TOPIC: Installment Agreements

 Meeting Description:
 When taxpayers find they cannot pay their federal tax  liability  they need help!  Understand how to help your client  with an  installment agreements and when to consider other collection alternatives like Offer-in-Compromise, bankruptcy or currently not collectible.   If an installment agreement is appropriate, learn about the different forms, how to get it accepted, and how to counsel your client.

 Learning Objectives:

• Difference between Guaranteed, Streamlined, Partial Pay and In-Business Trust Fund Express Agreements
• Tax Liabilities under $10k, under $50k and over $50k; when is a 433-A necessary?
• Increases, Decreases, Varied Payment Amounts?
• Ways to Pay: EFTPS, Direct Debit, Payroll deduction, Credit Card, Check or Direct Pay
• What does it really cost:  setup fees, failure to pay, interest rates?
• Impact on liens, levies and CSED
• Pitfalls that put your client’s agreement in jeopardy
• Why do installment agreements get rejected and appeal rights?
• Reinstituting a defaulted installment agreement
• Six year rule and one year rule
• How to counsel your client:  aggressive installment or minimum payment?

OUR FEATURED SPEAKER: 

Martin Wolfson, EA

Martin Wolfson is an Enrolled Agent in Marlboro, New Jersey.  Martin prepares tax returns and represents taxpayers for audits, collections and appeals before all administrative levels of the IRS. Martin had a 35 year career with the IRS, holding senior positions including Field Branch Chief in the Collection Division and Senior Field Territory Manager where he was responsible for leading and initiating programs for examination and collection in Northern New Jersey.

CE Credits:  2 IRS CE, 2 CPA CPE, 2 CFP CE