Enrolled Agent Exam [Part 3] 66, Bankruptcy and the Collection Statute

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: - How the automatic stay halts most IRS collection but allows certain actions like audits and assessments. - The '3-2-240 Plus' mnemonic for determining if income taxes can be discharged in bankruptcy. - Why trust fund taxes, like withheld payroll taxes, are never dischargeable. - How to calculate the tolling of the 10-year Collection Statute Expiration Date (CSED) due to bankruptcy. - The ethical line an EA must not cross regarding providing legal bankruptcy advice to avoid the unauthorized practice of law. 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