Completing Form 433 to Resolve an IRS Collection Case On-Demand Webinar

Summary

Form 433, Collection Information Statements, is a series of forms used by the IRS to gather financial information from taxpayers who owe taxes and are unable to pay in full. This information is used to determine a taxpayer's ability to pay their outstanding tax liabilities and establish a payment plan or settlement agreement. The biggest mistake made by practitioners is not understanding how the forms work and how the IRS uses its allowable expenses to determine how much the client can afford to pay. By the end of this webinar, you’ll understand the differences between these forms and how to resolve a taxpayer’s collection case using the reasonable collection potential (RCP) that the IRS calculates.

Objectives

Upon completion of this course, you will be able to:

• Explain the uses the IRS has for the Form 433, Collection Information Statements
• Describe the impact of the allowable expenses on the IRS RCP calculation
• Identify issues with Form 433 and explain which version to use for each type of case

Course Details

This on-demand webinar includes the presentation slides, exam questions and recording of the webinar broadcast with review questions. CPE is issued after exam is successfully completed.