Need a New Service Line? Consider Tax Resolution

Money tree growing in the middle of green meadowBONUS: An overview of the process.

By Jassen Bowman

With over 14 million active IRS collections cases, there is a tremendous need for competent taxpayer representation. There has never been a better time to add this highly lucrative, recession-proof service to your tax practice.

MORE ON TAX RESOLUTION: How to Maximize CRM System Tags | 10 Steps to Setting Up Direct Mail | Process Communications Efficiently | Suggested Tax Resolution Client Payment Guidelines | Basics of Tax Season Work Flow | When to Follow Up on Prospects | Checklists for New Lead Generation | Client Management Checklists for Tax Resolution | How to Handle Client Complaints
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In fiscal year 2015, the IRS opened 8.1 million new collections enforcement cases, while only closing 7.1 million cases. Altogether, these taxpayers owed the IRS over $137 billion. That’s more than twice the entire annual budget for the U.S. Department of Education.
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Suggested Tax Resolution Client Payment Guidelines

Remember who you’re dealing with.

By Jassen Bowman
Tax Resolution Systems

Let’s put this right out in the open: Your livelihood in the tax resolution business is coming from individuals and businesses that OWE MONEY to the government, and, more than likely, are behind on payments to other creditors, also.

MORE ON TAX RESOLUTION: Checklists for Tax Resolution Sales | Quoting Tax Resolution Fees | 12 Rules for Phone Calls | Don’t Ignore Your Existing Leads | The Ins and Outs of Hiring and Firing | Market to Your Ideal Clients | One-Step vs. Two-Step Marketing | Tax Resolution: A Lucrative Opportunity
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In order to protect yourself and your firm, it is important to have client payment procedures in place and ENFORCE them so that you don’t do a bunch of work for free or become just another creditor that the taxpayer owes money to.
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Checklists for Tax Resolution Sales

Includes consultation questions.

By Jassen Bowman
Tax Resolution Systems

After marketing, your next most important job is sales. Sales and marketing are intimately connected, because the leads you generate and nurture through marketing become the prospects you sell to in the sales process.

MORE ON TAX RESOLUTION: Quoting Tax Resolution Fees | Basics of Tax Season Work Flow | When to Follow Up on Prospects | Checklists for New Lead Generation |Client Management Checklists for Tax Resolution | How to Handle Client Complaints | Case Study: Building a Tax Resolution Business | Marketing Requires Ruthless Accountability
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Most tax professionals dislike the idea of seeing themselves as salespeople. However, you need to accept the fact that if you can’t close a sale, you’re going to be broke, no regardless of your statewide high score on the CPA exam, regardless of the prestigious law school you went to, regardless of any other certifications you’ve earned. If you don’t sell, you don’t eat.
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Quoting Tax Resolution Fees

5 scenarios with fee quotation breakdowns.

By Jassen Bowman
Tax Resolution Systems

One of the most common questions I get from practitioners adding tax resolution services to their service offerings has to do with fees. Many practitioners see the benefit of offering flat-fee service options, while others choose to stick with their existing hourly fee model.

MORE ON TAX RESOLUTION: Basics of Tax Season Work Flow | Overcome Objections in 7 Steps | How to Reactivate Lost Clients | Don’t Ignore Your Existing Leads | Some Office Nuts and Bolts | The Importance of Goals and Affirmations | Market to Your Ideal Clients
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These are some example of how I quote fees when running a high-volume tax resolution practice. These scenarios do not represent any one particular client I’ve had. Rather, they each represent dozens of similar situations I’ve worked on. These scenarios are the norm if you’re focusing on 941 representation. For completeness, I’ve also added a 1040 scenario as an example.
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MarTech for Accountants: Maximize Your CRM System Tags

Businessman with laptop and papersYou also can combine them in searches.

By Jassen Bowman
Tax Resolution Systems

Most CRM systems rely heavily on using tags for group and categorizing contacts.

MORE ON TAX RESOLUTION: 10 Steps to Setting Up Direct Mail | Use 24-Hour Lines for Leads | Measure Your Business Metrics | Checklists for Tax Resolution Sales | Overcome Objections in 7 Steps | How to Reactivate Lost Clients
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The following is one suggested system for organizing and tagging your contacts. Modify this to meet your own needs and practice goals.
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