Kimberly Draper, Elite Tax Preparers, on IRS Tax Resolution, Strategic Tax Planning, and Payroll Tax Compliance (North Fulton Business Radio, Episode 933)
On this episode of North Fulton Business Radio, host John Ray welcomes Kimberly Draper, CEO of Elite Tax Preparers. Kim brings 32 years of IRS experience, including roles as a Revenue Officer and Senior Operations Advisor, to help businesses and individuals navigate tax problems, reduce tax liability, and maintain compliance. As an Enrolled Agent licensed to practice in all 50 states, she provides expert representation before the IRS backed by rare insider knowledge of agency enforcement priorities.
Kim shares how understanding IRS thinking prevents costly mistakes. She details a case where a business owner facing $270,000 in unpaid payroll taxes planned to file bankruptcy, unaware this would not eliminate the debt and would trigger personal liability through trust fund recovery penalties. Kim also explains how she saved an Airbnb property owner $14,000 by properly depreciating furniture and appliances that do-it-yourself software missed, and discusses how working with fraudulent tax preparers can result in 75% fraud penalties when the IRS discovers fabricated credits or deductions. She emphasizes that the IRS prioritizes taxpayer compliance over collections, requiring on-time filing and payment as conditions for installment agreements and offers in compromise.
John Ray is the host of North Fulton Business Radio. The show is produced by John Ray and North Fulton Business Radio, LLC, an affiliate of Business RadioX®, and is recorded inside Renasant Bank in Alpharetta.
Key Takeaways from This Episode
- Unpaid payroll taxes trigger trust fund recovery penalties that make business owners personally liable, and bankruptcy does not eliminate these debts or stop the IRS from pursuing personal assets
- The IRS wants compliant taxpayers more than money, requiring on-time filing and payment as conditions for installment agreements, and monitoring taxpayers for five years after accepting offers in compromise
- Proper asset depreciation and expense tracking through professional bookkeeping can save business owners thousands in taxes that self-preparation software overlooks
- Working with fraudulent tax preparers results in 75% fraud penalties on top of taxes owed, and the IRS tracks patterns across preparers using their PTIN numbers
Topics Discussed in this Episode
00:20 John Ray introduces the show and guest Kimberly Draper
02:23 Kimberly Draper introduces Elite Tax Preparers
02:32 Services including tax resolution, planning, and preparation
03:09 Kim’s 32-year IRS career and insider perspective
04:04 How Enrolled Agents can represent clients before the IRS
04:35 Case study: $270,000 in unpaid payroll taxes and trust fund penalties
08:17 Why the IRS aggressively enforces payroll tax compliance
09:45 Common misconceptions about the IRS and collections
10:56 The IRS prioritizes compliant taxpayers over putting people in jail
12:27 The biggest mistake: ignoring IRS notices and hoping problems disappear
14:08 How to stay off the IRS radar through compliance and timely filing
15:35 The importance of hiring payroll services and professional bookkeepers
17:24 Case study: $900,000 bookkeeping discrepancy discovered at a family business
18:27 How tax planning identifies savings opportunities
20:03 Case study: Saving a doctor and real estate agent $102,000 annually
20:44 How the IRS monitors Enrolled Agents and tax preparers for fraud patterns
21:41 Case study: Fraudulent energy credits claimed for renters
24:05 When to call a tax professional for help
24:21 Case study: $70,000 incorrect assessment on a proper 401k rollover
26:27 Case study: Saving an Airbnb owner $14,000 through proper asset depreciation
30:36 Contact information for Elite Tax Preparers
Kimberly Draper, CEO
Strategic tax resolution requires more than just knowledge of the law. It requires an understanding of how the IRS thinks. As an Enrolled Agent and retired IRS veteran, Kim Draper’s 32-year IRS career included pivotal roles as a Revenue Officer and Senior Operations Advisor. This enables Kim to possess a rare insider perspective on the agency’s enforcement and strategic priorities.
Kim’s distinguished career is marked by her deep technical expertise in tax adjustments and the complex landscape of IRS collections. She specializes in the management and review of high-level collection cases, including Offers-in-Compromise and sophisticated installment agreements.
Now leading Elite Tax Preparers, she leverages this unique background to provide expert representation, tax resolution, tax return preparation, strategic tax planning, and bookkeeping. Licensed to practice in all 50 states, she is dedicated to navigating the complexities of the tax code with the precision and confidence that only 32 years of insider expertise can provide.
Elite Tax Preparers
Elite Tax Preparers’ two Enrolled Agents leverage a combined 37 years of IRS career experience to provide expert tax representation, tax resolution, tax return preparation, strategic tax planning, and bookkeeping.
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Renasant Bank supports North Fulton Business Radio
Renasant Bank has humble roots, having started in 1904 as a $100,000 bank located in a Lee County, Mississippi, bakery. Since then, Renasant has grown into one of the Southeast’s strongest financial institutions, boasting over $26 billion in assets and more than 280 offices offering banking, lending, wealth management, and financial services throughout the region. All of Renasant’s success stems from the commitment of each banker to invest in the communities they serve, which in turn helps them better understand the people they serve. At Renasant Bank, their banking professionals understand you because they work and live alongside you every day.
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Beyond Computer Solutions supports North Fulton Business Radio
Whether you’re a law firm, medical practice, or manufacturer, there’s one headline you don’t want to make: “Local Business Pays Thousands in Ransom After Cyberattack.” That’s where Beyond Computer Solutions comes in. They help organizations like yours stay out of the news and in business with managed IT and cybersecurity services designed for industries where compliance and reputation matter most.
Whether they serve as your complete IT department or simply support your internal team, they are well-versed in HIPAA, secure document access, written security policies, and other essential aspects that ensure your safety and well-being. Best of all, it starts with a complimentary security assessment.
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About North Fulton Business Radio and host John Ray
With over 900 episodes and having featured over 1,400 guests, North Fulton Business Radio is the longest-running podcast in the North Fulton area, covering business in our community like no one else. We are the undisputed “Voice of Business” in North Fulton!
The show invites a diverse range of business, non-profit, and community leaders to share their significant contributions to their respective markets, communities, and professions. There is no discrimination based on company size, and there is never any “pay to play.” North Fulton Business Radio supports and celebrates businesses by sharing positive stories that traditional media ignore. Some media lean left. Some media lean right. We lean business.
John Ray is the host of North Fulton Business Radio. John and the team at North Fulton Business Radio, LLC, an affiliate of Business RadioX®, produce the show, which is recorded inside Renasant Bank in Alpharetta.
The studio is located at 275 South Main Street, Alpharetta, GA 30009.
You can find the entire archive of shows by following this link. The show is accessible on all major podcast apps, such as Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, and many others.
John Ray also operates his own business advisory practice. John’s services include advising solopreneurs and small professional services firms on their value, their positioning and business development, and their pricing. His clients are professionals who are selling their expertise, such as consultants, coaches, attorneys, CPAs, accountants, bookkeepers, marketing professionals, and other professional services practitioners.
John is the author of the five-star-rated book The Generosity Mindset: A Journey to Business Success by Raising Your Confidence, Value, and Prices, praised by readers for its practical insights on raising confidence, value, and prices.
