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 The IRS Advantage™ is THE solution to your frustration from customers who won’t pay "I tried everything . . .calls, letters, even personal visits to get my company’s past due invoices paid" I said to myself, "There’s got to be something I can try before sending it over to our collection agency or attorney." Then, I discovered the KEY to getting paid quickly! Eliminate your frustration using The IRS Advantage™ Collection System:
My name is Ben Ricci and about ten years ago, I, just like you, was surfing the internet and other sources in search of a way to collect my company’s most delinquent accounts without having to pay 25% to a collection agency or 35% to an attorney. In my first year as a Credit Manager, I became increasingly frustrated with the small number of past due accounts in which I was spending most of my time trying to collect. I was tired of being lied to and deceived by our customers. I wanted to change the sign on my door to "Accounts Deceivable"! I realized there was no quick answer to my problem. I believed, however, that there was a solution because the collection agencies I was using were able to collect the accounts I couldn’t in a fraction of the time I was spending. Does this sound familiar? Imagine If You Could Collect Almost Every Past Due Account Yourself at a Fraction of the Cost The constant cycle of calls and stalls, lies and excuses, false promises and frustration can be overwhelming whether you are a newcomer or experienced. The situation often escalates and leads to employee burnout, higher bad debts, and increased costs. The Solution I came across a short article in an industry newsletter that mentioned issuing IRS Form 1099s to customers whose accounts were written off. The emphasis back then was to document and substantiate the bad debt tax deduction. Wouldn’t you rather have your invoices paid than a tax deduction for the write-off? The light bulb in my head clicked on . . . The IRS Advantage™ Collection System This proprietary debt collection system works on the premise of reporting your unpaid invoice as a loss to the IRS and your customer on a Form 1099-C. It is positioned as an audit magnet to your past-due customer because the IRS routinely runs computer matches of the 1099s filed against the recipient’s tax return for that year. Once your debtor receives the carefully worded collection letter and Form W-9 demanding their tax ID information under mandate of federal penalty, you’ll be surprised how fast a check can arrive in the mail. The system includes collection letters for both corporate and consumer accounts, suggested phone scripts, IRS Form W-9 with web links, complete instructions and guidelines, background information, and technical addendum to ensure compliance and effectiveness. You can't beat having the IRS on your side in a collection matter. PRICE - $99.95 Call (888) 722-1611 to order! ** This system is not suited for 3rd party collections. No collection agencies please. |
FREQUENTLY ASKED QUESTIONS IRS Collection System
Q: Is this legal? Q: How does this work? Q: Does this work with commercial accounts only? Q: What if they won't fill out the W-9 or provide their tax ID number? Q: Is it best to use this in writing or verbally over the phone? Q: Does this work with bankrupt companies or individuals? Q: Is this legal? A: You bet it is. Your firm's loss becomes your customer's gain, and as such, can be reported to the IRS on Form 1099-C as income to the debtor. You see, debt reduction (even partial) represents accession to wealth, clearly realized, and is considered taxable income. Refer to IRS Reg. S1.61-12 (discharge of indebtedness). We received Case #63-0501-0029I from the U.S. Treasury Dept (TIGTA) to confirm that the system was not in violation of any usage or misrepresentation issues. (back to top) Q: How does this work? A: You mail or fax the IRS collection letter along with IRS Form W-9 (Request for Taxpayer Identification Number) then follow-up with a phone call to explain that if you are not paid in full immediately you will have no option but to write it off and report to the IRS on a Form1099 which will cause an audit risk for the recipient. This is due to the fact that the IRS routinely runs computer matches of the 1099s sent in by creditors against the tax filings of the identified businesses. (back to top) Q: Does this work with commercial accounts only? A: No. The technique is equally effective on retail/consumer accounts, including medical, bank loans, bad checks, educational, etc. We have prepared a special retail IRS letter for your use. (back to top) Q: What if they won't fill out the W-9 or provide their tax ID number? A: Refer them to page two of the W-9 (Penalties), which cites a $50 federal fine for willful neglect in not providing the requested information. Further, there is a $500 federal fine for providing false information, plus both civil and criminal penalties including imprisonment. (back to top) Q: Is it best to use this in writing or verbally over the phone? A: You will be provided with complete instructions, scripts and examples. Obviously, if you don't have a working phone number you will use the written approach. It is best to follow-up with a phone call by using the exact scripts provided after faxing the letter and Form W-9. (back to top) Q: Does this work with bankrupt companies or individuals? A: On the accounting side, you cannot report debt cancellation income against an insolvent debtor. On the collection side, it makes no difference. The IRS collection letter states "we will at our option, issue the Form 1099-C to the IRS . . ." which enables you achieve full collection impact without having to forward the W-9 to your accounting department. (back to top)  |
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