Offers in Compromise: Advocating for Victims of Payroll Service Provider Failures

$49.00

Target Audience:  CPAs, EAs, Annual Filing Season Program Participants

Field of Study: Taxation (NASBA); Federal Tax Update (IRS)

Seminar Level: Beginner


IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (afsp) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT. 

Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.

IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.

DISCLAIMER: THIS SEMINAR WAS FILMED IN DENVER, COLORADO, ON JULY 28, 2015, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.

The Taxpayer Advocate Service (TAS) presented this seminar at the 2015 IRS Nationwide Tax Forum.

Congress recently enacted legislation that incorporates two recommendations made by the National Taxpayer Advocate over the years and requires the IRS to: (1) issue notices to both the employer and the payroll service provider (PSP) when either party requests an address change; and (2) give "special consideration" to an offer in compromise request from a victim of fraud or bankruptcy by a third-party payroll tax preparer. Offers based on effective tax administration provide the IRS with the flexibility to consider the totality of the circumstances that led to a delinquency. This seminar discusses the "special consideration" which the IRS must provide to victims of third-party payroll service providers. It also covers the documentation necessary to complete the offer investigation and allow for a resolution that is in the interest of both the taxpayer and the government.

By the end of this presentation, you will be able to:

  • Identify risks associated with hiring a payroll service provider (PSP)
  • Recall IRS collection actions in cases involving PSPs
  • Define offer in compromise (OIC)
  • Differentiate between the three types of offers the IRS considers
  • Recognize when additional forms must be submitted with Form 656, Offer in Compromise

No prerequisites or advanced preparation are required for this seminar.