About Us

NetCPA's is a CPA firm concentrated on Xero based out of Breckenridge. Terry Power, CPA, is the principal. Terry focuses exclusively on providing Xero-based accounting solutions for small businesses.

He currently has Xero clients in Denver, Summit and Eagle Counties, with plans to expand to anywhere in the US a client needs Xero.    

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Feb 03

The Pathetic State of the IRS

Posted by Terrence Power, CPA at Wednesday, February 03, 2016

I’ve been representing taxpayers for almost 40 years in front of the IRS as a CPA.  While dealing with the IRS was oftentimes difficult, it has never been utterly impossible like the way it is now.  

Congress, and the president, have refused to fund the IRS resulting in massive layoffs.  The workload for those remaining has increased at least tenfold due in large part to administration of the Affordable Care Act (aka Obamacare).

Tax practitioners can no longer contact the IRS electronically.  Instead of moving forward with new technology, the IRS has actually taken away the tools we used to have at our disposal.  Our phone calls are not answered or returned, letters are ignored, due process is trampled upon, errors by the IRS are rampant, and the cost to the taxpayer is huge through increased professional fees and additional time commitments along with erroneous assessments and penalties.

I read an article recently that claimed for every dollar the IRS is budgeted they collect six dollars in  taxes.  A 600% return on investment!  Only an idiot would walk away from that kind of investment.

As a practitioner I expect my clients to be treated by the IRS fairly, courteously, in a timely and accurate fashion, and with minimum cost and effort.  Unfortunately I can only tell you that under the present administration you shouldn’t even hope for the best, just the expect the worst and be prepared to bleed money and time when tax time rolls around, and pray you never get a notice or audit letter.  Write your congressmen and senators, and when election time is here make sure your votes count.

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