Mastering the Offer in Compromise: Strategies for Preparation and Negotiation

Overview

You could pay $0 for this course!
This course is designed to equip tax professionals with a deep understanding of the IRS offer in compromise (OIC) program. Participants will learn the strategic, procedural, and practical elements of preparing and negotiating successful OICs for taxpayers facing significant tax liabilities. The course will walk through the eligibility criteria, financial analysis standards, supporting documentation requirements, and techniques to enhance the likelihood of IRS acceptance. Common pitfalls, recent trends, and real-world case studies will also be covered.

Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course to be eligible. The course code for this program is C-15406. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Introduction to the OIC program Types of OICs Eligibility criteria Financial analysis Offer amount calculation Preparing Forms 656 and 433-A(OIC)/433-B(OIC) Supporting documentation and strategy OIC submission and IRS review process Appeals and negotiation techniques Best practices and common pitfalls Real-world scenarios and case studies

Designed For

Accounting and finance professionals looking for the latest information on filing and negotiating offers in compromise

Objectives

Prepare accurate and comprehensive Forms 656 and 433-A(OIC)/433-B(OIC) Navigate the IRS OIC process, including timelines, required documentation, and appeals Identify the various types of OICs (doubt as to collectability, doubt as to liability, effective tax administration) Assess client eligibility using the IRS Reasonable Collection Potential (RCP) framework Evaluate and document special circumstances for effective tax administration Apply negotiation strategies to increase the chances of OIC approval Avoid common errors that lead to automatic rejection or return of the offer