TaxAudit.com, an audit defense service in North America for individual taxpayers, small businesses, and professional tax preparers, has updated its Audit Defense Pro offering, providing end-to-end audit representation service for Enrolled Agents (EAs), CPAs, and other professional tax preparers for their clients in the event of a federal or state audit.
Audit Defense Pro provides access to experienced audit professionals who will handle any audit or notice that a tax preparers’ client receives from the time it is reported until it’s resolved. This product is gaining traction in the marketplace by leveraging a new pricing structure that provides entire practice coverage for one low, flat fee and offering real-time visibility into case status for tax preparers and clients, as well as resolving conflict of interest concerns. As a result, TaxAudit.com resolved more than 26,000 audits for individual taxpayers last year and has more than 8 million members.
Audit Defense Pro provides tax preparers with access to a team of experienced audit professionals to interface on their clients’ behalf with the IRS or state taxing agency. The service uses TaxAudit.com’s proprietary and highly secure technology platform which offers a portal for uploading, communicating, and storing client information and documentation. In addition, Audit Defense Pro:
- Offers a new revenue stream. Audit Defense Pro allows tax preparation firms to offer a new service to their clients without any additional work.
- Provides access to experienced professionals. Through Audit Defense Pro, clients have access to TaxAudit.com’s team of audit experts, including CPAs, EAs, and attorneys, whose collective audit experience and specialized representation skills offers clients the best chance of an optimal outcome.
- Gives peace of mind. While no tax professional wants the return they prepared to come under scrutiny, Audit Defense Pro offers cost containment for both the tax preparer and client by providing a fixed-fee service to resolve any audit or notice issue that may arise. This has the potential to provide huge savings for the consumer.
- Helps avoid conflicts of interest. If a tax return comes under scrutiny, Audit Defense Pro works as a go-between so the client receives audit representation without the tax professional having to defend how the return was prepared.
- Allows tax professionals to focus on the profitable aspects of their business. Audits can be long and tedious. With Audit Defense Pro, professionals can focus on their business without wasting valuable time on audit and notice work.
"As tax professionals, we know the dread and hassle associated with handling client audits, not to mention the drain on resources. With few exceptions, accounting firms and CPAs have routinely handled client audits because there simply was not a viable alternative," said Mark Olander, President and CEO of TaxAudit.com. "The demand is there for trusted third-party audit defense. Expanding our service offering with the professional tax preparer community is a natural opportunity for us to help more taxpayers."
TaxAudit.com also announced the results of a recent Voice of the Customer Survey of more than 120 tax preparers, CPAs and EAs. The survey found that while 90 percent were unaware that outside audit representation services were available, 33 percent would consider using an outside firm for their audit and notice work. A further 24 percent had no concerns about offering such a service, and a majority of tax professionals saw providing audit representation services through a third-party as a sign they were confident in the accuracy of their returns.
The results of the survey indicate a $100 million market for third-party audit defense services today with the potential for an additional $87 million as perspectives change with increased acceptance of specialized audit representation services. For more information on Audit Defense Pro, visit www.auditdefensepro.com.
TaxAudit.com is an audit defense service in North America for individual taxpayers, small businesses, and professional tax preparers, with over 8 million members and 26,000 audits and notices handled last year.
TaxAudit.com offers tax audit representation and defends taxpayers from the moment they receive an audit notice through to resolution. TaxAudit.com members receive expert tax representation and relief from the nightmare of being audited. TaxAudit.com is headquartered in Sacramento, CA.