TaxProfBlog – Lesson From The Tax Court: The Concept Of Reasonable Collection Potential (August 16, 2021)

Bryan Camp has published an article on the TaxProf Blog, titled “Lesson From The Tax Court: The Concept Of Reasonable Collection Potential”, which discusses the role of Reasonable Collection Potential in law. The article begins as follows:

One key concept for submitting a successful Offer In Compromise (OIC) is something called the Reasonable Collection Potential (RCP).  RCP is not a hard-and-fast calculation.  It contains lots of wiggle room for savvy taxpayers.  But there are limits.  Jerry R. Abraham and Debra J. Abraham v. Commissioner, T.C. Memo. 2021-97 (Aug. 3, 2021) (Judge Urda), teaches a very useful lesson in both the extent of, and limits to, the wiggle room in RCP calculations.

Click here to see the full article: “Lesson From The Tax Court: The Concept Of Reasonable Collection Potential.

 Posted by Josh Saret, Associate Editor, Wealth Strategies Journal.

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