Skip to content

A new canopy tool allows tax professionals to manage IRS client notifications

--Advertisements --

The deadline for filing taxes for 2018 is over, but the IRS is still busy sending notices to taxpayers and their accountants – including small businesses. Canopy Notices is a new offering designed specifically to solve this problem by helping accounting professionals manage IRS advisories from their clients from a single management dashboard.

The IRS sends over 200 million IRS records each year to small businesses and other taxpayers to resolve the more than 150 types of offenses that the agency typically identifies. And because of budgeting, small staff and newly available technology, these reviews are sent using automated solutions.

For individual accountants and small accounting firms, it may be long and costly to respond to these opinions. And it's there that Canopy Notices intervenes to help tax professionals manage the IRS notices that their customers receive.

In a press release, Nate Barrett, vice president of Canopy's Product Management and Design, said, "The IRS can cover more ground by sending as many millions of reviews as possible in performing traditional audits. Now, the average accounting firm processes more than 100 reviews a year. IRS notices are a huge source of frustration for many businesses, as it can take the average practitioner more than three hours to research and respond to an opinion. "

In an email interview with Small Business Trends, Barrett shared an overview of the reviews. He said the solution is particularly suitable for small businesses, such as accountants and other financial service providers.

Mr. Barrett explained, "Receiving a notice can be a very painful experience for your client. The IRS sends millions of notices to taxpayers each year. They are quite common. In general, customers expect their tax professional to be able to resolve the advisories, and those who do not risk losing customers. Even if they do not lose clients, practitioners who do not respond to reviews will lose a lot of billable work. "

See also  5 lessons to scale the life sciences scale
-- Advertisements --

He adds that the size of your business or your public accounting firm does not matter. "If you provide tax services, especially tax preparation, you must be able to help your clients respond to a notice."

Barrett added, "If you can show that you know how to handle the notice quickly and accurately, you build trust and trust with your client."

Characteristics of canopy records

Canopy Notices can be used as a standalone product or as part of Canopy's practice management suite for a complete solution to follow the advice of the IRS

The Records Library allows professionals to quickly evaluate reviews that are time-sensitive by using the search capability.

Resolutions and sample letters to be taken are developed by experienced tax professionals and former employees of the IRS, so that each notice may be solved by clear and detailed instructions.

-- Advertisements --

The management dashboard and status tracking allow you to see what's going on throughout your business. You can assign tasks, track progress against official deadlines, and see the status of any assignment so that all notices are tracked and processed on time.

Barrett said, "Ignoring a notice is never the right way to react, so if you choose to ignore a tax notice, it will certainly have consequences."

Photo via Shutterstock