Dealing With IRS Collections Potentially Trying and Profitable

Perhaps for practitioners dealing with clients in the IRS collections process the best advice it to “get your money up front,” according to EA Patti Logan, herself a former IRS revenue officer. She notes that enforcement remains king at the IRS, making collections an area where taxpayers are always going to need help and representation. Setting up installment agreements and other negotiations with the IRS requires an understanding of how the collections process works and what IRS staff can and can’t do in terms of settlements and agreements. But, Logan notes, that your success in relieving the pressure your client feels from the IRS could also be sufficient to make paying your bill a much lower priority as well. Ms. Logan’s recent article in the Journal of Tax Practice and Procedure is filled with practical advice for practitioners offering help to taxpayers caught in the collections at the IRS.

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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.

Read this article from CCH’s Journal of Taxation of Financial Products.

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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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