irssolutions - Tumblr blog

[irssolutions]

Installment Agreements for Tax Pros: IRS Form 9465 and Form 4

[irssolutions]

IRS Form 8821 vs 2848: A Guide for Tax Information Authorization

[irssolutions]

Choosing the Best Client Portal for Accountants

[irssolutions]

Tax Audit Software: An Accountant’s Crystal Ball

[irssolutions]

How to Expand and Promote Your IRS Tax Resolution Practice

Imagine this: you’re at a cocktail party, and someone asks what you do for work. You say, “I’m a tax pro,” and what do they envision? Chances are that your companion has an outdated idea of what a career in accounting entails. They might imagine you working long hours (evenings and weekends, too!), wearing a green visor and sitting under a banker’s lamp, using an adding machine to prepare one tax return after another, hour after hour, and day after day.  

Even worse, it’s not only laypeople who are mistaken. This common misunderstanding is limiting students’ choices to pursue a career in tax work and is causing an industry-wide labor shortage. In a recent article titled More Predictions about the Profession’s Futurepublished in The CPA Journal, CPA Yigal Rechtman worried that the future of his profession is at risk and offered some thoughts about what’s driving the decline, writing, “The current impediments to growth are mostly driven by the perception of prospective entrants to the CPA profession.” Research supports Rechtman’s assessment of the effect of this negative perception. The International Federation of Accountantsreports that “one impact felt by professional accountancy organizations is a diminishing pipeline of graduates ready to enter certification programs.” The IFAC attributes this to “fewer young people than historically has been the case [being] attracted at an early age to pursuing a career as an accountant.” 

These people don’t know that the work itself has changed, as has the cutting-edge technology that top firms are using to get it done.Do you? These days, to maximize both profits and professional satisfaction, you’ve got to focus energy in two directions: broadening your services to create more revenue streams and attracting new business from existing and potential clients. The team at IRS Solutions, a Tax Pro’s Best Friend, has some tips to help you.

Expand Your IRS Tax Solutions to Include Tax Resolution

The best thing you can do for your practice is to find ways to serve your clients beyond tax preparation. Tax prep is valuable and important work, but if you’re still making it the primary focus of your practice, there are drawbacks to consider. Chief among these is the seasonal and inconsistent nature of the workload and attendant income. It's great in the spring and fall– although it might come at some cost to your family or social life – there’s much less going on and coming in during the rest of the year. You’ve got to budget for those lean months.

Many of your colleagues have gotten off the tax prep roller coaster by shifting to a practice in tax resolution.Professionals who specialize in tax resolution help grateful clients in a wide range of difficult situations.No two days in tax resolution are exactly the same. You might help a client in need of tax resolution services by:

Submitting a successful Offer in Compromise (OIC), determining that the client’s account status should actually be Currently Not Collectible (CNC), or even that CSED (Collection Statute Expiration Dates) have elapsed without notice.

Proposing a payment plan for back taxes.

Getting your client qualified for a first-time abatement.

Protecting client assets from liens and their wages from garnishment.

Supporting your client in a defense against an IRS audit.

Protesting an error on an IRS transcript.

Be Your Own Best Advocate

Once you’ve decided to add tax resolution services to your practice, there’s only one thing left between you and the professional life you’re ready to create: you’re going to need clients. There is a stigma around tax difficulties, and people are often reluctant to reach out. You've got to spread the word that you are available to help anyone who needs your services. While some firms hire outside agencies to handle their marketing, more do the work themselves instead. That’s why membership in IRS Solutions includes access to our exclusive Marketing Toolbox.

We have created a Marketing Workbookas a roadmap to kickstart the marketing of your tax resolution services, grow your business, and succeed. In it, you’ll find ten steps you can take to attract clients to your practice.

OurMember’s Marketing Toolbox, which is included for FREE with the software,provides even more resources to help you promote your tax resolution services, constantly updated with new options. 

Here are four areas where you can take action right away:

Email 64% of small businesses use emailto communicate with current and potential clients, and it remains an extremely effective marketing tool. 99% of those who use email check their inbox every day. Some even check their email up to 20 times a day. Don’t be ashamed to let your clients know about your services. IRS Solutions has put together an infographic for you to share with your clients, friends, and family so that they will know what you can do for them. 

