subject: Tax Season Debt Recovery [print this page] Tax Season Debt Recovery Tax Season Debt Recovery
Tax season is an important time for businessesthat highlights both challenges and opportunities. Whether you are a commercial collection agency, or a company that utilizes an agency to collect your debts, this guide points out some of the key opportunities and tips that can help improve your debt collection efforts.
Tax Season - Guide for Business Owners:
If you are a business owner that has utilized the services of an effective commercial collection agency, tax time mightpresent a reminder of how debt recovery efforts have helped to improve your company's bottom-line by recovering debts and returning funds to you.
In addition, if your agency's debt collection efforts have been productive,youmay note a reductionin the number of accounts that had to be written-off by your companythis year due to non-payment or incomplete payment. Your companymight also avoid tax complications by utilizing a commercial collection agency to help ensure that any remaining or outstanding bad debt will meet the IRS's requirements prior to writing them off.
Tax time can also be a great time to turn over your delinquent accounts to your commercial collection agency for collection. When your debtors get their refund checks...that spare cash they will get can help them repay their debts. An experienced debt collector will be sure not to miss this unique, once-a-year opportunity to recover your debt or accelerate the payment of debts back to your company.
Tax Season - Guide for the Commercial Collection Agency:
If you are an agency or related business, you will note that tax time presents unique opportunities to improve debt collection efforts as well as opportunities to grow your client base.
Tax season is not only a time to remind your existing clients of the importance of debt recovery efforts...it is also a time to inform your clients and your prospective clients that this is a time when debt recovery can be particularly advantageous.
Apart from the benefit of new business, diligent agencies can yield great results during tax season, particularly on accounts that have had minimal priorresponse to recovery efforts.
