If you are a discerning buyer - and want to make sure that your tax professional is truly doing their job - here's what you should expect in the first 30 days of business:
1. Power of Attorney is on file. Your tax professional should have posted their Power of Attorney for you - so they can receive your mail and do all communication to the IRS on your behalf.
2. Record with IRS is researched. Research is the first and most important building block of tax resolution. Your tax professional should have determined: A. exactly what you owe B. when your tax is going to expire C. what returns are unfiled D.what returns should or shouldn't be filed. E. where you stand in the collection process.
3. Tax returns are being prepared by staff or by client. Once it is determined - what returns need to be done - and which ones do NOT. Either the client is in action and has the information and some guidance to do the returns OR the tax returns are done by the tax professionals.
4. Analysis and Sketch of Tax resolution plan articulated. Within a couple of weeks, staff members should be able to determine - how the case is going to play out. Whether a questionnaire needs to be filled out for a financial statement. Whether a payment plan, an Offer or uncollectible status is going to be pursued for the client. Yet even so - that still might be vague at this point - what is more important in the early part of the case is....
5. IRS Collections on Hold or IRS Letters are analyzed to Determine Action. Getting levied after hiring a tax professional is the worst. You and your tax professional should make sure that all letters from IRS have been analyzed and if necessary, a "hold" has been placed by your tax professional to buy you time to do a financial statement, tax returns, etc.
