Thousands of filings and notices piled up. And now that the government is open again, the IRS is working to clear its backlog.
That means a new round of notices, penalty warnings, and compliance requests for business owners.
If you’re not sure if your books are IRS-ready, now may be a good time to get help.
The Cost of Falling Behind
No notices have gone out for the last ~2 months, but that doesn’t mean deadlines stopped.
You may be tempted to put off a filing or responding to a letter — it’s stressful, takes time away from the business, and it’s hard to know if you’re doing everything correctly — but as the IRS catches up, they’ll have even less time than usual to focus on what’s in front of them.
So if they do contact you, it’s best to be prepared in advance. Issues could take months to catch, and even longer to fix, if everything isn’t right the first time.
Here’s what’s at stake:
- Stress and uncertainty: No one enjoys getting an IRS notice. And the longer issues linger, the longer they’ll sap your peace of mind.
- Penalties and interest: If you’re late with a filing, or the IRS finds a mistake, the fees can stack up quickly.
- Delayed refunds: With returns piling up, even simple refunds can take months. And if you have to go through and correct an error? Even longer.
- Missed opportunities: Programs, like the R&D tax credit, require proactive filings and documentation. If you miss the window, you also miss the savings.
The truth? It’s far easier, and cheaper, to stay ahead of the IRS than to play catch-up.
Slow Dealings With the IRS Aren’t Your Fault
Chronic staffing shortages have faced the IRS for years. Meanwhile, the number of active businesses has skyrocketed. Add in rapid regulatory changes, and it’s a recipe for slow, frustrating, and tedious interactions with the IRS.
Which is exactly why this moment matters: the best time to prepare is before April’s busy tax season hits. If you wait, you may find yourself on the tail end of not only the IRS, but also your accounting firm.
Indinero works hard to maintain proactive communication with clients and close tax filings in as little time as possible, but many CPA firms won’t don’t have the capacity to keep up during busy seasons.
As John Rickard, our director of business development, explains:
“Many CPA firms operate in a reactive model. They spend their time putting out fires, and so the proactive stuff falls off. Their clients get stuck waiting for answers because their CPA is spending their day just trying to keep up.”
But Peace of Mind Means Being Proactive
Entrepreneurs are incredibly capable. No matter the challenge, they’re ready to put on a new hat and get to work.
And you could certainly handle taxes and IRS notices yourself. But do you really want to? No matter how much research you do, there will always be nagging questions in the back of your mind:
- Did I do this correctly?
- Have I forgotten a deadline?
- What if this is wrong? How bad are the penalties?
It may be tempting to try and save money. However, your core expertise is your business. The opportunity cost of focusing on taxes, rather than growth, could outweigh the savings.
Why Now Is the Perfect Time to Get Help
Think of the post-shutdown moment as a financial checkpoint. The IRS is resetting, and you can too.
Even if you’re pretty sure you won’t be hearing from the IRS, Q4 filings are due at the end of December, and the April tax season will be here before you know it.
Here’s how our team can help:
- Catch-up and clean-up: We’ll review the books and make sure everything is IRS-ready, before deadlines force your hand.
- Proactive planning: From individual 1040s to corporate returns, we make sure every form is accurate, on time, and optimized for your situation.
- IRS correspondence support: If you’ve already received a notice, we can step in and help directly, so you don’t have to spend hours navigating IRS hold lines.
- Comprehensive services: It can be a pain to coordinate multiple service providers. Your tax accountant, bookkeeper, and payroll manager all need the same information, so it makes sense to hire a firm that can handle everything under one roof.
Senior tax director Brian Miller sums up our services like this:
“Our goal is simple. Accurate, timely filings and total peace of mind. When clients know their finances are handled, they can focus on growing their business rather than worrying about spreadsheets or what’s in their inboxes.”
What to Look For in an Accounting Partner
We have plenty of competitors, and understand how many options are available. So even if you don’t go with us, here’s what we recommend looking for in a financial services firm:
- Responsiveness: If you’ve ever waited days or weeks to hear from your accountant, you know how frustrating this can be. We guarantee 24-hour response times (though you’ll often hear from us much sooner), and you should accept nothing less from our competitors.
- Scalability: When you’re starting out, you may only need bookkeeping support or help with tax filings. But as you grow, so does complexity. Transitioning service providers can be a headache; look for a firm that can help you today and support you down the road.
- Breadth of expertise: Your accounting team shouldn’t have to “look into” the unique aspects of your business or industry. They should already know.
- Communication: Some firms will drop a PDF in your inbox at the end of the month and disappear. The best firms take the time to talk to you, in plain English, about what’s going on.
- Proactivity: The best accountants don’t just react; they reach out before problems appear or inform you about opportunities that may not be on your radar.
Need help? Reach out for a free consultation today. We’d be delighted to learn about your business, and share how we might be able to support your success.
You focus on growth. We’ll handle the numbers.
