Tax Seminar #3 – December 3 2012

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May 21, 2012 OIC Rules • $200 NOT available for Installment Agreements! Why? • The first $3,450 per car will, generally, be excluded from net equity computations of vehicles owned by taxpayers. This exclusion is limited to two cars per household. 31 May 21, 2012 OIC Rules • Payments of student loans guaranteed by the federal government for post-high school education will now be allowed (5.8.5.20.4). Query: But not College Tuition? (Probably Not!) 32 76
May 21, 2012 OIC Rules • State and local income tax installment agreements will be treated as allowable expenditures in proportion p to the balance due to the state and/or locality as compared to the amount due to the IRS (5.8.5.20.4(7)). • Form 433-A(OIC) has been revised to include a line item in the budget (53) specifically for delinquent state and local taxes. • The new rules are detailed and intricate. Accordingly, if you are dealing with a state tax debt, you should review the new guidance carefully. 33 May 21, 2012 OIC Rules • The equity in income producing assets will no longer be added to the RCP of viable ongoing businesses unless such assets are not critical to the business operations (IRM 5.8.5.5.1). In some situations, this is a material change which eliminates what many believed to be a double- counting of assets. 34 77
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The Zicklin Tax Seminar Series Tax
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E. MARTIN DAVIDOFF & ASSOCIATES CER
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• Payments of more than 24 months
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Reduced Offers Examples: One of the
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2 If you have any questions, please
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FACTS OFFER IN COMPROMISE CASE STUD
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Form 433-A (OIC) (Rev. May 2012) Us
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Section 3 (Continued) Cash value of
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Section 5 Business Income and Expen
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Section 8 Other Information Page 7
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L:\EMD\433Case11:B Personal Liabili
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Mr. Yogi Berry September 19, 2011 P
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Mr. Jeffrey Austin January 5, 2011
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Texas Iowa, Kansas, Louisiana, Miss
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4. Filing of Tax Court Petition In
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Yogi Berra Estimated 2011 - 2012 Ca
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BY HAND IN OUR OFFICE Mr. and Mrs.
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Representing Clients Before the IRS
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Rules of Engagement in Dealing With
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Rules of Engagement: Dealing With I
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IRS Rules of Engagement: Under Prom
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Dealing with the IRS Regarding Coll
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IRS Announces New Effort to Help St
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Under New Rules, the IRS Will Now R
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Adjustments to IRS Lien Policies 15
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DIRECT DEBIT INSTALLMENT AGREEMENT
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LIEN HAS BEEN RELEASED 163
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617-316-2608 617-316-2606
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Online Payment Agreement Applicatio
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OUTDATED 171
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October 2011 Your Access to Free Cr
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FTC Facts For Consumers 3 access it
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FTC Facts For Consumers 5 or an unp
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Identity Theft 1. Example scenarios
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The Zicklin Tax Seminar Series IRS
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Notice and Demand of Tax Due • Th
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Unfiled Lien v. Filed Lien A filed
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Collection Appeal Rights Process
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IRS Appeals Can Also Help After the
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To Stop an IRS Levy • Resolve the
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How to File a CDP Request • Compl
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I. How Does A Tax Debt Arise? AGOST
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d G. 3 Notice - “Immediate Action
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3. If case is not assigned to the l
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payments. The only other asset is t
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(2) The Trust fund portion of the t
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Department of the Treasury - Intern
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Instructions for completing Form 91
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Collection Appeal Request (Instruct
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Request for a Collection Due Proces
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Information You Need To Know When R
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The Zicklin Tax Seminar Series IRS
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IRS Tax Collections: Liens and Levi
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Treasury Department Circular No. 23
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Table of Contents Paragraph 1. . .
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Paragraph 1. The authority citation
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of section 404(a) (2)), 404 (relati
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(1) The former employee applies for
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This notification must include the
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software, taxation, or ethics); and
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the matter within 60 days of the da
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otherwise prescribed in forms, inst
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Subpart B — Duties and Restrictio
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a rule with respect to that particu
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in writing by each affected client,
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(ii) Advise a client to take a posi
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(5) Marketed opinion — (i) Writte
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under paragraph (e) of this section
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their practice with the firm, that
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paragraph (a) of this section. (ii)
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§ 10.53 Receipt of information con
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as determined under section 6212 of
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and law in support. (2) Summary adj
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specifically provided for in this s
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§ 10.73 Evidence. § 10.74 Transcr
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the Secretary of the Treasury, or d
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to a conference and may be suspende
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Tax Seminar #3 – December 3 2012

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