How Do You Vet Vendors and Tax Strategies at TaxPlanIQ?

At TaxPlanIQ, we know your clients’ trust depends on the quality, legality, and integrity of every strategy inside our platform. To protect that trust, we conduct a thorough due diligence process on both vendors and the tax strategies they provide before anything is added to our Strategy Library.

This overview will show you the rigor and care that goes into each decision.

Strategy Due Diligence

Every new strategy goes through a structured evaluation that considers three main questions:

Is it legally sound?

We confirm the relevant tax authorities (Code sections, regulations, IRS guidance) and determine whether the strategy has been flagged by the IRS as a “listed transaction”.

Does it have a real business purpose?

Beyond potential tax savings, we look for legitimate non-tax benefits (such as employee retention, succession planning, or wealth preservation).

What is the potential impact and risk?

Strategies are scored for audit risk, structural complexity, and client suitability. Strategies with high risk or limited applicability may be rejected or accepted only with caveats.

Can it be implemented responsibly?

We assess feasibility, including whether outside valuations or counsel are required, what disclosures or filings are needed, and how easily tax professionals can integrate the strategy into planning.

Vendor Due Diligence

When a strategy involves a third-party vendor, that vendor is also vetted. Our review focuses on:

Company reputation and history: years in operation, leadership background, insurance coverage, and any regulatory or legal concerns.
Client outcomes: past performance, success rates, and how the vendor resolves disputes or complaints. • Compliance practices: adherence to IRS regulations, data privacy/security safeguards, and independent reviews or audits.
Transparency: clarity around costs, refund policies, risks, and ongoing support. • Education & resources: materials provided to help advisors and clients understand and responsibly implement the strategy.

Ongoing Monitoring

Our work doesn’t end once a strategy is approved. We maintain a system of ongoing review that includes:

Periodic re-evaluation of strategies against updated IRS guidance or legislative changes. • Monitoring vendor communications for changes to offerings or terms.
Feedback loops from our advisor community to capture real-world results and concerns. • Internal compliance sign-offs and education updates to ensure our team and our users have the latest,

most accurate information.

Client Assurance

Our commitment is to deliver a Strategy Library that is responsible, compliant, and practical. Every strategy and vendor is evaluated with the goal of helping you provide tax savings opportunities while protecting your practice and your clients.

We do not publish proprietary scoring systems, attorney memos, or internal tools, but you can be confident that our process is designed to uphold the highest professional standards.

Disclaimer: This overview is for informational purposes only and does not constitute legal or tax advice. Tax professionals should exercise independent judgment and consult their own counsel where appropriate.