H&R Block and the national tax chains are under attack (again)

WASHINGTON - Jan. 31, 2016 - PRLog -- First the existential threat by the flat tax crowd threatens their whole business model and that of their franchisees. Now comes an insider threat?  Okay, maybe not an "insider" insider, but an insider none-the-less. Enter "My Prepaid CPA Inc.", the brainchild of a CPA known in closely held circles as the grandfather of counter insurgent financing because he designed and later helped field the system the U.S. Government used in Iraq to track sources of illicit cash. The same guy developed coding protocols to be used by military pay systems to stave off some IRS inquiries made to our armed forces.  He’s no stranger to taking on complex, diverse issues and winning.

Started as a way for CPA firms to integrate with investment firms such as Scottrade® and Merrill Lynch® to service the tax needs of their clientele, they realized they could also take on the institutional chains and maybe penetrate some of the self-prepare market. How? Rather than sit down with a CPA to get a tax preparation quote, they developed an online capability for anyone to use as a price shopping tool and as of this writing, none of the national chains provide this same type of service and guarantee the result.  This company does.  If they have a CPA assigned to the taxpayers area and they like the quote, they can pay for it before they leave the website and lock in the rate for this years’ tax preparation. They are currently operational in 46 States giving them a near nation-wide capability right out of the gate.

So can they actually take on the institutional chains? Time will tell, but clearly it’s a big win for those taxpayers who can know what a professionally prepared tax return will cost them ahead of the actual work being done and instead of some input clerk taking a swag at it.  Should everybody get a CPA to prepare their taxes?  "No" says company spokesman Richard Arsenault, "Some people are very comfortable preparing their own taxes and that's fine.  If they find themselves with a new tax event they are not comfortable with, they should consider going to a CPA for that year to learn how a CPA handles it, then pick back up the next year as a self-preparation".  Interested in learning more or receiving a quote?  Visit them on their secure website at https://www.myprepaidcpa.com