Category Archives: 20/20 Tax Resolution

20/20 Attends the 2015 Nationwide IRS Tax Forum

On July 29, 2015, 20/20 Tax Resolution’s Vice President, David Miles, EA, and Senior Associate, M. Anita Ward, EA. were in attendance of the 2015 Nationwide IRS Tax Forum in Denver, Colorado.  Taking place in the Hyatt Regency Denver at the Colorado Convention center, the forum featured a full agenda of the latest tax law information which covered key federal and state tax issues from the IRS and leading industry experts.  On top of that, the event provided numerous networking opportunities and exhibits featuring the latest products and services for those in tax preparation and representation industries.

The 20/20 team helped to run the National Association of Enrolled Agents (NAEA) booth.  Throughout the day, they were able to successfully promote the Enrolled Agent (EA.) designation while simultaneously informing the tax professionals in attendance of the forum about the valuable resources offered by the NAEA.  Staying abreast of IRS updates, advocating for sensible and more permanent changes to the tax code, and providing a forum for EAs to have technical questions answered by other EAs were just a few topics that were covered by 20/20 representatives throughout the course of the day. 20/20 Tax Resolution is a proud partner of the NAEA and was excited to be able to attend such a great event!

The Beginners Guide to Collection Representation

20/20 Tax Resolution’s Vice President, David Miles, EA, was recently published in The National Association of Enrolled Agents (NAEA) July-August 2015 bi-monthly publication, EA Journal.  This prestigious publication allows members of the NAEA to stay up-to-date on any industry trends, tax updates and association news.

In the article, The Beginner’s Guide to Collection Representation, Miles focuses on the nuances that go into effective collection representation work.  He explains that the goal of this piece is to, “give practitioners just beginning in collection representation the tools necessary to build a solid foundation of their practice. This foundation is critical to ensuring proper representation for taxpayers while practitioners continue to gather experience over time.”  

This will be the fourth time in the last five years that Miles has been published in the EA Journal.  Click here to read the full article.

Your Unique Tax Resolution Strategy

Once you’ve taken the first step and hired a representative to help you negotiate your tax debt, he or she should conduct a thorough examination of your financial situation before proceeding with a set resolution strategy.

At 20/20 Tax Resolution, this initial examination begins immediately after you hire us. Your representative will schedule a conference call with you and anyone else that you’d like to be involved (CPA, Attorney, significant other, etc.) to discuss your current financial situation as well as your expectations for a resolution. During this conversation, your 20/20 representative will ask you questions about you or your businesses financial condition so that he or she can assess the correct strategy for your situation. Additionally, your representative will be able to understand the desired outcome(s) that you expect during your relationship with our firm.

Keep in mind, any authorized representative can propose a cookie cutter resolution strategy based on your financial state. However, at 20/20Calculator Tax Resolution we strive to understand what our clients need and want out of the relationship while simultaneously addressing any concerns.

The reality is: every situation is different. Some clients are worried about the IRS taking aggressive action, while others have had a history of dealing with aggressive action and are not necessarily worried about the threat of a levy. There are clients who are looking for additional time in order to file their returns, and there are those that want a resolution on the debt immediately through a payment plan or compromise.

At 20/20 Tax Resolution we take the time to understand your entire tax debt situation, not just the black and white reality of numbers on a page. We pride ourselves on this personalized approach and hope that within the first 24 hours of our representation you are able to see that clearly.

Hiring a Representative: the Power of Attorney

Power of Attorney As soon as you make the decision to hire someone to represent you in from of the IRS or state, things should start to more pretty quickly if you’ve brought on an experienced and reliable representative.

The very first thing any representative should do when working on a case is to get a signed Power of Attorney (POA) over to the IRS. This allows the representative to contact the IRS on your behalf and discuss your situation with whomever is in control of the case – whether it be Automated Collections or a Revenue Officer. One major thing to note is that many companies pre-populate a Power of Attorney form for you to sign even before you decide to hire them. This is a big no-no. Ultimately you will have an individual who is licensed at that company represent you, but if you receive a blank Power of Attorney, you will not know who your representative is until after they have signed the form. You should always be the last one to sign a Power of Attorney so that you know what tax periods the document covers and who your representative is.

If you hired a representative and you haven’t received a signed Power of Attorney with the tax periods indicated on the first page within the first 24-48 hours after your decision, you may want to rethink who you want representing you.

Two Simple Questions

The moment a tax issue is brought to your attention, you begin to notice the television ads. And if you’ve had a state or federal tax lien, you definitely have received phone calls with offers to help you resolve your tax debt situation.

What’s important to note is that you can tell a lot about a company and their ability to represent you by asking these two simple questions during that first call:

Question 1: Are you yourself licensed to practice before the IRS?

