Q: What exactly is a Tax Return Score?
A: Do you remember coming home from school and having to explain a D on your report card? Tax scoring consists of assigning a letter grade and numerical score to your tax return. Further, we evaluate nearly every line item on a tax return by utilizing a series of algorithms based on statistics we complied from 130 million tax returns resulting in an indicator of an individual’s financial strength beyond a credit score. Scoring is completed by subtracting points based on tax deviations from IRS averages to arrive at an overall grade and score.
Q: I work with evaluating and settling claims involving loss of earnings. Would this program help me?
A: Definitely will help you seemingly gain years of financial knowledge in minutes by requesting pertinent financial documentation for your file to assist you in accurately evaluating pre-accident and post-accident information.
Q: Why is documentation tailored to a specific occupation/business so important?
A: Each occupation has specific types of documentation that contain important financial information. For example, the information you request from a surgeon would be very different from the information you request from a landscaper.
Q: I don’t have time to learn to use a new program. Could I benefit from this with a minimal time investment?
A: Of course! With our internet service you can complete our Record Request tutorial in 5 minutes and our Tax Return Score tutorial in just 10 minutes.
Q: We already have a credit score on file; will a Tax Return Score help?
A: Absolutely! The major advantage of a tax score over a credit score is that it’s based on income. The TRS score provides you with an indicator of an individual’s financial strength beyond a traditional credit rating. In addition the report provides a monthly cash flow statement that breaks down total income, deductions, taxes and net income.
Q: What types of professionals can benefit from scoring tax returns?
A: Busy professionals who wish to maximize their ability to quickly measure financial strength will benefit. This group includes:
- Adjusters
- Attorneys
- Bankers
- Credit Officers
- Financial Analysts
- Loan Officers
- Mortgage Brokers
- Paralegals
Q: Can individuals use tax scoring if their credit has been compromised?
A: Yes, people with poor credit scores caused by identify theft, reporting errors – or lack of traditional credit history – will benefit from this innovative method of demonstrating their ability to repay debt.
Q: What additional information does a Tax Return Score provide versus a credit score?
A: We alert you of monthly liquidity, excess tax ratios, poor performing businesses, high risk investment activity, sale of company assets, exit from workforce, unusual deductions and significant tax delinquencies. The TRS report also evaluates the potential that the return was never filed with the Internal Revenue Service.
Q: What is the range of your letter grades and scores?
A: The scoring system ranges from a high of A+
to a low of U. (See below)
| Grade | Credit Method | Grade | Standard Method | |
| A- to A+
(765-850) B- to B+ (680-764) C- to C+ (595-679) D- to D+ (510-594) U ( < 510) |
Excellent Good Average Poor Unsatisfactory |
A- to A+
(90-100) B- to B+ (80-89) C- to C+ (70-79) D- to D+ (60-69) U ( < 60) |
Excellent Good Average Poor Unsatisfactory |
Q: What communication and database security do you employ?
A: We utilize encryption using Secured Socket Layer. The web application requires a browser that is capable of 128bits SSL. A verifiable security certificate from Verisign is used to enable SSL. The raw database files are encrypted by proprietary Microsoft encryption. Sensitive data fields within the data base are additionally encrypted. We are currently using an extremely strong combination of Triple DES, BlowFish and MD5 in conjunction with a Time-Variated algorithm. Application DLLs and executables are digitally signed to protect against tampering.
Q: How does a Tax Return Score compare to a credit score?
A: Tax Return Score Avg 692
FICO National Avg 692
Q: How can tax return score identify a fraudulent tax return?
A: Having reviewed thousands of tax returns over the last 20 years has provided the technology to identify fraudulent tax returns. By using our proprietary trade secrets we can flag a tax return that has never been filed with a with a high level of accuracy.
Q: How widespread is the problem of not paying taxes or failing to file?
A: The American Institute of Certified Public Accountants surveyed their members and found that nearly 50% believe the $300 billion dollar tax gap is attributed to small businesses and self-employed individuals. In addition, 12% believe the act of not filing returns is the major component. We believe as many as 1 million self-employed individuals fail to mail their tax return or report only a fraction of their actual income.
Q: What service options do you provide?
A: We provide two options:
Option 1: YOU enroll as a subscriber and are issued a User Id and
Password. With an online account you input your client’s tax information
directly into a pre-designed template on our server. Once transmit the
data a CPA will review the tax return and you will receive a report
within 30 minutes or it’s FREE.
Option 2: YOU email or fax the tax information to our office and WE input and process the TRS report. We guarantee 24 hour service or
it’s FREE.
Q: What do we receive when we request a Tax Return Score?
A:
- TRS Report
- Diagnostic test results
- Recommendations for course of action
- Breakdown of average monthly net income
- Summary of the Individual Tax Return
- CPA to provide technical support