Social Media

More than halfof the world’s population uses social media platforms such as Facebook, Twitter, Instagram, and TikTok. Social media posts are a great way to let people know about all the different services you offer and to help them connect with you. But constantly ideating and generating fresh content can be exhausting.  Reduce the amount of time you devote to this task by leveraging the IRS Solutions Marketing Toolbox. We give you a planning calendar complete with images and captions for you to post.  By using Facebook posting in advance, you can create your posts two months in advance. You can view this in action by viewing this demonstration on How to get an IRS Collection Client. Our members rave about the posts that they are given to share with their clients and friends. 

Client Communication

Your existing clients are your best new clients! They’ve already seen you in action, and they trust you. Let them know about the new services you offer with a personalized letter sent in the mail. You can also ensure that new clients know about your range of services when you include an easy-to-read infographic in their onboarding paperwork. Printable copies of these communications and more are included with your IRS Solutions membership.

Online Reviews:

You work hard on behalf of your clients, and they know it. Follow up successful work with an e-mail thanking your clients for their business and include an invitation to leave a 5-star review online or to tell friends and family about your practice on social media.  

Try the Best Marketing Tools for Your IRS Tax Solutions

Find out how the easy-to-use IRS Solutions software transforms your day.  With the added bonus of the Marketing Toolbox, you are well on your way to easily and effectively promoting your practice. Schedule your demotoday.

[irssolutions]

3 Reasons Your Tax Practice Needs an IRS Offer in Compromise Calculator

Tax resolution professionals know that one of the most important services they can provide their clients is proactive, successful negotiation with the IRS. In many cases, that means an Offer in Compromise (OIC). Like any agreement, a great OIC is one in which neither party entirely prevails but in which all stakeholders walk away feeling satisfied. 

Consider the case of a taxpayer who has fallen into arrears. Coming to the table, the IRS would love to collect every dime of back taxes owed to the United States government, if possible. The taxpayer, on the other hand, would be happy if they could walk away from the situation with no financial consequences. Sometimes neither scenario is feasible. The IRS hopes that if your client had the resources to pay their taxes in full, they would have done so by now, and so do you. The agents working on your client’s case are willing to negotiate, but only to the point allowed in their guidelines. You’ve got to submit a proposal that your client can afford and that the IRS finds palatable, but how will you determine what that looks like? The best way to make it happen is with an IRS Offer in Compromise calculator like the one that’s built into IRS Solutions.

 

Easily and Quickly Determine Client Account Status

One of the first things you’ll do for a new tax resolution client is to determine the status of their account. That might mean concluding that their case is Currently Not Collectible (CNC) or determining and leveraging accurate Collection Statute Expiration Dates (CSEDs). In many cases, you’ll need to determine the client’s eligibility for an Offer in Compromise (OIC) to settle an outstanding debt, then craft and submit that offer on their behalf. 

The best way to make that determination is by using specialty software. There are several options available to you. IRS Solutions was created by tax professionals for tax professionals and includes everything you need to succeed, including solution recommendations. After you’ve gathered and input your initial client data and used our ultra-fast API to retrieve and translate their IRS transcripts, you’ll get an IRS options summary. This will let you know what you can and can’t do and advise your client of the best next steps. The system will also generate a detailed, easy-to-understand report for you to review with your client, showing them that you have analyzed their case and helping them understand the path forward, and let them know why you are the best person to assist them.

 

An IRS Offer in Compromise Calculator Boosts Chances of Acceptance

If you determine that an Offer in Compromise is best for your client, the next step is determining the best offer you can make on their behalf. In recent years, the Internal Revenue Service has accepted only around 30% of the OICs that it has received. The odds are greatly increased if you submit an offer of what the IRS is willing to accept as using IRS Solutions Software takes all IRS guidelines into consideration.

A successful OIC will have to take several factors into account, including balance due, current assets, income and expenses, and the client's CSED. The amount owed will come directly from the IRS. Be sure to counsel resolution clients that they must be fully transparent when disclosing assets and income. The IRS will not look favorably on bad-faith dealings. They’ve also got to keep expenses to allowable, modest levels, adhering to IRS allowable living figures for budget items such as rent, food, car payments, and insurance. They must disclose not only salary figures but also alimony, rental fees on property, and all other sources of income.

