Protection Plus Coverage is Unique
IN ADDITION TO COVERING STANDARD IRS AUDITS, PROTECTION PLUS COVERS THE FOLLOWING:
Up to $2500 reimbursed to clients if a legitimate preparer error has been made on their tax return.
Example: On a client’s form 1099-R the preparer failed to enter the taxable amount of retirement income. Two years later, the client received notice of this and was assessed a tax liability and interest was charged.
Coverage for denied credits such as EIC, Child Tax Credit, Education Credit, and First Time
Homebuyer Credit, even if the return was unfunded.
Example: A client was denied EIC and Child Tax Credit for her grandchildren. Her anticipated refund was denied by the IRS. When her tax return was e-filed, the Protection Plus contract was attached. Even though her return was unfunded, she was covered under the Protection Plus policy.
WHY DOES PROTECTION PLUS COVER UNFUNDED RETURNS?
+ For the client to receive the refund they are due
+ For the preparer to receive their fees once their client’s return is funded
+ To relieve the preparer of the burdens caused by their client’s IRS audit
+ Customer retention is enhanced by adding this coverage
All Schedule A, Schedule C and Schedule E covered at no additional charge
Example: A year after a return was filed, the IRS is auditing your client for his Schedule A deductions. With just one phone call, the staff at Protection Plus goes to work for your client. The client’s claim will be handled in a prompt, courteous, and professional matter.
Protection Plus will provide coverage for three full years after the year in which the coverage was purchased.