IRS Collections Representation 1D: Collection Financial Standards & Form 433-A

Collections Financial Standards for Individuals & 433-A

This 2-hour CPE session will cover the IRS Collections Financial Standards that apply to 1040 debtors and how to apply them to your client cases. We will explore each specific expense category and how to apply it. We will also cover conditional vs necessary living expenses, and how to argue for inclusion of certain expenses for your client that they may not otherwise be able to claim.

Session Objectives

--Understand the purpose and application of IRS Collection Financial Standards
--Explain each individual expense category and how to apply them.
--Understand the purpose of IRS Form 433-A & 433-F.
--Complete the Form 433 Income & Expense Table (IET).

Subject Area: Taxes (IRS: Federal Tax Law)
Level: Basic
Preparation: None required.
Prerequisite: Attendees should have basic understanding of IRS assessment procedures.
Credit: 2.0 CE/CPE hours for CPAs and EAs.

IRS Program Code: 4Y1UP-T-00085-20-O
NASBA Sponsor ID: 140945
Texas State Board of Public Accountancy CPE Sponsor ID 010474

Tax Marketing HQ 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.

Recorded: January 14, 2020