You’ll also need to determine whether your client can afford a lump sum (five or fewer monthly payments) settlement or require a payment plan. IRS payment plan options range from six to 24 months in duration and are determined based on a combination of assets and monthly remaining income. There was a time when you had to sit down with paper, pencils, and an adding machine to use those figures and manually calculate your offer, then put it in an envelope and cross your fingers.

Today, there’s a better way. IRS Solutions members can have their clients easily enter their asset, income and expense data themselves.  The secure portal will help clients answer questions at their leisure and members will receive notification when completed.  IRS Solutions software will take into account what is owed and what their financial situation is and then make an optimized recommendation; giving members a full report to give to their clients. 

 

Live Your Best Life In and Out of the Office with an OIC Calculator

According to the Association of International Certified Public Accountants, the numbers of people entering the profession continued to decline in 2021. Quality of life and job satisfaction issues are among the reasons for this drop-off, particularly the long hours and seasonally erratic workload traditionally associated with life as a financial professional. Not coincidentally, these are also common reasons for transitioning to a practice that specializes in tax resolution. 

Tax resolution specialists typically earn more in fewer hours per week than their peers do. To achieve this goal, you’ve got to make smart choices about prioritizing work for yourself and your staff, spending as much time as possible on revenue-generating tasks, and as little as possible on chores that eat time without adding to the bottom line. An OIC calculator takes one time-consuming task off your to-do list, freeing you up to devote those hours to more professionally and personally rewarding tasks. 

What could you do with those reclaimed hours? Whether your goal is to attract and serve more clients or to leave the office a little bit earlier each day to spend more time with your family, adding an IRS Offer in Compromise calculator to your practice can help you get there.

 

Additional Resources

We dive deeper into working an Offer in Compromise and the benefits of an IRS Offer in Compromise calculator in these 2 guides:

8 Tips to Boost Offer in Compromise (OIC) Acceptance Rates

6 Tax Resolution Mistakes When Working an OIC

Try Tax Resolution Software with a Built-In Offer in Compromise Calculator

Are you ready to find out how using tax resolution software with an OIC calculator can transform your practice? We'll be happy to give you a one-on-one tour of IRS Solutions, a Tax Pro’s Best Friend. Schedule your demo today.

[irssolutions]

Understanding the CAF Number: A Tax Pro’s Guide

The Centralized Authorization File (CAF) is a database that the Internal Revenue Service uses to manage information regarding professionals appointed to act on behalf of others. The CAF number is not an authorization in and of itself. Rather, it identifies the file containing any legal authorizations that have been filed by a tax resolution professional. With it, IRS personnel can look up whether the tax professional has the authority to access the taxpayer's data, rather than having to ask them to fax the signed authorization each time.Anyone working with tax resolution clients will want to get a CAF number to save time when communicating with the IRS.Whether calling to request information or downloading IRS transcripts through e-Services, it will save a ton of time. Your CAF number is nine digits long and is unique to you. It is different from your TIN (Taxpayer Identification Number), EIN (Employer Identification Number), or PTIN (Preparer Tax Identification Number). As a professional specializing in tax resolution, you may need all of them.

How Do I Get a CAF Number?

A CAF number is assigned to you the first time you are designated as an authorized representative on IRS Form 2848 (Power of Attorney and Declaration of Representative) or Form 8821 (Tax Information Authorization). Getting a CAF number is easy. The first time you file one of those forms with the IRS, simply indicate "none" as your CAF number, and one will be automatically generated for use on all future cases. Previously, you could expect that the IRS would mail your CAF number in a week or two. It seems that, like so much in the post-Covid world, CAF number generation is now slowed down, so you’ll have to be patient. On its website, the IRS currently says, “Expect delays for Centralized Authorization File (CAF) number authorizations. Normal operations will resume as soon as possible.” Once you have a CAF number, you will use that same number when communicating with the IRS about your tax resolution clients. Be sure to put it on forms 2848 and 8821.

