Checkpoint Learning

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Dealing with the IRS on Bankruptcy  

CATEGORY: Taxation
  Online & Mobile
2 CPE Credits

If a taxpayer client cannot pay the liability owed to the IRS in full, there are several options to consider. If installment payments are not possible, or the client does not qualify for an offer in compromise, then bankruptcy filing may be the only alternative. Bankruptcy can sometimes provide a more complete solution to the taxpayer's financial problems. This course is intended to be an awareness tool for the tax practitioner. You will learn the basic bankruptcy rules, the types of bankruptcies, classification of tax claims, and which taxes are dischargeable according to the IRS. You will also touch on how to prepare your client to file bankruptcy, including the tax consequences, tax strategies, and finally some bankruptcy planning for your individual and business clients. This intermediate level course is most appropriate for the professional with detailed knowledge of bankruptcy tax law or the professional seeking to expand his or her knowledge base.

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