New IRS Tax Collection and Audit Guidance for Taxpayers in Response to COVID-19

Relief for Complex Collection Cases, Strategies for Individuals and Small Businesses, Securing Abatement of Penalties and Interest

Recording of a 90-minute premium CLE/CPE webinar with Q&A


Conducted on Tuesday, May 19, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE/CPE webinar will guide tax professionals and advisers on grasping critical tax collection and audit-related issues and solutions in light of the COVID-19 pandemic. The panel will discuss essential items of the new IRS People First Initiative and subsequent guidance including, unique compliance opportunities for taxpayers due to collection relief, and postponed compliance actions and strategies for individuals and businesses in securing abatement of penalties and interest.

Description

On Mar. 26, 2020, the IRS released its new "People First Initiative" as part of its continued efforts to provide relief to taxpayers in light of COVID-19. Further guidance continues to be rolled out. For taxpayers who are currently under audit, in an appeal before the IRS Independent Office of Appeals, or the United States Tax Court, or are now in collections with the IRS, this offers a unique opportunity to limit their liability. It also comes with substantial pitfalls for advisors if they fail to fully appreciate the limits of the relief being provided by the IRS.

Tax professionals must recognize key procedural tactics and planning methods for taxpayers seeking to avoid collections and compliance actions. For those taxpayers already subject to IRS enforcement actions or currently under audit, the time is now to revisit collection solutions based on the impact of COVID-19 and the current state of the economy.

Listen as our panel discusses critical items included in the recent IRS guidance and the People First Initiative and unique compliance opportunities for taxpayers. The panel will also discuss essential procedural tactics and pitfalls to avoid in audits, offers in compromise, and securing abatement of penalties and interest.

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Outline

  1. IRS response to COVID-19; current guidance and the People First Initiative
  2. Compliance opportunities for taxpayers
    1. Collection relief efforts
    2. Postponed compliance actions and interim steps for taxpayers
  3. Securing abatement of penalties and interest
  4. Additional tax issues and solutions for tax practitioners and taxpayers including
    1. How is the IRS communicating with taxpayers and their representatives during the pandemic?
    2. How have the Tax Court, and the IRS Independent Office of Appeals been impacted by the pandemic?
    3. Activities not postponed by the IRS
    4. Damages for IRS taking illegal collection action

Benefits

The panel will review these and other key issues:

  • What guidance has the IRS provided to taxpayers in response to the coronavirus pandemic?
  • What opportunities does the IRS People First Initiative offer taxpayers who are currently in collections?
  • What procedures should be taken by taxpayers subject to postponed compliance actions?
  • What are the steps to secure an abatement of penalties and interest?
  • What are other tax issues and solutions for taxpayers and tax professionals?

Faculty

Brager, Dennis N.
Dennis N. Brager, Esq.

Certified Tax Specialist
Brager Tax Law Group

Mr. Brager is a nationally known tax litigation attorney, representing clients in criminal and civil tax litigation and...  |  Read More

Obeid, Fran
Fran Obeid

Principal
MFO LAW

Ms. Obeid is the founder of MFO LAW, P.C. She represents individual and corporate clients in civil and criminal matters...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

$347

Download

CPE Not Available

$347