IRS Solutions’ software offers CAF Check Monitoring which will check to see if your authorization has been approved so you can download transcripts and relevant documents straight from the client dashboard. See it in action:

Errors That Can Delay Processing of Your CAF Number

As in all things related to tax services, when it comes to getting a CAF number, details matter, and small mistakes can cause long hold-ups. The IRS processes more than 3.5 million Forms 2848 and 8821 each year, many of which require the generation of new CAF numbers. During the fiscal year 2018, the IRS rejected 384,081 authorization requests and issued a statementwith recommendations for tax professionals. Among the reasons for rejection were:

No signature or issues with the digital signature or signature stamp by the taxpayer. Forms may be signed with a ‘wet’ signature (by hand and in ink) As of June 2021, digital signatures are now accepted by the CAF unit when uploading the POA directly.  If you fax, you still need a wet signature.

The incomplete taxpayer or representative information, blank titles for Business and/or Company officers, lack of signatures, or missing signature dates on Form 2848 or Form 8821.

A copy of a previously filed Form 2848 was not included when a change of designee was requested.

A lack of specificity around the matter in question. Filing a form for “all years” or “all future periods” will get it bounced back to you. 

The best way to ensure that your CAF number is processed in a timely fashion is by supporting your business with specialty software like IRS Solutions that interfaces directly with the IRS, and which offers default settings to make it less likely you will miss something or enter data incorrectly.  

Keeping Your CAF Number Secure

In the same statement referenced above, the IRS also emphasized the need to keep your CAF number secure. You should keep your CAF number private, as you should, with all sensitive, personally identifiable information(PII). If your CAF number were to fall into the hands of cybercriminals, chaos could result for your business and your clients. Never leave it where others could find it, like on a sticky note or pinned to a bulletin board. Suggestions from the IRS include:

Read IRS Publication 4557, Safeguarding Taxpayer Data, and use it to help you create and implement a data security plan.

Designate someone at your firm to review your third-party authorizations annually. If the list includes clients who are no longer active, fax a copy of the authorization form to the CAF unit with the word “Withdraw” written at the top. More details about this are available in IRS Publication 947, Practice Before the IRS, and Power of Attorney.

Learn about the signs of data theft, such as transcripts that you did not request or for clients you do not represent.

Immediately communicate with the IRS if you suspect a data breach.

Be sure that any software you use to manage your tax resolution business takes steps to ensure your privacy. IRS Solutions is hosted on the Amazon Web Services Government Cloud(AWS GovCloud), a secure platform. AWS successfully protects your PII along with Controlled Unclassified Information (CUI), medical documents, financial data, law enforcement records, and more for government agencies, businesses, and millions of citizens every day.

 

What if I Lose or Forget My CAF Number?

Tax professionals who forget or misplace their CAF number can get help from the IRS. Call the Practitioner Priority Service(PPS) at 866-860-4259. A PPS agent will help you retrieve your CAF number after you authenticate your account. 

What's Next?

Getting a CAF number is the first step toward a rewarding, fulfilling career in tax resolution. Next, enjoy a 30-day trial of IRS Solutions, a tax pro’s best friend. Our powerful product will help you:

complete IRS forms, including Forms 2848 and 8821, accurately and in full.

access and download your clients’ IRS transcripts.

calculate options and recommend options, including Currently Not Collectible (CNC) status, installment plans, and Offers in Compromise.

stay on top of deadlines, changes, and IRS actions with automated alerts.

calculate CSED and bankruptcy discharge dates.

get the answers to your questions in our friendly online community of expert colleagues.

communicate elegantly with clients and colleagues using materials branded with your logo on them.

attract new clients with an easy-to-use marketing toolbox.

stay current with the latest industry trends and best practices through continuing education.

Our experts can even guide you through the process of getting a CAF number if you need one! Let’s connect and get you started. Schedule your free demo today.

Learn why tax resolution is a highly profitable and recession-proof business! Book a demo today.

[irssolutions]

2023 Tax Resolution Statistics [Infographic]

There are many good reasons to consider adding tax resolution services into your practice. In addition to the satisfaction of helping your clients through a stressful situation and escaping the high-stress daily grind of tax preparation, tax resolution allows you to add an additional revenue stream beyond annual tax returns and stabilize and grow your ‘off-season’ revenue.

The demand for tax issue resolution is constant and growing, and there are several key trends that will drive a continued demand for tax resolution services.

 

2023 Tax Resolution Outlook:

The Inflation Reduction Act has been passed into law 

The Act provides $80 billion in funding to the IRS through FY 2031, allowing the agency to hire thousands of agents and revamp decades-old technological systems. This funding will cover a wide range of functions, but audits and enforcement are included.

