How Is the IRS Tax Resolution Software Helpful to Tax Pros?
There are a lot of people who owe a large amount of taxes in the Internal Revenue Service and this has not happened in history before. These people need help badly and are willing to pay any amount just to get this trouble out of their hands. There are people who are knowledgeable enough to help them in dealing with this legally and among them are the CPA, Tax Attorney and Enrolled Agent who have studied how to take care of their liabilities by utilizing different materials such as the Offer in Compromise, Collection Appeal, Installment Agreement, Innocent or Injured Spouse Defense and Collection Due Process among others.
The most promising instrument that is being utilized nowadays is the Offer in Compromise since it is possible that the client’s tax slate will be wiped out clean and will have a big discount as well. Even if this is the most attractive instrument, it still has its negative and positive effects. If you are planning on having the amount of tax that you have to pay discounted, it is very possible for you to gain that but in return you would have to disclose all the information about all of your assets to the Internal Revenue Service. If you think you can get away with your taxes, then think again since the IRS machine is never asleep. In case someone in the IRS will be knocking at your client’s door, it would be best for him to know ahead of time and this is especially true if your offer will be rejected. Overall, it is apparent that only 20% of the total offers that are made for Offer in Compromise are being accepted by the Internal Revenue Service and this may be a big disadvantage for you. So how can you get into the 20% offers that are being accepted? Of course it is a given that you use your brain cells and also you can make use of a tax resolution software logic that can provide you with an analysis of your problem, a diagnosis of the tax problem that your client has in the Internal Revenue Service, and do an evaluation of the client’s possibility for the offer to be accepted and then giving out a form for the client to fill up.
According to a survey done recently, most representatives still prepare Offer in Compromise together with the other resolution cases manually which means that they are still doing it only with their brains, calculators, and pencils. All the necessary documents will be able to back up your rationale but you have to take a lot of time to prepare for a successful case. Therefore it is essential for you to use a tax resolution software logic that will save a lot of your time and effort in processing all the necessary requirements.