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The Tax Pro’s Role Amidst the Pandemic

The Tax Pro’s Role Amidst the Pandemic
July 21, 2020 SDC Design
Accountant using her Marketing Toolbox to help her client

As the IRS attempts to resume business as usual, departments that were shut down due to the pandemic are now faced with the repercussions of their absence. In fact, the IRS prepared over 20 million notices that couldn’t be mailed during the pandemic. When the floodgates open, months of paperwork and unprocessed collection cases are expected to hit taxpayers like a storm. Tax professionals will be key in helping clients weather this downpour and survive the fallout of the coming months. Your role is critical to your clients and their friends and family members now more than ever.

Offer Taxpayers Help with IRS Communications

Cases that were in negotiations prior to the closures are now stuck in a bottleneck waiting to be processed or updated. For taxpayers who are now required to resume paying installment agreements, unemployment only compounds their mounting stress. Taxpayer assistance lines are shut down, as are mail processing centers. Right now, there are millions of people who have no means of communicating directly with the IRS and are desperate to figure out what to do next when it comes to their finances.

Your experience as a tax resolution professional is a lifeline for those who are struggling. Using your direct access to the IRS through the Practitioner Priority Services Line, you can get answers they can’t find anywhere else. People need your help and teaming up with IRS Solutions, you can offer exactly the services they need.

Offer Businesses Help Navigating the CARES Act

Individuals aren’t the only clients in need. The IRS has been allowing businesses to put their payroll taxes on hold to meet expenses during the shutdown. As those holds are lifted, many are going to need help deciphering what taxes they owe and how to pay.

The CARES Act offers provisions such as the Employee Retention Credit and authorizations to use operating losses to offset prior years’ taxable income. But drawing up complicated financial models to make sure they’re only paying the taxes they truly owe will not be within their abilities. Your help in resolving those issues will not only keep small businesses afloat, but will greatly expand your own business potential.

Network and Offer Help to Bankruptcy Attorneys

The levels of unemployment and business closures are unfortunately pointing to a larger-than-normal pool of bankruptcy cases in the near future. Bankruptcy attorneys are going to need your help determining which taxes can be discharged and which cannot, especially with IRS communications at a standstill. That’s why we’ve added an important resource to your Marketing Toolbox: a pre-written letter that you can customize and send to bankruptcy attorneys in your area. We highly encourage you to reach out and establish a mutually beneficial relationship with practices now to prepare for these inevitabilities.

How IRS Solutions Can Help You

In short, we are part of your rescue team. IRS Solutions Software gives you all the tools necessary to help your clients now and always. Our team of experts is ready to be your support system as well. Members are invited to call us with questions regarding specific cases, join our members-only Facebook group, and tune in for our monthly case study webinars. IRS Solutions is more than a tax resolution software. We are a community dedicated to your success and we’ve got your back during these challenging times.

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