Per Secretary of the Treasury Janet L. Yellen, as quoted in Reuters: “The act includes much-needed funding for the IRS to improve taxpayer service, modernize outdated technological infrastructure, and increase equity in the tax system by enforcing the tax laws against those high-earners, large corporations, and complex partnerships who today do not pay what they owe.”

Temporary Tax Benefits Expire

The pandemic and federal stimulus led to a huge spike in the number of Americans who either owed no federal income tax or received tax credits from the government. According to the Urban-Brookings Tax Policy Center, 107 million households owed no income taxes in 2020, up from 76 million — or 44% of all taxpayers — in 2019.

“It’s a really big number,” said Howard Gleckman, a senior fellow at the Tax Policy Center. “It’s also really transitory.” Gleckman said the main reasons for the spike — high unemployment, large stimulus checks, and generous tax credit programs — will largely expire after 2022, so the share of nontaxpayers will fall again starting next year.

The share of Americans who pay zero income taxes is expected to fall back down to 42% in 2022 and remain at around 41% or 42% through 2025, “assuming the economy continues to rebound and several temporary tax benefits expire as scheduled,” Gleckman said.

Tax Delinquency

Owing the IRS is more common than you might think: 17 percent of federal taxes go unpaid each year. This is often under-reported in comparison to other types of debt, like credit cards and student debt.

The Internal Revenue Service (IRS) reported that at the end of the fiscal year 2021, there were 10.2 million delinquent taxpayer accounts. Some of the top reasons cited include tax liabilities being more than expected; in addition to unfiled taxes and divorce.  

It is likely that the number of delinquencies will grow as the gig economy continues (rideshare drivers, freelancers, contractors) and with cryptocurrency enforcement expected to rise.

Consider these five tax resolution statistics:

Learn why tax resolution is a highly profitable and recession-proof business! Book a demo today.

[irssolutions]

The Real Truth: A Tax Resolution Software Comparison

Whether you’re a rockstar accountant or a rocket scientist, professional success depends on having the right tools for the job. For modern financial and legal experts whose practices focus on tax resolution, that means an investment in specialty software that will support your work seamlessly, effectively, quickly, and affordably.But, with several products competing for your business, how do you know which offers the best service at the best price?  You'll probably conduct sector research, looking at IRS Solutions, Canopy, irsLogics, PitBullTax, and Tax Help Software, making a tax resolution software comparison before committing. This blog post will make that investigation easy for you and – as always! – help you save valuable time that would be better spent elsewhere. 

 

What sets IRS Solutions apart from other tax resolution software?

When you’re choosing software to support your tax resolution business, the question you want to ask is not whether Canopy, PitBullTax, Tax Help Software, or irsLogics can get the job done. To differing degrees, they all can. Instead, the question you want to ask is: “How complete is this package, and what will the return on my investment look like?” Each company offers a package that is useful in its own way, but none is as comprehensive as IRS Solutions. There are many critical differences. Let’s look at just a few:

Information Management: At IRS Solutions, we know that tax resolution software has to prevent your business’s information load from turning into informationoverload. That’s why document, calendar, and task management modules are built into the software and included in your membership.  Canopy and PitBullTax offer these features as well, but as add-ons that require additional fees.

Data Security:The secure storage of personal and business information is a real hot-button issue these days. At IRS Solutions, we take your security seriously. Documents are kept secure through the Amazon Web Services Government Cloud (AWS GovCloud). Tax Help Software data is stored on users’ computers, leaving them vulnerable to hacks, viruses, crashes, and theft.

Marketing Support:Even tax resolution specialists, who typically generate more income in fewer hours than their peers who focus on other areas, have to work at keeping their business visible. That’s why membership in IRS Solutions includes access to a marketing toolkit containing social media posts and prospecting letters that you can use to cultivate relationships with other businesses—considering another option like irsLogics? Don’t look for a similar feature. You won’t find one.

Training Classes: Deciding on a software package is just the first step. Once you make a choice, you’ll want to get your staff up to speed as quickly as possible. At PitBullTax, that training comes with an additional fee. IRS Solutions provides how-to classes on using our software. We also offer free members-only tax resolution and case study webinars. You'll also receive continuing education credit for these classes led by experts with the experience needed to answer your questions. irsLogics doesn’t offer their users any continuing education at all.

