Mar 9 (edited) • Main Group Chat
$25K in 90 Days | Benefits of Obtaining an EFIN | Level 2
One of the biggest steps you can take toward building a real tax business is obtaining your own EFIN (Electronic Filing Identification Number). An EFIN allows you to become an IRS Authorized e-File Provider, meaning you can file tax returns directly with the IRS under your own business instead of waiting for someone else to review and transmit them.
Right now many of you are preparing returns and waiting on me to review and e-file them. When you have your own EFIN, that changes everything. You control when returns are filed, your prep fees go directly to you, and you don’t have to wait for Friday payroll runs. It also allows you to grow a team of preparers under your EFIN, meaning you can earn additional revenue from every return filed through your office.
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Benefits of Having Your Own EFIN
⚡ Become an IRS Authorized e-File Provider = File tax returns directly with the IRS.
🚀 No Waiting for Reviews = You control when returns are transmitted.
💰 Prep Fees Go Directly to You = No waiting for someone else to run payroll.
👥 Grow Your Team = Add preparers under your EFIN.
📨 Earn E-File Fees = You collect the e-file fee on every return filed through your office.
🏢 Build Your Own Tax Business = Operate independently and scale your operation.
Example of the Revenue Difference
Let’s compare a new tax preparer using only a PTIN vs operating with their own EFIN.
PTIN Only (Typical First-Year Tax Pro)
📊 Average: 25 returns per year
25 clients × $300 prep fee= $7,500
That’s the total revenue.
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With Your Own EFIN
Year 1
25 clients × $300 prep fee = $7,50025 returns × $58 e-file fee = $1,450
💰 Year 1 Total = $8,950
Year 2 (Client Growth)
Your original 25 clients
- 25 new clients
50 clients × $300 prep fee = $15,000
50 returns × $58 e-file fee = $2,900
💰 Year 2 Personal Production = $17,900
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Now Add a Team
Let’s say you add 3 preparers under your EFIN (Dr. Geno will train them).
👥 3 preparers × 25 returns each= 75 returns
75 returns × $58 e-file fee= $4,350
Your Total Revenue Example
Your personal production = $17,900
Plus e-file fees from your team:
75 returns × $58 = $4,350
💰 Total = $22,250
And that’s with a very small team and modest return volume.
As your preparers grow to 50, 100, or more returns, the e-file fee revenue continues to increase without you preparing those returns yourself.
This is how you go from being a tax preparer to running a tax office.
Your EFIN gives you the infrastructure to scale.
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1️⃣ Faster E-File = You have direct e-file permissions.
2️⃣ More Revenue = E-file fees are paid directly to you.
3️⃣ Grow Your Team = Add unlimited tax preparers to your office.
4️⃣ Your Rules = No more waiting for return reviews or approvals.
5️⃣ Direct Deposit Prep Fees = All preparation fees are deposited directly into your account.
6️⃣ IRS Authorized E-File Provider = You become an officially recognized IRS e-file provider.
7️⃣ Build Your Brand = Operate under your own business identity.
8️⃣ Increase Client Trust = ⁉️ You become an Authorized E-File Provider
9️⃣ Scale Your Business = Grow from a single preparer to a full tax office
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$25K in 90 Days | Benefits of Obtaining an EFIN | Level 2
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