Enrolled Agent Exam [Part 1] 85, Offer in Compromise Basics

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • Distinguish the three grounds for an OIC: Doubt as to Collectibility, Doubt as to Liability, and Effective Tax Administration (ETA). • Understand that Reasonable Collection Potential (RCP) is the key metric for Doubt as to Collectibility offers. • Recognize that Doubt as to Liability focuses on the legitimacy of the tax debt, not the taxpayer's ability to pay. • Identify that ETA offers apply when collection in full would cause severe economic hardship, even if the taxpayer could technically pay. • Recall that taxpayers must be fully compliant with all current filing and payment obligations before an OIC will be considered. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep