-19-S
Course LevelBasic
Instructional MethodQAS Self-Study
PrerequisitesNone
Advance PreparationNone
Recorded DateJune 20, 2019
Date OfferedAugust 7, 2019
Expiration DateAugust 7, 2020
Course Description

Offers in Compromise are an essential tool of tax enforcement because the IRS realizes that it is often better to get half a loaf of bread than none at all. However, for the fiscal year 2017, even though millions of taxpayers owed billions in unpaid taxes, the IRS received only 62,000 Offers in Compromise and it accepted approximately 25,000 of those, or a little less than half. This panel identifies when an Offer in Compromise should be considered and what makes a good offer so that you can increase the likelihood of having your next offer accepted.

Learning Objectives

  • Identify procedures and best practices when filing different kinds of Offers in Compromise (OICs).

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Handout Materials
Presentation Slides
Review Questions
Review Questions
QUESTION 1: 0:11:00 minutes
QUESTION 2: 0:38:00 minutes
QUESTION 3: 0:58:00 minutes
Frequently Asked Questions
  • CPAacademy self-study courses are online.
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  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
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  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Saularnsteinlehr logo

Robert E. McKenzie is a partner of Saul Ewing Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the Internal Revenue Service and state agencies. He has lectured extensively on the subject of taxation. He has presented courses before thousands of CPA’s, attorneys, and enrolled agents nationwide. He has made numerous media appearances, including Dateline NBC and The ABC Nightly News. He dedicates a significant portion of his time to representation before the IRS. In 2017 Mr. McKenzie received the American Bar Association Civil and Criminal Tax Penalties Committee’s Jules Ritholz Award. The award recognizes McKenzie’s dedication and achievement in the field of tax controversy. From 2009 to 2011, Mr. McKenzie was a member of the IRS Advisory Council, which advises IRS management. He has been selected as a Fellow of the American College of Tax Counsel and served as its President from 2017 to 2018. He was vice-chair of the ABA Tax Section (2003-2005). Mr. McKenzie is past chairman of the Employment Tax Committee, past co-chair of the Task Force for Bankruptcy Legislation of the ABA Section on Taxation, and past chairman of the Chicago Bar Association Federal Tax Committee. He was Dean of the National Tax Practice Institute (1998-2002). Additional information can be found on Mr. McKenzie’s website, mckenzielaw.com, where he also keeps an active tax blog.

Mr. McKenzie received his J.D. with High Honors from the Illinois Institute of Technology, Chicago Kent College of Law.

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Daniel Rosefelt has over 20 years of experience in solving complex civil and criminal tax problems for his clients. He regularly appears before the Internal Revenue Service, the Comptroller of Maryland, District of Columbia Office of Tax & Revenue, and other state tax agencies for a variety of serious tax matters.

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Mfo%20law logo

Fran Obeid is the founder of MFO Law. She represents individual and corporate clients in civil and criminal matters involving the Internal Revenue Service, state and city tax agencies, the tax division of the Department of Justice, the United States Attorney’s Office, the District Attorney’s Office, the New York State Attorney General as well as other government agencies.

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Sarah Fields

Rosefelt Tax Law
Senior Tax Controversy Manager
sfields@rosefeltlaw.com
(301) 656-4424 x 504

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Sarah Fields is an IRS Enrolled Agent and Tax Controversy Manager at Rosefelt Tax Law. The firm represents individuals and businesses with serious domestic and international tax and financial issues out of offices in the Washington D.C. Metro area, Florida, and throughout the United States. Sarah has extensive experience in working with IRS and State tax controversy cases daily for clients and specializes in Collection matters. Since 2008 she has worked for top attorney-CPAs in the New York metro area and earned NAEA’s prestigious NTPI Fellow designation in 2016. She holds degrees in Accounting and Engineering and has spoken on Offers-in-Compromise at the NYU Tax Forum in New York City, National Association of Enrolled Agents educational programs, various state bar associations and for CPA Academy. She often will confer with top IRS leaders on matters of the latest importance and provide feedback to them on programs. Sarah listens carefully to her client's situation, priorities, and goals, and provides a comprehensive analysis of the possible solutions for their tax matters. As a key leader of the Rosefelt Tax Law team, she provides her clients with peace of mind by outlining a manageable step-by-step resolution and following up in a caring and consistent manner. She works diligently to defend her clients from aggressive actions by the tax authorities by managing their cases in a controlled and attentive way, and always striving for the best outcome. When not working with clients, Sarah also spends time as a professional painter and textile artist.

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About Our Presenter

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For nearly 85 years, the NYU School of Professional Studies has been a deeply respected institution of higher education grounded in applied learning. It has served as a source of empowerment for individuals from NYC, across the country, and worldwide who aspire to become the next generation of leaders and innovators of industry.

Throughout its rich history, NYUSPS has met the needs of the students and the professional communities it serves. From its early years of training returning World War II veterans to fulfill the nation’s urgent need for skilled technical workers, it has evolved into a professional education powerhouse that offers 19 graduate degrees, 13 bachelor’s degrees, four associate’s degrees, and a plethora of non-degree courses