The Lucrative World of IRS Collections Representation
Are you a licensed tax professional looking to elevate your practice and transform your financial future? Look no further! The world of IRS Collections Representation is calling, and it’s time to answer. Let’s dive into the goldmine of opportunities waiting for you, backed by hard data and real-world success stories.
The Numbers Don’t Lie: A Sea of Opportunity
The latest IRS Data Book paints a picture of immense potential. As of the end of fiscal year 2023, there were over 11.3 million taxpayer delinquent accounts, with a staggering $158 million in assessed taxes, penalties, and interest. That’s not just a statistic; that’s a clarion call for professionals like you to step up and make a difference!
But wait, there’s more!
Add to that 2 million cases of delinquent return investigations, and you’re looking at a vast ocean of clients who desperately need your expertise.
The Math of Success: Your Ticket to Financial Freedom
Let’s break it down:
- Average case value: $4,000 to $5,000 (a low of $2-3k or as high as 6 figure fees to you, depending on the case)
- Time investment: 7-8 hours per case (some as low as 2-3 hours or 10-20 hours, but can be more depending on the case)
- Potential hourly rate: $500+ (but please note, we do NOT bill by the hour)
Imagine adding just one case a month to your practice. That’s an extra $48,000 a year, minimum! But why stop there? With the right systems and support, you could be looking at hundreds of thousands, if not millions, in additional revenue.
Beyond the Numbers: The Joy of Making a Difference
This isn’t just about money. It’s about transformation – yours and your clients’. By stepping into IRS Collections Representation, you’re not just changing your financial trajectory; you’re becoming a lifeline for people drowning in tax debt.
Picture this: A client comes to you, stressed and overwhelmed. You guide them through the process, perhaps securing an installment agreement or even an offer in compromise. Suddenly, they can breathe again. That’s not just a service; that’s life-changing impact.
The Time is Now: Seize Your Destiny
The market is ripe. With only about 50,000 tax professionals handling these cases, there’s more than enough work to go around. In fact, the current caseload far exceeds what any individual can handle alone.
But here’s the kicker: As more professionals enter this field, the opportunity window narrows. Will you be ahead of the curve or left behind? Oh, and this type of work is really recession proof. In fact, the worse the economy gets, the more cases there are.
Your Path to Excellence: Work Smarter, Not Harder
Adding IRS Collections Representation to your practice isn’t about working more hours. It’s about working smarter. Here’s how it transforms your professional life:
- Higher Value Work: Move from routine tax prep to high-impact, high-reward cases.
- Efficient Systems: With the right training, you can streamline your processes, handling cases more effectively.
- Scalable Practice: As you grow, bring in licensed staff to multiply your impact and earnings.
- Diversified Income: Reduce the seasonal stress of tax prep by adding year-round, lucrative work.
The Tools for Success Are Within Reach
You don’t have to navigate this new terrain alone. Resources like the Tax Resolution Academy® offer comprehensive training, providing you with:
- Strategies to find and close high-value clients
- Systematic approaches to case management
- Checklists and cheat sheets to ensure nothing falls through the cracks
- Techniques to garner glowing testimonials and reviews
Your Clients, Your Cheerleaders
Imagine a practice where clients don’t just pay bills – they sing your praises. IRS Collections Representation clients often become your most vocal advocates. Why? Because you’re not just preparing a form; you’re rescuing them from financial distress. These satisfied clients become a powerful marketing force, driving referrals and solidifying your reputation as a tax professional who goes above and beyond.
The Tony Robbins Moment: Unleash Your Potential
Now, let me speak to you as Tony Robbins would. You have greatness within you. The skills, the knowledge, the passion – it’s all there. What’s holding you back? Fear? Uncertainty? It’s time to push past those limitations. Every great success story starts with a decision. A decision to step out of your comfort zone. A decision to believe in your potential. A decision to serve at a higher level. You’re not just a tax preparer. You’re a problem solver, a life-changer, a beacon of hope for those drowning in tax debt. It’s time to step into that role fully.
Your Call to Action: Take the Leap
The data is clear. The opportunity is real. The tools are available. All that’s missing is you taking that first step.
- Educate yourself: Dive into IRS Collections Representation training.
- Start small: Take on one case and experience the difference.
- Build systems: Create processes that allow you to scale efficiently.
- Spread the word: Let your network know about your expanded services.
Remember, every journey begins with a single step. Your step towards a more fulfilling, lucrative, and impactful tax practice starts now. Are you ready to transform your practice, your income, and your clients’ lives? The world of IRS Collections Representation is waiting. It’s your time to shine. Take that step today, and watch as your professional life transforms in ways you never imagined possible.
If you want to know more consider joining the Tax Resolution Academy® by clicking this link
I hope this helps.
If you have any questions, please reach out to us.
I would love to hear your thoughts, challenges, and successes in writing your very own book.
Have a GREAT day,
Cordially,
Dan
Dan Henn, CPA, CTR™
Co-Founder, Tax Resolution Academy®
Managing Member
Tax Pro Academy, LLC
P.S. Want to learn more about the Tax Resolution Academy®, go to https://community.taxresolutionacademy.com.
P.P.S. Check out our CPE classes here! Click the link to Follow our page and you will be notified when we release new classes.
P.P.P.S. Looking to attend the most exciting and transformational marketing conference of the year. Check out the TPPME 2024
Listen to the IRS Whisperer Podcast for a better discussion on this topic.
Ep 12, S 2 – Is there enough work for licensed tax pros to take on IRS Collections cases? Heck Yeah!
