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Resolving Tax Debts: Offers in Compromise vs. Bankruptcy

RESOLVING TAX DEBTS: OFFERS IN COMPROMISE VS. BANKRUPTCY

Cost $30.00
Presentation Length 2.0 hours

Recorded DateJanuary 8, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

This program will review the pros and cons of the IRS offer in compromise program and compare it to utilizing bankruptcy as an option to resolve a taxpayer's back tax debt as well as when one option should be considered over the other. The program will cover the basics of an offer in compromise and the various forms of offers, the RCP calculation, and factors to consider when filing an offer in compromise. The program will also explain how bankruptcy works, what taxes are and are not dischargeable, how bankruptcy can be used to force a repayment plan on an otherwise unwilling IRS, and when bankruptcy may be the best option to resolve back tax debts.

Learning Objectives:


  • Recall the pros and cons of the IRS offer in compromise program

  • Recognize what factors to consider when filing an offer in compromise

  • Identify when bankruptcy may be the best option to resolve back tax debts

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE

Amanda Evans

Green & Sklarz LLC
Enrolled Agent, Paralegal
[email protected]
(203) 285-8545

Greensklarz

Amanda is an enrolled agent (E.A) and paralegal with Green & Sklarz LLC. As an E.A., Amanda is a federally-authorized tax practitioner with technical expertise in taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels (examination, collection, and appeals) of the Internal Revenue Service.

About Our Presenter

Greensklarz
Green & Sklarz LLC is a boutique law firm that focuses on representing businesses and individuals with complex tax planning needs and representation. The firm’s attorneys have established a reputation for excellent and efficient representation of clients who have complex transactions, planning needs or have encountered difficult circumstances. As planners we handle corporate transactions and significant land use issues, as well as sophisticated estate planning and succession planning for our individual and family clients. As crisis managers, we assist clients with identifying and attempting to achieve core goals, in order to protect businesses, employees and families. We draw on a cross-disciplinary approach to ensure our client’s needs are addressed in order to reach the best possible solution to problems.