The Offer in Compromise (or OIC) program, in the United States, is an Internal Revenue Service (IRS) program under 26 U.S.C. § 7122 which allows qualified individuals with an unpaid tax debt to negotiate a settled amount that is less than the total owed to clear the debt. This coursed covers the details involved in order to file an application for an OIC.
Through a series of three (3) sections and eight (8) lectures, this course of approximately an hour utilizes narrated PowerPoint slides to share information concerning the history, resources, economic and technical elements of filing an OIC.
Students should enroll if they or one of their contacts have a delinquent federal tax debt and want to learn how to file an OIC without paying thousands of dollars to a third party instead of doing it themselves with the help of this course.
At the conclusion of the lecture, students will know (in brief) the history and policy decisions utilized to develop and vote into law by the feds this program.
The student can know what their Internal Revenue Service (IRS) driven options are if they currently have delinquent unpaid tax debt.
Designed to articulate the legal and policy framework for the Offer in Compromise (OIC), the lecture shares with the student the IRS Code under which it is authorized, the conditions or circumstance a taxpayer must be in prior to pursuing an OIC and what some of the pitfalls are of not seeking contact with the IRS to begin rectifying a delinquency.
At the conclusion of the lecture, students shall know the options available to them by the IRS and which option best suits their particular situation.
This lecture details what options are commonly utilized by taxpayers who need to resolve delinquent tax debt. Additionally, information is provided representing options to pursuing a for-fee approach to address the issue with the IRS.
Students will be able to understand the non-fee government resources available through the IRS and their elected officials in dealing with tax debt.
Here, the student is advised on the variety of information required to submit to the IRS in order for them to process an application for an OIC.
An itemized listing of the forms and attachments is provided for the student wishing to file an OIC.
Information, forms and steps are covered in this lecture pertaining to the filling out of government forms in order to file for an OIC. The lecture goes beyond the forms to assist the student in obtaining the information requested in the forms and why it is relevant.
This lecture offers a road-map to the student so they may be aware of the step-by-step process involved in filing out all pertinent information for their application.
Data on metrics of the OIC is shared in the context of the utilization and success experienced by those pursuing this approach to resolving delinquent tax debt. Information and recommendations are offered in order for the student filing an OIC to increase their chances of success.
At the conclusion of the lecture, students shall be able to have clarity as to why this is a very viable option to resolve federal tax delinquency.
Key points made throughout the course are revisited in order for the student to connect all elements of what they have been presented.
Upon completion of this lecture, students shall be informed on the areas of emphasis which increase the likelihood of having their application accepted and approved by the IRS.
As the course comes to an end, this lecture seeks to provide confidence to the student that they have made a wise choice to be pro-active in the resolution of delinquent tax debt. Final thoughts are offered that are designed to instill confidence in the process of working with the IRS to obtain all resources that they are entitled to and partner with the government toward a common solution of satisfying delinquent tax debt.
Students will have a comprehensive understanding of the process and the confidence to execute their application in a manner which rivals the professionals, albeit at no charge.
This quiz is a recap of the key theme(s) discussed throughout this course.
Mr. Cuie was born in Los Angeles. He was a scholar and an athlete; and he received a scholarship to play football at Arizona State University and Oregon State University as a running back; and later he was drafted by the Chicago Bears. He received a B.A. in Business Administration from Oregon State University.
Leaving government, Mr. Cuie became an entrepreneur, establishing a company that specialized in agribusiness trade development between the U.S. and Western and Southern Africa. In that role Ron managed a number of significant firsts in a very competitive market.
Key assignments and achievements over Mr. Cuie's career include:
...Wrote educational and training programs for inmates in the Philadelphia Prison System. Activities and assignments pertained to the development of policies and innovative solutions to reduce recidivism and prison populations.
...Worked effectively with public administrators and elected officials at the federal, state and local levels to quantify social dividends associated with programmatic initiatives, earmark public funds andsuccessfully process budget request. Advocated for earned-income strategies as a means to support self-sustained social missions of non-profit organizations.
...As Principal and Founder of Progeni, LTD, promoted trade and economic development between the U.S. and fourteen (14) Francophone nations and South Africa. Negotiated reduced cost for shipping goods by consolidating cargoes and securing groundbreaking agreements for ports-of-entry of West African goods entering the U.S..Opened new markets in the U.S. for Francophone nations which assisted in economic development of sub-Saharan Africa.
...Served under three (3) Mayors for the City of Philadelphia.
...Exceptional performance for a major beverage firm. Responsible for twenty-four (24) route sales territories, distribution facility and profit & loss operation for $27 million annually. Grew net operating profit by 45%.
...Overachieved as Region Manager for Southeast Florida in the premier medical/surgical supply firm. Managed a 140, 000 square foot distribution facility for medical sales. Inventoried over 2,000 items, maintained a fleet of 15 tractor trailers and directed activities for 12 field reps and 35 support staff.