If you are talking to a company about your tax liability and their representative is diagnosing your situation and describing what they’ll do to help you, wouldn’t you think they would have the proper credentials to negotiate your liability themselves? Unfortunately, the majority of the individuals you speak with are unlicensed, commission based salespersons. Think of it like this: would you get a medical diagnosis from anyone other than a licensed medical practitioner? Probably not. Keep in mind that the consultants at 20/20 Tax Resolution are licensed Enrolled Agents, so you know the advice you are receiving on that initial phone call is correct.

Question 2: Does it cost money to evaluate my case? 

Many companies that advertise on television are paying you for information when you respond to their ad. This means they need to recoup that money whether you hire them or not. There are some companies that charge a large fee just to speak with a consultant. In many cases, you end up paying an unlicensed salesperson to simply tell you what they can do for you – which may or may not be accurate information. Remember, all initial consultations at 20/20 Tax Resolution are completed free of charge.

We understand that the world of tax resolution can be incredibly confusing, but if you’d like to hire a tax resolution company you can easily weed out many by asking these upfront questions. At the end of the day, if they aren’t licensed and it costs money to speak to them, think twice about proceeding.

 

20/20 Attends Colorado NCPE 1040 Conference

On December 17th & 18th, 20/20 Tax Resolution attended the Colorado NCPE 1040 conference sponsored by PASC (Public Accountants Society of Colorado) where nearly 200 CPAs were present. The conference provided a great opportunity for team members from 20/20 to connect with CPAs from Colorado and surrounding states.

How can 20/20 Tax Resolution Help CPAs?

The team at 20/20 is comprised of knowledgeable, reliable and experienced attorneys and Enrolled Agents that have been providing tax solutions for both individuals and businesses across the nation since 1998.  Over the past 15 years, the company has negotiated more than 15,000 successful tax resolutions for clients and has worked to become a leader in the complicated tax resolution industry.

Because 20/20 Tax Resolution does not prepare tax returns, the company is able to focus on handling any IRS collection problem both efficiently and effectively.  Brian Biffle, president and founder explains, “20/20 is committed to maintaining an ongoing relationship with CPAs both locally and nationwide. By attending these events, we are able to learn about CPA’s issues as it relates to tax resolution as well as to provide them with our own insights into the world of the IRS Collection Division.”  These types of connections allow CPAs to focus on what they do best and refer clients with any tax debt issues to the tax experts at 20/20.

20/20 Celebrates 15 Years of Excellence

This August 20/20 Tax Resolution, a Broomfield, Colorado based tax resolution company, celebrates its 15 year anniversary. Founded in 1998, 20/20 Tax Resolution has devoted itself to providing exceptional, compassionate and comprehensive tax resolution services to businesses and individuals across the nation. Over the years, 20/20 has negotiated successful tax resolutions for over 15,000 clients, saving them untold millions and helping them to get back into compliance with state and federal tax agencies.

Since the company’s inception in 1998, 20/20 Tax Resolution has worked to become a leader in the difficult and confusing tax resolution industry. Brian Biffle, President and Founder of 20/20 Tax Resolution explained, “20/20 was founded to provide ethical and effective tax resolution services to businesses and individuals throughout the US. In an industry of noise, confusion and less than reputable representatives, we wanted to be a beacon of integrity and a leader in innovation.”

The company’s dedication to these principles is evident not only by their reputation within the industry, but also by the care and compassion they afford their clients. Rob Fineman, Vice President of Business Development, revealed one of his favorite memories from the last 15 years, “In helping out an elderly client with her tax issues, I found out that her husband was terminally ill. Helping her through not only her tax issues, but her husband’s health issues while seeing how 20/20 treated her with kindness and compassion helped me realize that I work at the best tax negotiation company in the country.”

Over the years, 20/20 has continued to hold true to these founding principles, which have set them apart from the competition. When asked to define what has elevated the company above their competitors, Richard Davidson, Vice President of Resolutions, answered, “Our commitment to excellence. It sounds like a cliché, but we hold all of our people to a higher standard than our competitors. We only promise what we can do and we always try and outperform our clients’ expectations. We are straightforward with our employees and let them know what’s going on. We try to treat people with respect and give them the tools to succeed.”

David Miles, one of 20/20’s Enrolled Agents and a 12 year veteran of the company added, “20/20’s success is the result of our employees. Our structure relies on strong, independent employees doing great work. Our management allows our employees to thrive on their own with their own style. It’s a remarkable thing in a company when two people can do a job very differently but because of equal success they’re both celebrated with equal regard.”

Looking ahead to the next 15 years, 20/20’s President, Brian Biffle said, “I don’t know what the next 15 years look like, but as far as the next five, I would say we will continue to improve everything we have created here and continue to be the leader in the industry for the foreseeable future, providing our clients great service, living a culture of success and enjoyment and giving the industry a company to emulate.”