Initial Consultation with



Initial Consultation with ProspectDuring your initial consultation with the prospect, it is important to inquire about their current financials. You can either input this information into a customized excel spreadsheet or fill out a 433-A so that afterwards, you will be in a good position to advise on what the best possible solutions would be for solving their IRS issue. After introducing yourself and sitting down with the prospect, you want to ask them these questions:How much does the IRS say you owe?What kind of taxes do you owe? Income? Payroll?Which tax years are involved?Is there a seizure of your assets? (Bank levy, Wage garnishment)Have all your tax returns been filed? What years are delinquent?Have you received notices from the IRS? Can you provide these notices?Have you made any contact with the IRS? When was the last contact?Have you ever been on a payment plan with the IRS?What is your gross annual income?Do you have any other income sources that you did not mention?Do you have an IRA, 401K, or pension plan in your name?Do you own any real estate? What is the value? Any loans?Do you own a business? LLC, Sole Proprietorship, Partnership, Corporation?Do you lease any automobiles? Do you have any CD’s annuities, stocks, bonds, savings, or checking accounts?What are your monthly expenses? (Food, utilities, insurance, rent, car payment)Are you serious about doing whatever it takes to resolve this problem?Will you follow my recommendations?Are you willing to do the work required and be timely with gathering needed records?Are you prepared to pay our fee as agreed in the engagement letter?*Use national standards to calculate food, utilities, insurance, rent, car payment*After receiving all of this information from the prospect, you can evaluate what the best route to take is. Deliberate your options and advise the prospect:Installment AgreementOffer in CompromiseFull payCurrently not collectibleBe sure to discuss with the prospect the time frames and major hurdles in their individual case. Give them a range of suggestions on how long their case may take. Then review with the prospect their duties and responsibilities regarding prompt submission of documents, commitment to deadlines, etc. Fees required will depend on many factors and circumstances of the individual prospect case, such as:Are we preparing tax returns? How many?Is a bank levy or wage garnishment imminent?Does the prospect have an existing wage levy that must be removed?Does the prospect have an existing bank levy that’s within 21 days from the date of the levy? How much time is left?Is the prospects case assigned to a revenue officer?How complicated is the prospect’s current financial situation?How complex is the prospect’s IRS situation?How much is owed to the IRS? How much is owed to the state?Once you have the answers to all of these initial questions, you will know where they stand and approximately how long and costly the case will be. You can then determine if you will take the prospects case or not. ................
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