Doing business in the private sector is in some ways similar to doing business with the IRS, but federal contracting has some specific requirements that you should be aware of.
The Internal Revenue Service (IRS), the largest of U.S. Department of Treasury’s bureaus, has $2.5 billion in contracts a year, according to its official website. It means that you, as a small business owner, have the possibility of doing business with this federal agency.
Obviously, you have to prepare yourself and take some basic steps to be ready for federal contracting, but once you have done this, you will be closer to becoming an IRS provider.
Doing business with the IRS
Overall, the Department of the Treasury purchases a wide range of products and services, from packaging materials to highly complex computer equipment and services. During FY 2015, for example, its procurement expenditures were approximately $5.6 billion and a good portion of this corresponded to the IRS.
If you are a small business owner and are interested in contracting opportunities with this agency, take a look at these general steps to get started:
1- Review the Treasury and IRS websites to find out what types of opportunities are available for your firm. While the Treasury website contains the Treasury Forecast of Procurement Opportunities, the IRS portal includes information on doing business with the IRS, business opportunities, among other relevant topics.
2- Register your firm into the System for Award Management (SAM) and ensure that you indicate your small business size information under Company Type. This allows IRS and other Treasury bureaus to search the database and find company matches for upcoming procurement opportunities. If you are already registered in SAM, ensure that your entry has no errors.
3- Review your Dynamic Small Business Search profile under SAM and verify if your data is correct and accurate.
4- Register at the Federal Business Opportunities website to receive all notices from selected organizations and product service classifications. Procurement opportunities are also posted at sam.gov. You can also submit your capability statement to the Department’s Office of the Procurement Executive at email@example.com.
5- If your company accepts the Government MasterCard for the purchase of products and services, email the information requested for the IRS Purchase Card Newsletter. In case your company product or service is something the cardholder requires, they will call you for a price quote.
6- For information on how small businesses can participate in Treasury contracting, contact Treasury’s Office of Small and Disadvantaged Business Utilization at treasuryOSDBU@treasury.gov. You can also contact the Small Business Program Office for any further questions.
7- To get expert guidance on how to do business with the federal government, and specifically with the IRS, simple contact us:
- (888) 595-6221
FY 2022 begins on October 1; hence, this is a perfect time for you to start your journey as a federal contractor.