IRS Briefing and Update for Credit Counselors Included at Industry Education Conference
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The Internal Revenue Service (IRS) will brief and update the credit counseling industry at the Spring Conference of the American Association of Debt Management Organizations (AADMO) in New Orleans on May 5, 2008.
According to Mark Guimond, Executive Director of the AADMO, the largest trade association for the credit counseling industry, “the IRS has increased the number of industry audits by another 111 to a total of 254 - this represents the vast majority, if not the entirety, of the operating industry that will be audited.”
“If you work for a 501(c)(3) tax-exempt credit counseling agency you need to prepare for your audit. The time for a “reality-check” is before, not during or after, an audit. This may be the most important educational opportunity ever for your organization,” said Guimond.
“This conference will focus on the audits to come, those in place, those on appeal, those that are completed and an ever changing credit counseling industry. With so many issues critical to this industry pending before the IRS, we are pleased to have this opportunity for the IRS to brief credit counseling on the status of its evaluation of the industry”, added Guimond.
For more information, visit aadmo.org