How To: Identify clients who paid penalties last year (or owed a lot of taxes) who could use a check-in

As the year comes to a close, it’s time for firms to focus on strategic tax planning. Tax accounting AI tools can simplify this process and help improve your clients' financial strategies.

With the right tax accounting AI tools, you can handle any challenge that comes your way when planning clients' tax strategies for the new year.

Find Clients Who Need A Check-In

When it comes to tax planning in Q4, it's important to check in with your clients, especially those who paid penalties or owed a lot of taxes last year.

A proactive approach can help avoid penalties in the future, but identifying which clients are at risk is a time-consuming process. Tax accounting AI tools make it easier to find these clients quickly and ensure no one is overlooked.

For example, AI can look at clients' past tax returns and payment histories to find patterns of underpayment. This helps you pinpoint where to recommend changes to estimated tax payments for the current year so that your clients maintain compliance and avoid fines.

How To Use TruePrep

1. Upload your client base into TruePrep using the “File Uploader” button.

2. Once your client base is loaded into TruePrep, copy and paste the prompt into the search bar: “Show me clients who paid penalties last year.”

   Pro Tip: Work collaboratively with your team by saving this prompt to your “Saved Prompt” list. When they log into TruePrep, they can run the search on their own and add columns to the report when they have conversations with clients.

3. TruePrep will auto-generate a list of your clients who paid penalties in taxes last year.

4. Next, export this list using the “Export” button.

5. Now you can divide this list among your staff or use it as a reference yourself to take a proactive approach to client outreach before tax season.

Want to learn more about using tax accounting AI tools for strategic tax planning? Check out The Tax Pro’s Guide To Q4 Tax Planning Using AI or request a demo by clicking the button below.