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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Tuesday, May 19, 2020

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00
CLE
CPE
ALL

This CLE/CPE course will guide tax professionals and advisers on grasping critical tax collection and audit-related issues and solutions in light of the COVID-19 pandemic. The panel will discuss essential items of the new IRS People First Initiative and subsequent guidance including, unique compliance opportunities for taxpayers due to collection relief, and postponed compliance actions and strategies for individuals and businesses in securing abatement of penalties and interest.

Faculty

Dennis N. Brager
Certified Tax Specialist
Brager Tax Law Group

Mr. Brager is a nationally known tax litigation attorney, representing clients in criminal and civil tax litigation and tax controversy matters. Before founding the Brager Tax Law Group, a Los Angeles-based tax litigation and tax controversy law firm, he was a senior trial attorney for the Internal Revenue Service’s Office of Chief Counsel. Since 2008 he has represented several hundred clients with offshore accounts. He also represents clients on a variety of issues, including criminal and civil tax fraud, tax audit and appeals, payroll and sales tax problems, tax preparer penalties, innocent spouse defenses, offers in compromise, installment payment agreements, Office of Professional Responsibility (“OPR”) defenses and more.

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Fran Obeid
Principal
MFO LAW, PC

Ms. Obeid is the founder of MFO LAW, P.C. 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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Description

On Mar. 26, 2020, the IRS released its new "People First Initiative" as part of its continued efforts to provide relief to taxpayers in light of COVID-19. Further guidance continues to be rolled out. For taxpayers who are currently under audit, in an appeal before the IRS Independent Office of Appeals, or the United States Tax Court, or are now in collections with the IRS, this offers a unique opportunity to limit their liability. It also comes with substantial pitfalls for advisors if they fail to fully appreciate the limits of the relief being provided by the IRS.

Tax professionals must recognize key procedural tactics and planning methods for taxpayers seeking to avoid collections and compliance actions. For those taxpayers already subject to IRS enforcement actions or currently under audit, the time is now to revisit collection solutions based on the impact of COVID-19 and the current state of the economy.

Listen as our panel discusses critical items included in the recent IRS guidance and the People First Initiative and unique compliance opportunities for taxpayers. The panel will also discuss essential procedural tactics and pitfalls to avoid in audits, offers in compromise, and securing abatement of penalties and interest.

Outline

  1. IRS response to COVID-19; current guidance and the People First Initiative
  2. Compliance opportunities for taxpayers
    1. Collection relief efforts
    2. Postponed compliance actions and interim steps for taxpayers
  3. Securing abatement of penalties and interest
  4. Additional tax issues and solutions for tax practitioners and taxpayers including
    1. How is the IRS communicating with taxpayers and their representatives during the pandemic?
    2. How have the Tax Court, and the IRS Independent Office of Appeals been impacted by the pandemic?
    3. Activities not postponed by the IRS
    4. Damages for IRS taking illegal collection action

Benefits

The panel will review these and other key issues:

  • What guidance has the IRS provided to taxpayers in response to the coronavirus pandemic?
  • What opportunities does the IRS People First Initiative offer taxpayers who are currently in collections?
  • What procedures should be taken by taxpayers subject to postponed compliance actions?
  • What are the steps to secure an abatement of penalties and interest?
  • What are other tax issues and solutions for taxpayers and tax professionals?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Ascertain guidance provided by the IRS for taxpayers in response to the coronavirus pandemic
  • Identify critical aspects of the IRS People First Initiative for taxpayers who are currently in collections
  • Recognize essential issues and steps for taxpayers subject to postponed compliance actions
  • Ascertain methods in securing an abatement of penalties and interests

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules for domestic and multinational businesses; supervisory authority over other preparers/accountants. Knowledge and understanding of foreign information filing requirements and penalties for non-compliance; familiarity with IRS processes for penalty abatement requests.

Strafford Publications, Inc. 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).