Presentation Outline Saturday 9:00 am 9:45 am A. Debt and the - - PDF document

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9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

Presentation Outline

Saturday 9:00 am – 9:45 am A. Debt and the Discharge of Indebtedness 1. IRC 61, 108, 1017; and Regulations thereunder. 2. Exclusions. 3. Exceptions. 4. Mortgage Debt Relief Act of 2007. 5. Definition and Examples. 6. Bifurcation of Transaction. 7. Form 1099-C and Form 982. 8. Reduction of Tax Attributes. _____________________________________________________________________________ 9:45 am – 10:30 am B. Federal Tax Liens, Levies & Seizures.

• a. What is FTL?
• b. Liens vs. Levies.
• c. Property Subject to Liens.
• d. Priority.
• e. Recording.
• f. Self-Releasing.
• g. Actual Knowledge.
• h. Extinguishing FTLs.
• i. Execution of Levy.
• j. Exemptions.
• k. Continuous Levies.

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 2 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

• l. Foreclosing Liens.
• m. Effect of OICs and IAs.
• n. Appeals.

______________________________________________________________________________ BREAK: 10:30 am – 10:45 am ______________________________________________________________________________ 10:45 am – 11:45 am C. Discharging Taxes in Bankruptcy 1. Chapter 7. 2. Chapter 13. 3. Secured Tax Debts. 4. Unsecured Tax Debts. 5. Priority Tax Debts. 6. “No Discharge” Tax Debts. 7. Dischargeable Tax Debts. 8. Tolling. 9. Substitutes for Returns. ______________________________________________________________________________ LUNCH: 11:45 am – 1:00 pm ______________________________________________________________________________ 1:00 pm – 2:00 pm Discharging Taxes in Bankruptcy (cont’d) Summarizing treatment of various tax debts in bankruptcy; typical scenarios. Q&A for Discharging Taxes in Bankruptcy and Live Demonstration of www.TaxDischargeDeterminator.com ______________________________________________________________________________

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 3 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

2:00 pm – 3:00 pm D. Trust Fund Recovery Penalty 1. TFRP – What is it?

• a. IRC 6672, and Federal Tax Regulations § 301.6672-1

i. Definition of Trust Fund Taxes. ii. Section 6672. iii. Sole proprietors, partnerships, single-member LLCs. iv. Calculating the TFRP.

• b. Who Are “Responsible Persons”?

i. Responsibility. ii. Willfulness.

• c. Procedural Matters.

i. Statute of Limitations. Forms and Procedures. ii. Investigations. iii. Protesting Proposed Assessments. iv. Litigation.

• d. Planning Options, Malpractice Avoidance.

i. Designated Payments. ii. Businesses “in-business”. ______________________________________________________________________________ 3:00 pm – 3:30 pm E. Undoing Joint Liability. 1. Section 6015: Joint and Several Liability. 2. Section 6015(b): Innocent Spouse. 3. Section 6015(c): Taxpayers No Longer Married or Living Apart.

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 4 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

4. Section 6015(f): Equitable Relief. 5. Injured Spouse. _____________________________________________________________________________ Break: 3:30 pm – 3:45 pm _____________________________________________________________________________ 3:45 pm – 4:00 pm F. IRS Organization Overview 1. Organizational Structure and RRA 1998. 2. Exam Division (“Revenue Agents”). 3. Collections Division (“Revenue Officers”). 4. Office of Appeals; Ex Parte Rules. 5. National (and local) Taxpayer Advocate. 6. Research materials: www.IRS.gov; Internal Revenue Code and Regulations; Internal Revenue Manual. ______________________________________________________________________________ 4:00 pm – 5:30 pm G. Dealing with IRS’ Collection Division 1. General Background Information.

• a. Statute of Limitations (audit and collections); tolling.
• b. Designated Payments.
• c. Estimated Tax Payments.

2. Installment Agreements.

• a. The “CP” letters.
• b. The Financial Disclosure Statements forms (433-A, B, F).
• c. Compliance Requirement.

3. Taxpayer Advocate Service (TAS).

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 5 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

4. Collection Due Process (CDP) Hearings.

• a. General Background Information.
• b. “Timely” CDP Requests vs. Equivalency Hearings.
• c. Effect on SOL, Tolling for bankruptcy.

5. Multi-Year Non-Filers. ______________________________________________________________ Sunday 9:00 am – 10:00 am

• 6. Requesting Installment Agreements.
• 7. In-Business Trust Fund Installment Agreements (IBTFA).
• 8. Effect of an Installment Agreement.

_____________________________________________________________________________ 10:00 am – 10:30 am H. Penalties 1. General Matters. 2. Assessable Penalties; Penalties subject to Deficiency Proceedings; Stand Alone Penalties. 3. Late Filing and Late Payment Penalties. 4. Accuracy-Related Penalties. 5. Reasonable Cause & Good Faith (Section 6664). 6. Civil Fraud Penalties. 7. Reliance on Professional Advice. 8. Appeals. 9. Other Penalties (Preparer; International; FBAR). _____________________________________________________________________________

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 6 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

10:30 am – 12:00 pm I. Offer in Compromise 1. Legal Authority (IRC 7122 and Regulations § 301.7122-1). 2. Types of Offers.

• a. Doubt as to Liability.
• b. Doubt as to Collectibility.
• c. Effective Tax Administration.

3. Forms and Procedures. Collection Information Statements. 4. Determining Amount to Be Offered. 5. Other Requirements. 6. Appealing Denied OICs. 7. Miscellaneous Issues. _____________________________________________________________________________ Working Lunch: 12:00 pm – 1:00 pm J. Circular 230 and Q&A 1. General Background Information. 2. Obligations of Representatives. 3. Fee Arrangements. 4. Conflicts of Interest. 5. Advertising. 6. Accuracy and Truthfulness. _____________________________________________________________________________

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 7 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

1:00 pm – 1:30 pm K. United States Tax Court 1. General Background Information. 2. Subject Matter Jurisdiction. 3. Timelines. 4. Strategies. 5. Sample Petition, Answer and other common pleadings. ______________________________________________________________________________ 1:30 pm – 2:30 pm L. Game Plans 1. Multi-Year non-filer. a. Full Pay or Never Pay? b. MFJ or MJS? c. Request W&I and ATs (SFR?) 866-860-4259 #3. d. Accurate or Estimate? e. Start immediate ES or W/H. f. Enter into IA. g. Wait 8 months before OIC (protect future chapter 7 or 13). 2. Large Payroll Taxes Owed by Corporation.

• a. Determine amount of TFRP.
• b. If no IRS involvement, gather assets to make designated payments
• c. Start sole prop (new EIN, new bank accounts, new location, new

w-4s, new name, new phones/fax, new web site, new new new.

• d. Get “low end” appraisal of company assets (include intangibles).
• e. Personally purchase necessary assets with cash or note.

Heinkel Law Group Presentation Outline of Presentation (April 2014) Page 8 of 8 ____________________________________ _______________________________________________________________________________

9600 Koger Blvd., Suite 208 • St. Petersburg, FL 33702 • Phone: 727-894-2099 • Fax: 407-926-0748

• f. Corp’s employees continue to be paid by corporation as it collects

its receivables but are working for sole prop.

• g. Over time, corp’s A/R is collected and sole prop’s A/Rs build.
• h. Continue with designated payments, stay compliance, pay TFRP.
• 3. Other Scenarios (TBD)