Penalty and Interest Accruals
From: $119.00
Date: October 5 th, 2024
Time: 1pmET | 12pm CT | 11am MT | 10am PT
Duration: 120 Minutes
Description:
As IRS interest rates have increased from 3% to 8% over the past two years, understanding how the IRS calculates interest on unpaid balances is essential for tax professionals looking to reduce client dissatisfaction. This course will also cover related penalties, including §6651(a)(2) nonpayment penalties and §6654 estimated tax penalties, along with strategies for mitigation and relief.
Learning Objectives:
- Explain how interest accrues on unpaid federal balances.
- Detail how the failure to pay penalty accumulates on unpaid federal balances.
- Describe the calculation of the estimated tax penalty.
- Identify potential mitigation and abatement strategies for interest accruals, the failure to pay
- penalty, and the estimated tax penalty.
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- Attendance Requirement: Yes
- Session Duration: 2 Hours
Who Will Benefit:
- CPA
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Other Tax Preparers
- Finance professionals
- Financial planners
About Our Speaker
Mr. Eric Green is a managing partner in Green & Sklarz LLC, a boutique tax firm with offices in Connecticut and New York. The focus of Attorney Eric L. Green’s practice is civil and criminal taxpayer representation before the Department of Justice Tax Division, Internal Revenue Service and state Departments of Revenue Services.
He is a frequent lecturer on tax topics for many national organizations, including Insightful Accountant, CCH, the NAEA, the NATP, the ABA Tax Section and the Connecticut Society of CPAs. Attorney Green has served as adjunct faculty at the University of Connecticut School of Law. He was the author and lecturer of the CCH IRS Representation Certificate Program, and has served as a columnist for CCH’s Journal of Practice & Procedure. He is the founder of Tax Rep LLC which coaches accountants and attorneys on building their own IRS Representation practices, and is the host of the weekly Tax Rep Network Podcast.
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