A complete guideline about Tax Resolution
What is Tax Resolution?
The word “tax resolution” refers to a variety of services that assist taxpayers who have ran afoul of the IRS. Tax settlement services, also known as IRS representation, tax problem recovery, or tax controversy, are in high demand. Assistance with Offers in Compromise, lien and levy relief, penalty abatement, and more are among the services available. Later, we’ll go over the various sorts of tax resolution in greater depth.
Have you been confronted with the IRS collection process? Optima Tax Relief is here to assist you. We can assist you in resolving IRS tax liability and dealing with the associated penalties. Our skilled team is ready to assist you with a variety of tax resolution options. We can give the expert advice, assistance, and counsel you need to handle the IRS successfully. Our sole aim is to resolve your IRS issues and restore your good status.
Why You Should Offer Tax Resolution
There are a number of compelling reasons why tax professionals across the country are increasingly providing tax resolution services, but let’s look at the top three.
Do you want to boost your revenue by 8-23 times? Add tax resolution to your list of services. Tax preparation pays only $21.43 per hour on average. The cost of tax settlement, on the other hand, ranges from $175 to $500 per hour.
3. Increased Satisfaction
It’s tough to quantify something like contentment, even in a business where numbers are everything. Tax resolution work, on the other hand, is nearly universally agreed upon among tax professionals as being significantly more fulfilling (not to mention less tedious) than tax preparation.
If three reasons aren’t enough, we have an ebook with a few more to give.
How to Start Offering Tax Resolution Services
It’s not difficult to become certified to represent clients before the IRS and provide tax resolution, especially if you’re already a certified enrolled agent, CPA, or attorney. Let’s look at the four steps to get qualified to provide tax resolution services.
Become an Enrolled Tax Preparer
To legally represent your client, you’ll need to fill out IRS Form 2848 and receive your client’s power of attorney (covered in more detail below). The IRS will only award power of attorney to enrolled agents, CPAs, and attorneys, therefore your first step should be to obtain the appropriate professional qualification. If you’re not already a CPA or lawyer, becoming an EA, which doesn’t require any further education, is definitely your best option.
Get Your CAF Number
When you file Form 2848 for the first time, the IRS assigns you a CA number, which is a nine-digit number (power of attorney). The IRS uses this number to keep track of your requests for client information like transcripts.
Simply enter “none” in the space allocated for your CAF number on your first 2848, and the IRS will send you a letter with your CAF number. You will only need to apply for a CAF number once, and you will utilize that number for all future cases.
