On January 1, 2009, the 7216 Final Regulations went into effect. These new Regulations significantly restrict the use and disclosure of information tax professionals receive from a tax client. Failure to comply with the 7216 rules could result in severe criminal and/or civil penalties - so this is a very serious topic that must be addressed.

To assist tax professionals in meeting IRC 7216 requirements PitBullTax Software specifically designed control mechanism which does not allow entering any sensitive financial and personal information into the system until representative confirms receipt of such disclosure and consent from a client. The software also have very user-friendly built-in template to create required letter with IRC 7216 disclosure in minutes and send it to a client via email. Moreover, IRC 7216 letter can be signed electronically and representatives are notified each time electronic signature is received.

Provision of automated control features ensuring compliance with IRC 7216 is one of many advanced features of PitBullTax Software designed for efficient handling of IRS Tax Resolutions cases. To learn more about the features of PitBullTax Software go to http://www.pitbulltax.com/page/software.html

If your client is a candidate for an Offer in Compromise, Great! We'll help you obtain the very best settlement by walking you through the process by providing you with "PitBull Tips" along the way. These exact tips took years to develop and have saved actual resolution clients millions in IRS taxes, penalties and interest.

What if your client is not a candidate for an Offer in Compromise? No problem. The software will automatically select between actual expenses and IRS standards depending on which resolution you select. Switch back and forth between resolution strategies and the software will automatically recalculate using a proprietary matrix encompassing the rules for Three Year, Five Year, Life of Statute Full Pay Installment Agreements, Partial Pay Installment Agreements and Currently Not Collectible Status "53" cases.

PitBullTax software will even assist you in your Innocent Spouse resolutions and Trust Fund Recovery Penalty defenses!

Posted at 09/28/2010 09:39:33 PM