Compliance Solutions

Transcripts

No matter how hard you work to keep your clients in good standing with the IRS, sometimes they may still get a notice—a CP14 or a CP2000 or any number of notices. From there, of course, you have to resolve it and the first step toward doing that? Pulling a client’s IRS transcript in Canopy. That way, you have the exact same information as the IRS and can gain insight into the issue, all of which helps you get started resolving things.

IRS INTEGRATION

Canopy’s partnership with the IRS—via our approved integration—means that Canopy customers have access to a secure, one-time login to the IRS system through the Canopy system. It also means you can easily see the estimated, real-time, from-the-IRS status of your transcript request. Knowledge is power, especially when you’re dealing with stressed clients, so we do everything we can to help keep you in the loop.

TRANSCRIPTS RETRIEVAL

Once you’ve connected your IRS account to Canopy, pulling client transcripts is simple, secure, and efficient (not to mention directly from the IRS system into Canopy). We’re like the dog that loves to play fetch, minus the copious drool and dog breath.

TRANSCRIPTS MONITORING TOOL

Maybe a watched pot never boils, but a monitored transcript puts clients at ease. So Canopy makes it simple to stay on top of it by scheduling recurring transcript pulls. Better yet, we notify you if and when something changes. It's the magic of transcripts software.

REPORTING

Canopy offers two ways to display transcript information: 1) showing the unformatted data from the IRS in its original format, or 2) pulling the transcript data from the IRS into a reformatted, easier-to-read, easier-to-digest format. We generally despise the term “easy-peasy” but if the reporting tool fits…

VERSION COMPARISON

Canopy stores all previous IRS transcripts you’ve pulled on behalf of clients, making it easy to compare different transcript versions. We help you spot discrepancies or changes by highlighting the differences between the compared versions.

Notices

Once you’ve got your client's transcript in hand (well, digital hand…) and are empowered with information on what the issue might be, you can finally get to work resolving it. That’s where our Notices products come in.

CONTENT LIBRARY OF NOTICE TEMPLATES

To help you resolve your client’s notice, Canopy has a library of 350+ prebuilt Federal and State notice templates that provide an overview of the notice type as well as walking you through the recommended steps to resolution. Each template is completely customizable to match your firm’s processes. From each template, you can also easily link to any pulled transcripts for the client, make quick notes, and see associated files. We won’t say that resolving a notice is easy, but Canopy definitely helps make it easier.

CUSTOM & EDITABLE ENGAGEMENT AND IRS LETTERS

Canopy has draft engagement letters and IRS  letter responses for the various notice templates, all tailored to help you respond in the best way to resolve your client’s IRS issue. Canopy can autofill any information from your client’s record in the letters. And what’s more, Canopy highlights the areas you need to complete (or delete, if not relevant to your client). If you’ve purchased Document and Client Management you can save this to your client’s document folder and share this with them via their Client Portal.

ADMINISTRATIVE FORMS

Handling a client’s notice often requires having a tax authorization or power of attorney on file. Canopy will auto-populate the needed IRS and state administrative forms with client information that’s saved on your client’s contact record in Canopy. Better yet, the needed forms are provided within the notice workflow so there’s less time searching for them and reduced time spent filling them out.

ACTIVE NOTICES LIST

In our pre-built templates from the task list, Canopy shows you a list of all active notices’ as well as next steps to help you through the process. Filter, sort, and view the active notices by a variety of attributes. And, if you’ve also purchased Workflow, then you get expanded functionality that includes filtering and saved views that you can view on the web or mobile.

CLIENT REQUESTS

Canopy Notices integrates with our Client Management, if you've purchased it, so you can leverage your notices workflow to send requests to clients. Those requests show up in your customer’s Client Portal making it easy for them to respond—whether they’re on the web or mobile app or browser.

Tax resolution cases

While it may not be the bulk (or favorite part) of your firm’s business, occasionally everyone has clients that need assistance resolving an IRS case. Canopy Tax Resolution builds off of the Client Management module to help make the IRS case resolution process simpler for your firm. Once you’ve selected the type of case you’re working on for your client, you simply follow the recommended next steps that Canopy has built out (or you can build your own custom step-by-step template, you on-brand overachiever you). Canopy can guide you step-by-step through the whole process, whatever case type you might have:

Collections: installment agreements, offers-in-compromise, currently non collectible, liens, levies

Penalties: trust fund recovery, first-time penalty abatement, reasonable cause penalty abatement

Spousal relief: innocent spouse relief, separation of liability or injured spouse allocation, equitable relief

Outcome resolution information

We know that you and your clients work hard to avoid IRS cases, but when one occurs, Canopy can help to guide you through.

Case service assistant

To get started, Canopy asks a series of questions about the client and based on the answers, we guide you to recommendations for how to resolve the issue.

Overview information

Canopy gives you practically everything you need to know about each case type. Including an overview of the case type, information on who to call at the IRS, script of talking points, and links to important or relevant IRS articles.

Recommended resolution steps

When we say that Canopy helps guide you through the process we mean it and include step-by-step guides. Each template is completely customizable to match your firm’s processes. And from each template, you can also easily link to any pulled transcripts for the client, make quick notes, and see associated files. We don’t want to say that resolving IRS cases is easy — but it’s definitely easier with Canopy.

Survey style forms that auto populate Federal and State forms

Your client fills out the Canopy survey you send them (via their client portal, another perk of having the Canopy Client Management platform), Canopy then asks you - the accountant - questions. Then Canopy takes the information from both the client and the accountant and uses it to auto populate the legal form. All that’s left for you to do, is review and edit the form, if necessary. Finally, share it with your client in the client portal for them to eSign (if Document Management is purchased) and return to you. Then it’s ready to print and file with the IRS.

Client communication tools

Resolving a case requires you to collect data from your clients, Canopy makes it simple, with our letter generator, client requests, and financial questionnaire. And because Tax Resolution works in conjunction with Client Management it’s easy to send to your client’s portal where they can quickly and easily respond. And automatically remind them in case they forget to respond.

Letter generator

Canopy offers custom and editable templates that allow you to send out engagement letters (or really, any letter you want) to your clients to get your tax resolution cases started. Better yet the letters automatically fill in any information from your client’s record. Additionally, it highlights in red text the areas you need to complete or delete if not relevant to your client. And because Tax Resolution is integrated with Client Management, it’s easy to share with your client via their Client Portal. And have them eSign it if you’ve purchased Document Management.

Client requests

Any kind of to do that you request of your client. Need them to send you documentation? Send a client request. Need them to eSign a document (requires Document Management license)? Send them a client request and the process is seamless. You get the idea.

Client financial questionnaire

Have a lot of questions or information you need to gather from your clients? It’s easy to send a client survey and have them fill out all that information directly in Canopy. Or you can fill it out on their behalf during a client meeting. The best part, this information is used to populate 433 series IRS forms.

Collections outcomes analytics

Last, but not least is a bonus feature for those pesky collections cases. When you’re trying to figure out what amount you could negotiate with the IRS on behalf of a client, what potential payment plans could I put together, etc, the Canopy collections analytics tool evaluates your client’s financial profile and recommends available courses of action for resolving their tax debt.