As a licensed tax professional, you’ve already built a strong foundation by providing expert tax preparation, bookkeeping, payroll and/or planning services to your clients. But what if I told you that there’s an untapped opportunity to grow your practice, increase your revenue, and strengthen your client relationships?
By adding IRS Representation (Exam and Collections) to your service offerings, you can achieve all of these goals and more.
First, let’s address a common concern: you might be worried about the time and resources required to expand your services. However, the truth is that offering IRS Representation can be a seamless addition to your practice. With the right training and support, you can quickly acquire the knowledge and skills needed to effectively represent your clients before the IRS. It is not as time consuming as you think and you can earn CPE credit while you learn.
Now, you might be wondering, “What’s in it for my clients?” The answer is simple: peace of mind. When your clients face an IRS audit or collection issue, they experience significant stress and anxiety. By offering IRS Representation, you can step in as their trusted advocate, guiding them through the process and ensuring their rights are protected. This level of support strengthens your client relationships and positions you as their go-to resource for all tax-related matters.
Did you know that clients actually perceive IRS Representation as a much more valuable service than tax prep? Why, the tax return is the necessary evil, it has to be done, but with representation, they have to directly deal with the IRS. For many taxpayers that leaves them feeling scared, mad, upset and fearful of the boogeyman IRS.
Moreover, adding IRS Representation to your practice can lead to substantial financial benefits. Did you know that the average fee for representing a client in an IRS audit ranges from $2,500 on up? And for collection cases, fees can easily exceed $1,500-3,000 or more. This doesn’t even include the premium fees you can charge for unfiled tax returns, which happens often.
These additional revenue streams can significantly boost your bottom line, allowing you to grow your practice and invest in your future.
But the benefits don’t stop there. By expanding your services, you’ll also differentiate yourself from competitors who only offer basic tax preparation. This unique selling proposition attracts new clients who are seeking a comprehensive, one-stop-shop for all their tax needs. Additionally, existing clients will be more likely to refer their friends and family to your practice, knowing that you offer a full range of services.
In the end, adding IRS Representation to your tax practice is a smart business move that benefits both you and your clients. With the potential for increased revenue, stronger client relationships, and a competitive edge in the market, there’s never been a better time to expand your services. Your clients will thank you, and your bottom line will reap the rewards.
Want to get some great education! Then click here to find out more about the Tax Rep Defender Odyssey 2024, our next LIVE event taking place in Cape Canaveral, FL May 7-9, 2024.
