Bankruptcy Cases are set to EXPLODE!
Are you ready to jump in and assist Attorneys?
With the impending explosion in bankruptcy cases due to the COVID Crisis there are not enough trained bankruptcy attorneys familiar with these rules to handle the case load and they need help.
This one of a kind seminar created by Roger Nemeth from Tax Help Software and hosted by ASTPS will show you how to calculate Federal Tax Bankruptcy Discharge Dates along with the IRS CSED (IRS 10 year debt expiration).
This seminar uses both a traditional webinar format along with hands on real world scenarios (redacted) calculations of real cases using real IRS transcripts. You will apply your knowledge and use the latest software to calculate accurate bankruptcy discharge dates and IRS CSED dates.
Attendees will be able to evaluate bankruptcy clients for tax debt resolution and tax resolution clients for bankruptcy options. The bankruptcy Means Test will be compared to the IRS Collection Information Statements to learn that the two forms are very similar and can be completed at the same time. On the final day attendees will learn how to locate local Bankruptcy leads and how to identify local bankruptcy attorneys who are actually working local cases.
This course was originally presented over 5 days, and contains over 15 hours of training and Q&A!
Module 1 – The Basics of Bankruptcy
- Define Chapter 7, 11, and 13 bankruptcies.
- Identify the 3 bankruptcy rules 3 year, 2 year and 240 day rule.
Module 2 – The Means Test
- Learn what the means test is and when is it used.
- Compare the means test to the IRS 433 forms.
- Learn when a means test is required and the steps involved in calculating the means test.
Module 3 – Collection Statutes Expiration Date (CSED)
- Identify what a CSED is.
- Learn what a CSED tolling event is.
- Identify the tolling events that extend the CSED.
- Learn how to obtain the IRS CSED.
- Learn how to calculate the CSED.
- Learn how to contest the CSED if it is incorrect.
- Learn strategies for the best way to get your client to CSED before the IRS knows.
Module 4 – Bankruptcy Federal Tax Discharge Rules
- Learn what the 3-Year, 2-Year and 240-Day Rules are and how they affect the Bankruptcy Tax Discharge Dates.
- Learn what qualifies as tax return.
- Learn how to identify if an original tax return has been filed pre SFR assessment.
- Learn how to identify the actual return filed date.
- Learn about the bankruptcy discharge equitable tolling events.
- Learn how to identify pertinent information on the IRS Tax Transcripts to Calculate the bankruptcy tax discharge dates.
- Learn the about the McCoy Ruling (Late filed returns).
- Learn about the Beard Test.
Module 5 – Calculating CSED & Bankruptcy (Practical Exercise)
In this module you will be able to go through 10 scenarios using real redacted transcripts using Excel and THS software.
Module 6 – Marketing your new skills
In this module you will learn how to market your new skills to local bankruptcy attorneys and will get a template letter they can use to start bringing in new business.
Module 7 – Q&A Sessions
After each teaching session we did an hour question and answer session. Here you can listen to all the Q&A.
Bonus Module – IRS SOL Dates: ASED, RSED, & CSED
This bonus module was taken from a previous ASTPS webinar that Roger Nemeth presented talking about statutes of limitation dates.
Roger W. Nemeth, EA, CTRS, NTPI Fellow
Roger is a nationally recognized speaker who in the past year has presented to over 30,000 attendees from the National Association of Enrolled Agents (NAEA), Connecticut Bar Association (Bankruptcy Conference), American Society of Tax Problem Solvers (ASTPS), American Academy of Attorney-CPAs (AAA-CPA), California Society of Enrolled Agents (CSEA) and numerous other regional events. Roger is considered by many to be the nation’s leading expert on IRS transcripts and how to interpret the data. Roger revolutionized the tax resolution industry in a time when many were being investigated and shut down due to their failure to handle the complex tax issues that exist. Roger invented the IRS Transcript Report Analysis industry in 2009 when he quickly realized tax professionals were analyzing raw IRS data manually one taxpayer and one year at a time. In 2013 Roger launched Tax Help Software which quickly became the go to solution for tax professionals and bankruptcy attorneys. Every year Roger educates thousands of tax professionals across the country on how to analyze IRS transcripts. The THS Bankruptcy Seminar is Roger’s most advanced education session created to date. He created this seminar in a way that would allow the attendees to truly understand the concepts and do the calculations themselves.
Who is this course for?
This is an advanced course.
Attendees should be familiar with the basics of IRS transcripts and how to obtain them. Tax Pros should have a working knowledge of tax resolution. For example they should be familiar with the 433 Collection Information Statements.
Bankruptcy attorneys should be familiar with the different types of bankruptcies and a basic understanding of the Means Test.
Do I need to own THS to take this course?
Attendees will be able to download the THS standalone Bankruptcy Calculator with purchase of this course.
The THS CSED/Bankruptcy Calculator imports the transcript and allows the dates to be adjusted. Users will first learn how to use the tool and then proceed to doing their own calculations using real IRS transcripts that have been redacted. Currently the THS CSED/Bankruptcy Calculator is the only product on the market that allows the manual adjustments of imported data critical to calculating accurate dates.
Why is this course teaching both CSED and Bankruptcy Discharge Dates?
For Tax Pros doing resolution understanding how to calculate accurate CSED is imperative since the IRS’s internal calculations are incorrect almost half of the time per the IRS Inspector General. Tax Pros should also be familiar with the bankruptcy discharge dates when consulting with tax resolution options since it is a valid option for some taxpayers.
It is also a great marketing tool to work with and get referrals from Bankruptcy Attorneys since most tax debt survives bankruptcy. For Bankruptcy Attorneys the CSED is the date at which the IRS debt will be written off by the IRS. It is critical the Bankruptcy Attorney be familiar with these dates in determining if Bankruptcy is the best strategy for their clients.
“32 years in the taxpayer representation field, 100’s of attorneys I have worked with, this course is an ABSOLUTE….. MUST. No where can you get the depth of information, the practice management , the invaluable information/source materials and best practice tips. You will absolutely have the confidence and knowledge to be the superstar to protect the client and prevent the Attorney from basic errors in TAX Calcs.”
“As an advanced level course from Mr. Nemeth and ASTPS, I was expecting an aggressive amount of material to be covered. The prepared materials that were presented left no disappointments and the extra “Easter Eggs” provided during the gracious allotments of daily Q&A sessions alone were more than worth the registration. Thank you for your commitment to furthering the industry and willingness to share your expertise.”
“Great workshop! It was clear that the presenters actually wanted the attendees to learn and absorb the mountains of information they presented, which was a rare level of commitment to experience. It made me try even harder just to keep up with Roger to match his level of output. Great people!”
“I have approximately 20 years experience in the industry and have performed quite a few resolution cases. I wanted to expand my knowledge and decided to learn bankruptcy training from Tax Help Software. I learned so much more about CSED’s and bankruptcy than any other training class. I highly recommend taking this course to anyone who wants or needs advanced training for tax resolution and/or bankruptcy.”
“Never have I attended a program that promised so much and delivered so much more. This is Roger Nemeth at his greatest. He exhibited the utmost patience when we struggled with this laborious material and he displayed an untiring dedication to making sure we all grasped it. Incredible!”
“Roger has developed the crème-de-la-crème of classes about discharging taxes in bankruptcy for us tax resolution professionals–not only does he take us through how to do the work; he shows us how to get the work. We have already been developing our marketing list prior to the class ending and next week will begin our campaign of mailing info to bankruptcy attorneys. Roger–thank you for all the great quality work you do!”