IRS Collections & Installment Arrangements - CFP®

CFP® Certification CE

Take This Course

$16.88

1.5 credit hours

Price includes
CFP® Course :
$15.00
Roster Fee :
$1.88

* A roster fee of $1.25 per credit is required to file CFP® Certification CE credit. That fee is collected as part of your purchase and is then used to pay for the filling of your credits.

If purchased today, this course must be completed by:
December 31, 2024 (225 Days)

The final exam will not be available until the CFP® professional has completed the required coursework.
Description

Although, the IRS suspended the automatic mailing of collection notices routinely sent when a taxpayer owes federal tax on February 5, 2022 to give the IRS an opportunity to clear its processing backlogs, use of such automatic mailings is likely to recur and, meanwhile, other IRS delinquent collection activities continue unabated. Statistics for fiscal year 2021, show the IRS ending inventory with a balance of assessed tax, penalties and interest exceeding $133.4 trillion, enforcement activity involving more than 500,000 taxpayers, and 3.8 million taxpayers paying tax liabilities under installment agreements.

With IRS collection clearly continuing and likely to ramp up in the future, chances that any tax professional will need to be conversant with IRS collection activities and the methods available to challenge them is increasing. It is to that end this course addressing IRS collections is addressed. 

After completing this course, students should be able to:

  • Identify the rights specified in the Taxpayer Bill of Rights;
  • Describe the maximum period of time the IRS may collect taxes due from a taxpayer;
  • List the tax payment alternatives available to a taxpayer;
  • Recognize the IRS decisions that may be challenged by a taxpayer; and
  • Compare the Collection Due Process and Collection Appeals Program.

 

Exam Details

Need Proctor?No
Question Count:5
Passing Grade:70%
Attempts to Pass:Unlimited

Course Details

Course Number:305452
Approved Title:IRS Collections & Installment Arrangements
Approved Credits
1.5 credits in Tax Planning
Provider:InsuranceStudy.com
Provider Number:4717
Topics Covered:Tax Planning
Program Level:Intermediate

Rules for CFP® Certification CE

  • Course material may be downloaded. Most online materials will have a PDF version available on your dashboard to download.
  • Exam is open book. You will not be able to access the online materials at the same time as the exam, but you may use your notes and the PDF download of the material, if that is available for your particular course.
  • You must review the entire course before viewing or completing the exam.
  • The state of National charges an additional fee of $1.25 per credit hour.