Managing Procrastination and Payment Plans: Essential Tips for Tax Professionals

In this episode, Dan Henn, CPA, CTR™ also known as the IRS Whisperer, addresses the prevalent issue of procrastination among clients and its adverse effects on tax professionals. Dan explores ten significant consequences, including missed deadlines, increased stress, financial losses, reputation damage, lower work quality, client dependency, burnout, personal frustration, and lost opportunities for better clients. He emphasizes the importance of setting firm deadlines and imposing rush fees to manage procrastinators effectively.

Additionally, Dan provides valuable insights into managing installment agreements or payment plans, discussing their benefits, the importance of timely payments, and strategies to minimize penalties and interest. He also offers a free downloadable cheat sheet on installment agreements. To access the Installment Agreement Cheatsheet click here!

Dan also extends and invitation to licensed tax professionals to the upcoming Tax Pro Profit Maximizer Expo 2024 (TPPME) in Dallas, focusing on marketing, practice management, and client relations. Dan closes by underscoring the significance of reclaiming time for personal interests and family. To purchase tickets go to http://tppme.com

00:00 Introduction and Welcome

00:09 The Problem of Procrastination

00:50 Consequences of Procrastination

04:15 Strategies to Combat Procrastination

06:59 Introduction to Installment Agreements

08:08 Setting Up Payment Plans

10:54 Managing Multiple Tax Years

16:38 Upcoming Event: TaxPro Profit Maximizer Expo 2024

17:35 Conclusion and Personal Reflections