IRS Collections & Installment Arrangements

Overview

Although the IRS suspended the automatic mailing of collection notices routinely sent when a taxpayer owes federal tax on February 5, 2022 to give the IRS an opportunity to clear its processing backlogs, use of such automatic mailings is likely to recur and, meanwhile, other IRS delinquent collection activities continue unabated. Statistics for fiscal year 2022 show the IRS ending inventory with a balance of assessed tax, penalties and interest exceeding $120.2 trillion, enforcement activity involving more than 430,000 taxpayers, and 3.7 million taxpayers paying tax liabilities under installment agreements.

With IRS collection clearly continuing and likely to ramp up in the future, chances that any tax professional will need to be conversant with IRS collection activities and the methods available to challenge them is increasing. It is to that end this course addressing IRS collections is addressed.

Learning Objectives

After completing this course, students should be able to:
  • identify the rights specified in the Taxpayer Bill of Rights
  • pinpoint the maximum period of time the IRS may collect taxes due from a taxpayer
  • identify the tax payment alternatives available to a taxpayer
  • recognize the IRS decisions that may be challenged by a taxpayer
  • compare the Collection Due Process and Collection Appeals Program 

Tax Year: 2024

Designed For

CPAs, EAs, and finance and tax professionals at any level of their career

Advanced Preparation

None

WebCE® 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.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Find this course for your license:

License or Certification

Regulator

Type