When it comes to dealing with large tax debts, many taxpayers enlist the services of a tax resolution company. Often times, lower tax debt amounts can be resolved without as much scrutiny by the IRS. In either case, a payment plan is often necessary to handle the tax debt to completion.
Apart from the payment plans’ qualifying factors, there are additional concerns that a taxpayer must consider when resolving back taxes. First, penalties and interest continue to accrue, regardless of the plan that’s selected. When considering plan approval, the IRS will review the reason the individual did not pay the taxes on time, the financial situation of the taxpayer, and major life changes that contributed to the problem. As tax lawyers have knowledge and experience in resolving tax debt cases, they can provide a clear analysis of the case and create a successful resolution.
Choosing the Appropriate Service
When choosing a tax resolution service or a tax professional, confirm that the individual(s) is experienced in resolving tax debt cases. Tax lawyers tend to specialize in specific areas of the tax code. Most tax resolution services house personnel that have expertise and the necessary qualifications for resolving individual liabilities. You may request a free consultation to learn more about their services, their staff’s qualifications, the approximate time the resolution would take, and the total cost of the resolution.
You may also conduct research online to find out more about the history and experience of the tax professionals you’re considering. Reading customer reviews can also help you to make an informed decision
Staying Safe from Fraudulent Services
Some organizations within the tax resolution industry engage in questionable or fraudulent practices. To avoid dealing with the wrong organization, be thorough when conducting your research. You may use information from your friends, family and colleagues to find a reputable tax service, or rely on trusted online resources.
The Better Business Bureau (BBB) reviews companies and ranks them according to their service. Another good resource to get customer reviews is the federal Trade Commission (FTC) website. When conducting research online, be sure to use only trusted sources. Even though online complaint boards have gained popularity, they cannot be depended upon to get authentic opinions or facts, as they often don’t possess legitimate credentials.
A tax relief service can provide a smooth, quick and favorable resolution if you choose the right company. Putting forth a little effort in your research can go a long way when it comes to the final outcome of your tax debt.