Frequently Added New Features:Because we are a company founded by industry professionals, IRS Solutions offers something that no other tax resolution software company can. We are plugged into what’s happening at the IRS. Our members benefit from our connections and experience every time they get CPE/CE credits by virtually attending one of our classes or getting the answer to a question in our Facebook group, but that’s not all.We don't just have members. We have relationships with our members.  They know they can call, email, or Facebook message any time to let us know if there is a feature that they would like added...and then we add it! The newest update is an audit monitoring system that will alert users to an upcoming audit after a client is flagged but well before the IRS gets around to generating a letter. Imagine how much your clients will appreciate your proactive approach and advance warning.

Make your own tax resolution software pricing comparison.

Pricing is where you’ll notice the most significant differences between the companies that offer tax resolution software options. When you take a moment to do a side-by-side analysis, what you’ll observe is that one company stands out for its generous, all-in-one approach to pricing.IRS Solutions builds everything you need into your monthly membership rate. Other companies take a different approach, charging extra fees for critical services or increasing your charges based on the number of cases you have in the process.

Canopy: Canopy’s pricing is the most complicated on the market. It’s module-based and varies according to which features you select, how many contacts you have, and how many cases you’ll be working on. This model is somewhat less surprising when you know that, unlike IRS Solutions, the company is owned by venture capitalists who have never worked in tax resolution. IRS Solutions Software is a family-run business operated by former Revenue Officers and Enrolled Agents.

IrsLogics: If access to an easy-to-use client portal and member support is essential to you, irsLogics probably isn’t your best choice. Unlike IRS Solutions, which makes these features available to all members, at irsLogics, they are only available to those who opt to pay premium rates. 

PitBullTax: Your bills can really pile up at PitBullTax. Get ready to pay more for some features you can’t work without. We know that you can’t serve your tax resolution clients without access to their IRS transcripts, which is why that access is included with your membership at IRS Solutions. Over at PitBullTax, that same access will cost you nearly $35 per user each month. You're also blocked from their software’s CSED calculation tool without paying that fee. That necessary feature is also included for all users at IRS Solutions. Finally, PitBullTax also charges $10 per month for access to 3 state POA forms, of which only four are available to choose from. More than 20 state POAs – including New York and California – are included with your IRS Solutions membership, with more being added all the time.

Tax Help Software:You’d better already know what you’re doing and be ready to commit if you sign up for Tax Help Software. Unlike IRS Solutions, which offers a step-by-step plan listing all the steps you need to move your client’s tax resolution case forward to an Offer in Compromise (OIC) or Currently Not Collectible (CNC) status (including the engagement letter, pre-filled and editable POA form, and more), Tax Help Software offers no such guidance to help you. The company also offers no free trial. This is a stark contrast to the generous 60-day money-back guarantee you’ll enjoy at IRS Solutions. 

Acting on the Results of Your Tax Resolution Software Comparison

You’ve done your homework and have the information you need to take the next step. Now it’s time to enjoy a 30-day trial of IRS Solutions, a tax pro’s best friend. So let’s connect and get you started. Schedule your free demo today.

[irssolutions]

7 Best Tax Resolution Software Tools to Impress Clients

You’ve got dozens of clients and they’ve all got different needs. Many financial and legal professionals have developed their own methods of managing tasks and deadlines to keep track of everything and get it all done on time. These quirky systems often involve multiple to-do lists, whiteboards on every wall, and sticky notes everywhere.

 Does that sound familiar? If so, you’ve probably learned the hard way that, while using a system like that might appear adequately functional, it’s actually an extremely precarious and stressful way to work. One slip-up and the whole thing comes crashing down. The experts who use IRS Solutions to manage their tax resolution department have found a better way.The best tax resolution softwareincorporates multiple reports and functionalities to streamline client services. Here are seven reports, functionalities, and tools that will help you save timeandboost client confidence and satisfaction:

1. Transcript translation into simple-to-read reports

Familiarizing yourself with a client’s IRS history is a breeze when the records you need are just a click away. The powerful IRS Solutions API puts years of documentation at your fingertips.Access, download, and print all of your client transcripts in a matter of seconds, including:

