Introduction to Collections

A large part of the work that taxpayers need the assistance of a trained professional in tax resolution and representation is found in the specific area of Collections. It is nearly impossible to assist taxpayers successfully with their IRS troubles without a fundamental understanding of Collections and the process within the IRS. This basic course will help remedy weaknesses you may have in your understanding of collections, cover the background and current landscape, and show you what the collection process is from start to finish. We will cover some of the collection tools the IRS can use such as Notices, Liens, Levies, and Seizures as well as Private Collection and revocation or denial of passports.
We will also cover the fundamentals of the CIS (Collection Information Statement) and touch on what Expense Standards are; discuss Income and also dealing with assets in order to give you the beginning building blocks to use this in practical application outside of class. We also go over possible alternatives to collection, which is arguably the best part of this class in order to know the potential options you might have in assisting a client in this situation. In fact, the many options might even surprise you!