Credit Counseling Association to Unveil IRS Training Program at Conference

The American Association of Debt Management Organizations (AADMO) will show the Internal Revenue Service’s “in-house” training program and video for credit counseling agency investigations on October 25, 2006 at the AADMO Fall Conference in Las Vegas.

This internal training program and video was developed by the IRS in conjunction with the Attorneys General from various States and the FTC. The video, of several hours duration, was used extensively within the IRS and shared with the States.

“This is critical information for anyone who is a lawyer who has a credit counseling agency as a client, anyone in a leadership or management role in an agency or serves on the Board of an agency. This is a rare opportunity for the industry to learn the federal government’s inside perspective on the legal evaluation of credit counseling”, said Mark Guimond, Executive Director of the AADMO. According to the video, “We (the IRS) will explain why we are revisiting what has been a settled, or at least a very quiet area of the law, for 30 years. We will tell you about the federal and state concerns over abuses in this area and how we, here at EO, hold the key to the enforcement effort. Most importantly we will show you how to analyze these cases, how to process them and how to coordinate them”.

The video continues, “It is our hope that you, our front line troops, will be prepared to perform your pivotal role."

“There are a lot of people who have speculated about the nature of the credit counseling investigations. Knowing the content of this training program will help educate the industry about the legal factors and elements of operations of which the IRS is critical. It was truly fascinating to learn some of the areas of focus and what is considered legally acceptable – it seems that a lot of experts have missed some truly important information”, added Guimond. Other sessions at the AADMO Fall Conference will include:

• How to Become a HUD Approved Housing Counseling Agency

• The World After Tax-Exemption Revocation: Transition Options, Personal Liability and Who Has to Pay the Taxes?

• Tax Exemption Update: IRS Guidance, New Legislation, But How Much Do We Really Know?

• State of the Industry and Legislative Update

• Complying with the Virginia Credit Counseling Law

• Knowing and Understanding the Changes to the Law of Iowa

• Panel Discussion of the IRS Training Video

• And More to Come

The AADMO Fall Conference program and registration information can be found at www.AADMO.org or by calling 281-361-2325.

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