Never before in history have so many people owed the IRS such staggering amounts of taxes. They need help now and are willing to pay sizeable fees to alleviate their pain! If you are a CPA, Enrolled Agent or a Tax Attorney you can represent clients before the IRS and help them settle their liabilities by means of different instruments, such as an OIC (Offer in Compromise), Installment Agreement, Innocent or Injured Spouse Defense, Collection Appeal, CDP (Collection Due Process) etc.
The most attractive instrument of it all is an Offer in Compromise, because it is sometimes possible to decrease your client’s tax liability at an enormous discount. It does have a few pros and cons though. The chance of writing off tax liability from let’s say $50,000 to a few hundreds of dollars is there, however it also involves a risk of disclosing all your asset information to the IRS. And let me tell you, the IRS machine does not sleep. If you submit an offer and it is rejected, make sure you let your client know to expect a knock on the door soon thereafter. Another pitfall of an OIC is that only about 15-20% of the submitted offers are getting accepted by the IRS. So what do you do to get into the 15-20% group? You use not only your brain cells, but also engage a software that provides analysis, diagnoses IRS tax problem of your client, evaluates if your client is a candidate for an OIC and then helps you in preparing all necessary forms.
Recent survey shows that most representatives in the United States still prepare OIC and other resolution cases manually, that is, literally, using brain, pencil and calculator. It takes a lot of time to prepare a successful case and back up your rationale with all necessary documentation. So why not use a cloud computing software which lets you automate the process and saves you tons of time and money? Until recently there was no such software developed for tax resolution representatives.
This new software was developed specifically for CPAs, EAs and Tax Attorneys, i.e. for privileged group of professionals authorized to represent clients before the IRS. This software has tools to evaluate your client’s eligibility for an offer in compromise, analyze the case and find the best resolution approach, estimate how much to charge for a resolution case. Also the software prepares all necessary resolution forms, like 433-A, 433-B, 656 and 20 other forms. The calculation process is completely automated, all formulas are built-in and results are updated on-the-fly once you change values. Throughout the whole process you can find tips, suggestions and advice on how to better answer questions on the IRS Forms. There is no need to create supplementary schedules any more, the software does it for you. Besides, you can annex any additional notes to every single line on the IRS Form and these notes will be printed and attached to your case. There is much more to discover about this cutting-edge revolutionary software. It is called PitBullTax Software. This is it! The secret to earning lucrative IRS Collection Resolutions fees.
Tags: Collection Appeal, Collection Due Process, Injured Spouse Defense, installment agreement, IRS Collection Resolutions fees, offer in compromise
