Step-by-Step Guidance on Filing Back Taxes, Managing Collections, and Abating Penalties

Working with clients who have failed to file their income tax returns for one or more years can be a challenging task for any tax professional. This webinar by tax attorney Adam Fayne will equip you with the essential tools and strategies needed to navigate these situations. Adam will discuss scenarios where the IRS has already contacted the taxpayer about missing returns, as well as cases where the taxpayer is voluntarily seeking compliance without IRS prompting.

You'll learn how to help your clients in situations involving collection alternatives, criminal risk mitigation, or even marital separation where unfiled returns are a factor. Whether your client’s goal is to negotiate with the IRS or simply come into compliance, this session will prepare you to assist them with confidence.

Webinar Objectives

By attending this session, you will:

• Learn how to represent taxpayers who have not filed tax returns, including individuals and entities.
• Understand how to address unfiled income tax returns, employment tax returns, FBARs, and other foreign information reporting requirements.
• Discover how many years or periods of unfiled returns should be filed to minimize penalties.
• Gain clarity on how to file reasonable cause statements to avoid penalties and understand how to abate penalties related to unfiled or late returns.
• Learn how to handle unfiled returns during IRS audits, collections, and criminal investigations.

This session is essential for tax professionals who work with clients that have fallen behind on tax filings and need to navigate IRS processes efficiently while minimizing legal and financial risks.

Webinar Highlights

• Common Reasons for Non-Filing: Understand why some taxpayers fail to file their returns—reasons may go beyond simply choosing not to file, such as spousal issues, business partner disputes, or physical incapacitation.
• Triggers for Filing: Learn what typically motivates taxpayers to file their income tax returns, whether it's due to receiving a notice from the IRS or other personal and financial reasons.
• Filing with Incomplete Information: Discover strategies for preparing and filing a tax return when complete financial information or documentation is not available.
• When Proactive Filing is Necessary: Identify specific situations where it is crucial for taxpayers to file their returns proactively, such as during collections, bankruptcy proceedings, or fraud investigations.
• Handling IRS-Prepared Returns: Learn how to address and respond to substitute tax returns prepared by the IRS on behalf of a taxpayer, and how to regain control of the filing process.
• Filing Methods for Unfiled Returns: Explore various methods for filing back taxes, including audit reconsideration, submitting an Offer in Compromise, and other IRS-approved options.

Who Should Attend

• Accountants
• Tax Preparers
• EA’s
• CFOs / CEOs
• Financial Compliance Professionals
• Tax Attorneys

Credit(s)

IRS CPE Credits: 1 Tax hour