Find American Rescue Plan Client Advisory Opportunities with Predictive Intelligence

When the American Rescue Plan Act of 2021 (ARPA) was signed into law, it provided much-needed support and economic relief to the American people during the coronavirus pandemic. Your individual clients may receive direct stimulus payments and additional child tax credits, while businesses may benefit from additional paid sick and family leave credits and added PPP funding. To find these American Rescue Plan client advisory opportunities, firms can use the latest predictive intelligence tools.

Because of the range of topics – and tax years – covered by the American Rescue Plan Act of 2021, your clients may also be experiencing confusion and uncertainty about how (or if) specific provisions of the bill apply to them. Due to this confusion, these clients are undoubtedly reaching out to you for information, wanting to know what parts of the American Rescue Plan Act of 2021 affect them.

For tax professionals like you, this legislation offers many opportunities to either:

  • Provide your clients sound advisory services when they need you the most, or
  • Become bogged down in the tedious work of combing through old tax returns, gathering documentation, and communicating the same message to clients over and over again

When huge tax legislation gets dropped in your lap during busy season, it’s easy to go into survival mode. You might be tempted to focus on churning out more tax returns, leaving the “nice-to-have” customer service in the margins.

The good news is that this tax season, it’s easier than ever to have the best of both possible worlds.

Smart Workflows

When the going gets tough, the tough get smart; and for tax professionals, one of the easiest ways to do that is to rely on the client data you already have. Tools like CCH Axcess iQ places your client data at your fingertips. It provides a shortcut for your advisory services workflow and empowers you to offer clients their own rescue plan.

Take this as an example: one of your VIP clients calls you up this Thursday night (you’re still in the office) and wants details on all provisions of ARPA that apply to her. You could go off memory, but it’s 8:30 and you haven’t had dinner. In order to supply the best spur-of-the-moment advisory services to your client, you will need good data, thorough research, and the words to say to your client. Here is the workflow we would suggest:

Crunching the Data

While your client is still on the phone, launch your Client Dashboard and review their list of iQ events with them. You know this is a good list, because it is generated by the iQ big data pipeline. CCH Axcess iQ churns through your current- and prior-year tax returns and matches them up with current events. Nothing has slipped through the cracks. Just glance through the list of events!

Leveraging the Research

Each event includes in-depth editorial analysis with links to CCH AnswerConnect. With just a few clicks, you can brush up on the finer points of each event. Your clients will think you’re a genius!

Relaying the Message

With a comprehensive look at how ARPA affects your client, you need ready-made communication that encourages your client to act. Client letters for each event give you the best verbiage to communicate to clients how the event affects them.

All this can all be presented to you in short order…all while you have your client on the phone.

Take action

Find American Rescue Plan client advisory opportunities with predictive intelligence. CCH Axcess iQ already has several ARPA-related events waiting for you, with more coming soon. Upgrade your tax advisory services workflow with very little effort. Schedule a demo with your CCH account rep today.

AUTHOR

Jonny Rector

Senior Technology Product Manager

All stories by: Jonny Rector