Get the IRS to help you collect from your most delinquent accounts using a revolutionary new collection letter.
At some point every business will encounter this problem: the customer who refuses to pay. You’ve tried every tactic at your disposal, but to no avail. The account is still outstanding and the customer isn’t paying anytime soon.
What else can you do prior to placing the account with a collection agency? You can have the IRS help you—in a round about way—to get your customers to pay.
But don’t go calling the IRS just yet. However, it is possible to have them help you. And you can thank a very innovative debt collection company—Stevens & Ricci, Inc.—for making the strategy called the “IRS Advantage” available to everyone.
“At one time I was a very frustrated credit manager,” says Ben Ricci, founder of Stevens & Ricci, Inc. “I was working for a large industrial lighting company that had a hefty amount of overdue A/R. I wanted a way to clear up the A/R fast, so I developed a collection strategy that would (in a sense) have the IRS help me make the collections…..and it worked, better than anybody could have imagined.”
The collection strategy works on the premise of reporting the debt as a loss. The IRS will view this as income to the debtor. It’s a well-known fact that the IRS routinely runs computer matches of 1099s against your customer’s tax filing.
But the key to the whole strategy is this: a pre-formatted IRS collection letter. Created by Mr. Ricci, the letter uses a powerful combination of accounting principles and debtor psychology. Once your debtor realizes that the IRS could be examining their tax statement a little more closely, you will be surprised how quickly a check will arrive in the mail.
Angela Tomassetti, a Controller at A.R. Fuels, Inc. has used the strategy with great success. “I Mailed 25 IRS collection letters based on this program—15 paid right away without even a follow-up call. These were our most stubborn accounts given one last chance to pay.”
The strategy is powerful, and Mr. Ricci has made it available to everyone. The IRS Advantage comes with the collection letter, step-by-step instructions, pre-formatted MS Word® files, a program example, IRS Form W-9, and a guarantee that this strategy can be used successfully by your business.
This changes the rules of the game. It could be the single most powerful collection tool ever created for stubborn customers who won’t pay.
You can’t beat having the IRS on your side in a collection matter.
About the author:
Ben Ricci develops and offers innovative strategies for businesses to improve working capital and operating cash flow. Discover new ways to speed collections, slash bad debt and lower overall credit costs by up to 60% at the Stevens & Ricci Resource Center or call 888-722-1611.
Tags: The IRS Advantage
