Tax Resolution is incredibly rewarding because you can make a huge difference in your clients’ lives while adding significant revenue to your practice with just a few cases per year.
The new tax year ushers in the release of new tax preparation software and apps that all promise to make filing your taxes fast and easy. As tempting as it may be to try out one of these programs, you also must wonder if doing so would be in your own best interest. You can choose between using a tax preparation program or app or hiring a tax pro to do your taxes by learning more about each option.
Normally, as long as you follow the rules and regulations laid out by the Internal Revenue Services (IRS), you shouldn’t encounter any issues with your taxes. However, on the off chance you stumble upon a tax dispute, you’d have to follow a set of guidelines in order to resolve it. This is what experts call tax resolution, and it’s perhaps one of the most grueling experiences you can have, to say the least. Not only is it time-consuming, but it also requires a lot of effort and mental power.
On the bright side, resolving the tax dispute yourself isn’t your only option. You can depend on someone else, like an accountant. Or you can rely on tax resolution software. While some may argue confiding with a human being is much better than trusting a program, that doesn’t change the fact that tax resolution software has its own perks. If you’re interested in the software option, the following benefits might come as quite a revelation.
1. You Can Save Money
Hiring a tax professional can be costly, especially if you’re doing so for the purpose of tax resolution. Generally, the price range of tax resolution services is usually around $3,500 to USD$4,500. This price only applies to individuals with no involvement in organizations.
If the tax dispute involves a business of some sort, the price would be higher. Of course, if you look hard enough, you may find services that only cost around $1,000, but that’s rarely the case.
On the other hand, purchasing and installing tax resolution software from an agency would only cost you $500 at most. In other words, by investing in a tax resolution program, you’re essentially saving money. This is one of the most attractive benefits of the software option, especially considering how your finances are probably already in a pinch due to the tax dispute.
2. You Get To Keep The Software
Apart from having a lower initial cost, you also get to keep the software for future use. This is a lot better than hiring a tax professional since you have to pay them each time you seek their assistance.
Furthermore, most software providers update their products regularly. Therefore, you can rest assured knowing that the software is compliant with any recent changes concerning tax disputes. This is yet another advantage over tax professionals where you can’t tell whether they’re IRS-compliant or not.
3. It Can Connect You To The IRS
Upon receiving notice of a tax dispute, it’s essential to contact the IRS so you can address the issue immediately. You should also provide your full cooperation to make the process go a lot smoother.
Fortunately, tax resolution software often has a feature that allows you to connect with revenue workers from IRS. With this feature, you can prevent any misunderstandings, leading to a rather speedy tax resolution process. This also means you can breeze through the process within a day or even hours, as long as you have all the necessary paperwork in front of you.
4. It Allows You To Send Documents Online
Due to the recent worldwide event, sending or filing paperwork online has become the standard procedure for the IRS. Normally, you have to go through their platform and fill out a few things before filing your tax resolution online. However, with the software, you should be able to do it right off the bat since no middle man is acting between you and the IRS, unlike when hiring an accountant.
5. You Can Access Your Tax Records Anywhere
Record keeping is an incredibly useful tactic when dealing with taxes, especially if you’re managing a business. If you stumble upon another tax dispute in the future, these records would come in handy. The beauty of tax resolution software is it allows you to keep your tax records in the database. This would mean you can access your tax records anywhere and anytime, as long as you have the necessary credentials.
6. It Minimizes The Possibility Of Errors
While relying on a human being certainly has its charm, it poses the risk of making an error, which can prove to be catastrophic, considering how you’re dealing with tax disputes. On the other hand, if you use tax resolution software, you can minimize or even completely eliminate the possibility of errors. After all, computers would only make an error if there’s a mistake in their programming.
The IRS is actually your marketing partner!
The IRS is not only filing liens and levies the old fashion way (by Revenue Officers and by ACS telephone collectors), but now they are being filed automatically by technology – do you think troubled taxpayers will need help more than ever?
Taxpayer’s with IRS problems will make one of four choices when dealing with the IRS:
- Pay the IRS 100% of what the IRS says they think they owe NOW.
- Ignore the IRS until they decide they have waited long enough for the taxpayer to deal with the problem and will now inflict serious harm by taking the taxpayer’s income and/or assets leaving them very little to live on.
- Set up a never ending monthly payment plan because the IRS keeps piling on penalties, interest, and interest on top of penalties. The accrual of all these extra charges often results in the balance due growing every month despite the taxpayer making his or her monthly payments.
- Reduce the total amount they owe to an affordable number with the help of a Tax Problem Resolution Specialist and get on with life.
As with many other products, no software has a one-size-fits-all solution to problems, no matter how effective it is or how much better it is from other options. The same may be true for tax resolution software.
Despite this, however, investing in tax resolution software may be generally better than hiring a tax professional because of its many advantages. It can save you money in the long run, connect you with the IRS, enable you to send files online, minimize any possibilities of errors in your dealings. Moreover, you get to keep the software so you can access your data wherever you are and at whatever time you may wish to.