Account transcript summary report

Collection Statute Expiration Dates (CSED) report

First-time penalty abatement eligibility report

Earliest dates for bankruptcy dischargeability report

Penalties & Interest assessed and accrued report 

Lien filed & SFR indicators report

Audit Monitoring report

Wage and Income transcripts for up to 10 years

Tax return transcripts for back years for up to 3 years

2. Bulk Transcript Downloads

Get ready to say goodbye to time-consuming one-by-one client status searches and the chaos created by a lack of timely updates.Every time you connect to e-Services through IRS Solutions, the ultra-fast API will connect with the IRS and notify you of any changes to your client transcripts. You’ll get push notifications of updates including possible audits, possible First Time Abatement opportunities, acknowledgment of CAF approval, warning that the IRS has certified a passport as seriously delinquent, and so much more...for all of your clients at once!

3. Automated Tools for Calculation

Remember when you used an adding machine or even a pencil and paper for computation? The calculator revolutionized accounting decades ago. Now,the IRS Solutions automated calculators are transforming office life for tax resolution specialists. Here are just a few examples of what the best tax resolution software can calculate for you:

Solutions recommendations (433 summaries) – The software will analyze options (installment plan, OIC, and Currently Not Collectible status) and will make a recommendation that you can share with your client.

Offers in Compromise – Use our built-in calculator to help you determine the figure that is both client-friendly and most likely to be accepted by the IRS. 

Bankruptcy discharge dates – Once you download your client’s IRS transcripts, the system will identify the earliest date taxes may be discharged in bankruptcy and will warn you of possible reasons the tax year may not be dischargeable.

4. Simple Solutions for Offers in Compromise

Guiding a client through the OIC process is a routine job for tax resolution specialists but the process is complex and success can be elusive. The acceptance rate of Offers in Compromise has hovered around 30% in recent years. While .300 might be a pretty good batting average for a ball player, it means that the odds are stacked against your submission to the IRS. You’ve got to do everything you can to increase the chances of a favorable outcome. 

With IRS Solutions, preparing Offers in Compromise is simple. The process can looklike thisinstead of your cumbersome old system:

Log in.

Select the client from your roster.

Select Offer in Compromise from the preset list of tasks. All the necessary steps are right there for you. Many of those steps, such as an Engagement Letter, Power of Attorney, and IRS Form 433 link directly to documents that are preloaded into IRS Solutions for you. All you have to do is complete the data input sheets (or get your client to do it through their personal portal that is included in the software) and the forms will be automatically populated for you. Plus you can easily switch from Form 433-A to Form 433-A(OIC) with a touch of a button. Don’t need all the steps this time? No problem. That task list can be individualized for each case.

Add a due date and you’re done. Your task will auto-populate and you’ll see it in two places – in your client center and in your control center.

5. CSED Support

The IRS has 10 years to collect the balance due on a tax account. Data shows that the more time that goes by, the less likely it becomes that the IRS will take action. You can use this information to your client’s advantage, but you need to know that certain actions, such as submitting an OIC application, will stop the clock on those collection statute expiration dates (CSED).IRS Solutions calculates CSED expiration dates each time you download an account transcript. There is no additional cost for this service. It’s included in your membership fee. 

6. Elegant Communication

Understanding the forms and jargon around tax resolution is no problem for you but you’ve seen how overwhelming it can be for a client who’s already dealing with the anxiety of a tax issue. Serving clients in crisis means that tax resolution professionals do a lot of hand-holding. Instead of allocating this time to revenue-generating tasks, you end up spending it explaining complex IRS transcripts to stressed clients.IRS Solutions helps you share information with your client or their bankruptcy attorney by transforming transcripts information into beautiful built-in reports that are easy to read and easy to understand. Unlike some of our competitors, who charge extra fees for access to these reports, we include them in your monthly membership fee.

7. Client Portal

You aren’t the only one who can log in to IRS Solutions.Your clients will have login credentials of their own so that you can easily exchange information via our client portal, white-labeled with your brand at no additional charge. Clients can add information, complete forms, and safely upload sensitive documents, all protected by the Amazon Web Services government cloud (AWS GovCloud).

Try the Best Tax Resolution Software

How could using IRS Solutions transform your professional life? Let’s find out together.Schedule your demotoday.