Audit Defense
Our Million Dollar Audit Defense means what?
We will spend up to $1 Million to resolve an audit. We do not pay out anything for our Audit Defense
TaxSlayer
We pay for penalties, fees, and interest only. True/False
False. We pay for TAXES, penalties, interest, and fees.
Firm level is $20 per return. True or False
False. $10 per return.
$500
All softwares that we are partnered with have access to our Audit Defense? True or False
True! That is our flagship service. Every professional tax software has access to our Audit Defense
Only the primary taxpayer has the ID theft service. True/False
False. Spouse and Dependent too
How do we guarantee a tax professional does not steal the reimbursement from their clients?
We send a check to the tax professional but with the client's name on the check and a 1099 under the clients name to file on their tax return.
Firm level is a pick and choose program. True or false
Lucy sells the Per Return program to 10 people. The total amount TPP receives for these 10 people is _____.
$599.50.
We handle only full blown audits. True or False
False. We handle anything from CP2000s to a full blown audit
DAILY DOUBLE Intuit has Audit Defense, ID Theft, and the 2500 guarantee. True or false BONUS POINTS: Why would someone want to use the ProSeries Per Return program?
False. Intuit only has Audit Defense and ID theft services. HOWEVER, an Intuit ProSeries user can use Per Return to have access to the 2500.
the $2500 is basically an ENO insurance policy, but smaller.
NO. This is more like a Warranty. It CAN help prevent the tax professional from using their ENO on claims that are $2500 and under.
Per return has a cap for the markup. True or false
True. For most softwares the cap is $60 markup.
DAILY DOUBLE Lucy files 200 1040s and 10 business returns. She signs up for the firm level program. How much does Lucy end up paying TPP?
$2000.00
Our Audit Defense is 3 years for Federal and 3 years for State? True or False
False. 4 years for all states!
How long is the ID theft restoration service?
How long is the monitoring after an incident?
1 year.
1 year after incident.
TRUE. He can advertise our services as he pleases. He can say it's us or himself providing any of our services.
We bill every two months. True or False
False. We bill every two weeks.
Lucy files 10 1040s and 10 business returns on the firm level with business return program. How much does Lucy owe TPP?
$850.00
1040
The letter/audit
The ID Theft Restoration service is service by whom?
Experian provides the monitoring.
False, this is per tax return!
The tax professional pays out of his own pocket (his own money) for the Per Return program. True or False
False. He collects the funding from his clients and acts as a middle man for the payment. He then "funds" Protection Plus once his client pays him.
Lucy uses 10 bank products for her business out of the 100 returns she files. She is concerned about the firm level program because she doesn't want to pay TPP, then have to wait for her clients' funding to come through. What might Lucy do to protect herself from clients that may not pay/fund her?
She might think about raising her fees a little extra on the other 90. For example if she typically charges $100 and initially was going to raise her fees to $110 for TPP, she can raise the fee to $115 for everyone in case the 10 bank product clients do not pay/fund her.