Facts That You Need To Know About The IRS Tax Resolution Software
One thing that you should already know about the Internal Revenue Service or the IRS is the fact that they enforce the collection of income taxes. However, in recent years, a lot of people have been reported to owe large sums of taxes to the IRS. Having that said, you should know that it means trouble to owe the IRS that kind of money. For this matter, it’s essential that they get the necessary help that they need. In this case, hiring a tax attorney or a CPA is a pretty common occurrence. They have the legal position to represent their clients to the IRS. These professionals will also be the one to make proposals to the IRS such as the Offer in Compromise, Injured Spouse Defense, Collection appeal and some more.
If you’re one of these professionals, you should know of the ways to help out your client. The Offer in Compromise also makes a great choice when it comes to helping your client. This is because the Offer in Compromise can give a huge discount to the client. Still, you should know for a fact that this choice still has pros and cons. Choosing the offer in compromise basically means that the client has the chance to lower their tax liability by a huge percentage. The only downside for this one is that the client must provide complete access to the information about their assets to the IRS. Also, you have to know that taxes are always monitored with the IRS tax resolution CRM. Although this offer is the ideal for the client, it’s important to keep in mind that the IRS tends to reject this. Informing their clients of that kind of result is the representative’s responsibility. This is also needed to prepare their clients for any surprise visits from the IRS.
If you want to be able to represent your client properly, then you should know everything about the facts of Offer in Compromise. The IRS usually have an 80 percent decline rate when it comes to this kind of offer. That said, the challenge comes with ensuring that your client will be among the 15 to 20 percent. This is where the usefulness of the tax resolution software comes in. Being able to accurately analyze the situation of your client is one of the most useful functions that the tax resolution software can provide. Being able to help your client to the best of your ability is necessary which is why you’ll want to make sure that you can utilize the tax resolution software in addition to your knowledge as a CPA or tax attorney.
Manually preparing the Offer in Compromise is still quite common these days, unfortunately.