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Tax Resolution

Tax Relief Services Offered By Tax Relief Companies

When you run into problems with your taxes there are many services offered to help clear up your problem. It is best to talk with a tax professional to find the best solution for your unique tax problem and financial situation. The IRS has many different filings to help people through different problems. Below is a list of tax services that our partnered tax companies offer to help individuals through particular problems.

How Tax Relief Companies Work: What to Expect With Services

Understand how tax relief companies work. Understanding how their services work is important before making a decision on hiring a company to help you. Most companies work in the same manner, but it is important to not be pressured into signing up with them and it is important to get all your options before making a decision.

Tax Debt Settlement Services

If you would like to settle IRS and/or state taxes a tax relief company can analyze your financial situation and find which tax settlement method would work best for your particular tax situation. There are many different forms of settlements and it is important to get a professional opinion before selecting which one is best for you.

  • Offer in CompromiseWith an offer in compromise a taxpayer can settle their taxes owed for far less than they owe. For this reason, it is one of the most difficult filings to make. Using a tax professional to make this filing greatly increase the likelihood of this filing being accepted.
  • Penalty AbatementIf you would like to remove penalties owed you can have them forgiven with the appropriate filings and showing appropriate proof. Tax professionals are trained and experienced in knowing what the IRS looks for when people file for an abatement.
  • Innocent Spouse ReliefThe IRS does realize that there are times it would be unfair to hold a spouse liable for taxes owed due to a joint tax filing. Innocent spouse relief is a difficult filing and tax relief professionals can ensure the proper paperwork is filed and follow through with filing to ensure all tax liabilities have been lifted from the “innocent spouse”.
  • Payment Plan Negotiation and SetupIf you do not qualify for a method to pay less than you owe a tax professional will find the best method to pay back the taxes you owe under a payment plan authorized by the IRS. A tax professional can find what payment method works best for you and work out an affordable payment plan to pay back the taxes owed for federal and or state taxes.
  • Hardship/Uncollectible ServiceIf you cannot pay your taxes owed it is possible to temporarily stop collection actions of the IRS and be declared uncollectible for a period of time until your financial situation improves enough where you can pay the IRS. In order to do this proper paperwork must be filed to prove your poor financial situation with the IRS.

File Back Taxes Service

If you have outstanding returns that have not been filed for any amount of time, even if you are missing important tax documents, a tax professional can ensure these returns are filed appropriately with the IRS, while ensuring maximum deductions. If you find you owe more taxes than you owe a tax professional can also set you up with a tax settlement.

Remove a Tax Levy

If the IRS has begun to seize assets from you, either through your bank account, wage garnishment or physical seizure of assets a tax professional can halt the IRS. A tax professional can find the appropriate tax settlement method and file the proper paperwork to ensure the IRS does not seize any assets.

  • Stop IRS Wage GarnishmentIf your wages are being garnished by the IRS a tax professional can quickly stop the wage levy and come up with the best solution for you. A tax professional will analyze your tax, financial, and work situation to determine the best course of action.
  • IRS Bank Account Levy HelpIf your account has been frozen, our partnered tax professionals can quickly analyze your situation and come up with the best method to resolve your tax problem and prevent the bank account levy. Find out more on how our service works.

Remove a Tax Lien

A tax lien will remain in place until you have paid off your taxes or until you have made some other agreement with the IRS. A tax professional will be able to find the best way for you to get back into good standing with the IRS to release a tax tax lien while not creating financial hardship for you.

Audit Representation

Did you receive a notice of audit? If you have one of our partnered tax relief firms can represent you in your audit and make sure everything is presented in the correct way. Did you know audits go both ways, a tax professional will review your tax filing to see if there is any other deductions you missed to potentially offset what the IRS finds. Tax professionals have many tactics in audits to ensure things go over smoothly.

Disclaimer: The content on this website is for educational purposes only and does not serve as legal or tax advice. For specific advice regarding your tax situation, contact a licensed tax professional or tax attorney.

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The Right and Wrong Ways to Resolve Tax Issues

Having Uncle Sam breathing down your neck over a tax issue can make anyone seek out a quick fix, but before seeking help from a company, experts advice doing your due diligence.

