Mastering the Offer in Compromise: Strategies for Preparation and Negotiation (MOC2)
2.00 Credits
Member Price $105
Non-Member Price $135
Overview
This course is designed to equip tax professionals with a deep understanding of the IRS offer in compromise (OIC) program. Participants will learn the strategic, procedural, and practical elements of preparing and negotiating successful OICs for taxpayers facing significant tax liabilities. The course will walk through the eligibility criteria, financial analysis standards, supporting documentation requirements, and techniques to enhance the likelihood of IRS acceptance. Common pitfalls, recent trends, and real-world case studies will also be covered.
Highlights
- Introduction to the OIC program Types of OICs Eligibility criteria
- Financial analysis Offer amount calculation
- Preparing Forms 656 and 433-A(OIC)/433-B(OIC)
- Supporting documentation and strategy
- OIC submission and IRS review process
- Appeals and negotiation techniques
- Best practices and common pitfalls
- Real-world scenarios and case studies
Prerequisites
None
Designed For
Accounting and finance professionals looking for the latest information on filing and negotiating offers in compromise
Objectives
- Prepare accurate and comprehensive Forms 656 and 433-A(OIC)/433-B(OIC)
- Navigate the IRS OIC process, including timelines, required documentation, and appeals
- Identify the various types of OICs (doubt as to collectability, doubt as to liability, effective tax administration)
- Assess client eligibility using the IRS Reasonable Collection Potential (RCP) framework
- Evaluate and document special circumstances for effective tax administration
- Apply negotiation strategies to increase the chances of OIC approval
- Avoid common errors that lead to automatic rejection or return of the offer
Preparation
None
Leader(s):
Leader Bios
Michael Frost, Shareholder & Tax Partner, MDA Professional Group, P.C.
Mike Frost, CPA, is an associate and shareholder of MDA Professional Group, P.C. and has been with the Albertville office since 1989. Currently a tax partner, he specializes in all areas of income tax and small business consulting including but not limited to: business and individual income tax preparation and planning, estate and retirement planning, estate, gift, and trust tax preparation, small business consulting, Medicare planning and other elder care, audit representation, religious groups and clergy. Frost has conducted CPE engagements and seminars for the Alabama Society of Enrolled Agents and the Childcare Resource Network of Alabama and is an instructor for the Alabama Society of Certified Public Accountants. Mike has served as technical advisor for tax articles for the Sand Mountain Reporter newspaper, and has been a regular on the public speaking circuit. Mike graduated with “high honors and distinction” from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants, the Alabama Society of Certified Public Accountants, and the Accountants Global Network, International. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA. Mike is an ordained minister and pastor. He enjoys music, and is a vocalist in a local Christian band. He is also active in his community as an Albertville Rotarian. Mike resides in Albertville, Alabama with his wife, Kay, and two children, Dylan and Sarah.
Non-Member Price $135
Member Price $105