While there are reputable firms with accredited certified public accountants, enrolled agents and tax attorneys to assist in settling tax issues, there are also unscrupulous companies pledging to resolve tax problems for pennies on the dollar—and that isn’t a reality, claim experts.

Advertisements on TV and radio from companies claiming “we can save you 90 cents on the dollar if you retain us to negotiate the resolution of your tax liabilities” are likely too good to be true, says David Moise, principal-in-charge, Tax Procedure and Controversy Practice at accounting, tax and advisory services firm, WeiserMazars.

“That may be true under certain limited circumstances, but that advertisement seems to indicate that when you go to the IRS, you negotiate a resolution of the tax liability irrespective of your financial ability to pay and that’s not true.”

And it’s not just advertisements, dishonest companies are also reaching out directly to consumers offering their help for a retainer upfront with the promise to settle outstanding obligations.

“If a company says to you, ‘we’re going to charge you some money upfront’ and they go as far as to say ‘we can guarantee that we can cut your obligations by 60, 70, 80%,’ that immediately is a red flag,” says Michael Eisenberg, of Eisenberg Financial Advisors. “There is no way anybody can guarantee that they can cut the tax obligations by any amount until they’ve discussed something with the IRS.”

Rather than entering a potentially risky situation and end up paying more in fees and interest without a resolution, here are three steps the experts recommend taking when faced with tax issues.

Step 1: Contact the IRS

After receiving notice of any outstanding tax obligations or penalties, it’s essential to contact the IRS and address the issue immediately, says Moise.

“If you speak to a revenue officer, he is going to be willing to work with you depending on your circumstances. The revenue officer is going to say you need to submit certain financial information to show me what your ability to pay is and then we can discuss/negotiate a collection alternative.”

If back taxes are owed, Eisenberg recommends doing everything possible to bring the current year up to date before reaching out.

“The IRS is much more likely to work with you if there’s only one year and you’re current on the subsequent years because they realize things do happen, financial issues come about…but if you’ve been good before and you’re good after, there’s a much better likelihood of the IRS trying to help you try to reach an arrangement,” he says. “By doing that, there is nobody you need to pay any additional fees to because you’re able to do it yourself.”

Step 2: Know Your Payment Program Options

Consumers unable to pay off taxes, penalties and fees in full should inquire about their eligibility to participate in the IRS’ offer in compromise program-but be prepared to back up claims of financial hardships with documents and bank statements, says Matthew McGeever, CPA at R&G Brenner Income Tax.

“If I have a $10,000 bill and I can demonstrate to them that I don’t have the wherewithal to pay that but I would be willing to compromise on that for a lesser amount, the IRS is flexible and they will consider it,” he says. “They may require more documentation to prove that you don’t have the wherewithal and they may even say that you do have the wherewithal because we looked at your bank account.”

Depending on their circumstances, taxpayers may also be eligible for the installment payment program.

“Let’s say you owe $6,000 and based on your financial information, you can pay $300 a month until the obligation is paid off,” says Eisenberg. “[But] understand on the installment payment program that interest continues to run on the outstanding balance and you will still owe additional interest until your debt gets paid off.”

Step 3: When in Doubt, Hire an Accredited Professional

Some tax matters get so complicated that it’s best to work with an accredited professional, says BillSmith, managing director of accounting and professional services company, CBIZ MHM.

“Unless it’s a very small amount and you know that you can pay it off over a relatively short period of time…the best thing to do is get to a reputable accountant, tax attorney, specialist, enrolled agent with experience who will explain to you the process and not promise the moon, then you have the facts you can deal with,” he says.

It’s in taxpayers’ best interest to be honest and upfront about their situation and provide the professional handling their case with as many documents as possible to increase their chances of reaching an agreement with the IRS, recommends Eisenberg.

“You could say ‘I took some deductions that I thought were legitimate and honest,’ and the IRS can have a debate with you about that or the amounts of the deductions and you back them up with your paperwork or a third party’s mortgage interest, property taxes, charitable donations–if those things are there, then the IRS is going to allow them,” he says. “Make sure your paperwork is in order, you bring all of the documents to the professional and have a dialogue upfront.”

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