Tax Relief Services – How to Find the Right One?

tax relief services

Are you looking for the right tax relief services company? Among the pool of many, it is difficult to find yourself a company that is there to genuinely help you out with your tax issues. However, with the right knowledge and tips, you can weed out the scam artists and connect with the companies that offer legitimate taxation services. Here are some factors that will help you determine which tax relief service is right for you and how to choose one:

1. Offer in Compromise in Tax Relief Services

In your attempt to find out the best tax relief services, you might come across people who will promise you reduced owed amounts and guaranteed settlement through the OIC. If you see the firm guaranteeing you an offer in compromise settlement, it’s a red flag. There is no tax relief service that can guarantee you an OIC settlement. The IRS first assesses your eligibility for an OIC settlement and then decides if you deserve it or not. It doesn't hand out OIC to just anyone.

2. Interest and Penalties

Another red alert is when a tax relief service company tells you that by hiring them, your interest and penalties will be stopped. The truth is that as long as you have due balance, the interest will run. Yes, some penalties can get abated. But you have to know that just because you hired a professional tax relief service, you can’t stop paying or filing your taxes without facing the consequences. Genuine tax professionals claim to help you reduce your interest and penalties to the minimum, not to stop them.

3. The Person Working on Your Case

All the tax resolution firms are required to have licensed attorneys, CPAs, and Enrolled Agents (EAs). This should not be seen as a selling point. There are many firms that don’t get licensed tax professionals for the beginner’s stage. What you have to look out for is who is handling your case during the consultation and proposal stage.

4. Researching Before Hiring a Tax Relief Services

If the tax relief service is trying to get you to sign the power of attorney or work agreement or get you to pay the money in a hurry, be more careful. It might mean that they are hiding something. You need sufficient time to research the company before you make the payment. If the tax relief services have sent you a contract or proposal to start the work, make sure that they have added evidence of their personal license. Before agreeing to anything, take the time to research. It can protect you from untold frustrations and save you hundreds and thousands of dollars.

5. Multiple testimonials and reviews

Check out the tax relief services on the Better Business Bureau. They have the ability to track and report complaints from different verified customers. You can also check out online reviews and talk to other people who have used the same tax relief service. Taking recommendations from people you know and learning from their experiences is the best way to know about the tax relief services.

6. Promises - Tax Resolutions

While approaching a potential client, some sales consultants make big promises on behalf of the tax relief service. You should be skeptical of them. A tax relief company that can tell you ‘no’ when asked for guaranteed results shows signs of ethics, honesty, and knowledge. There is no tax expert that can guarantee to eliminate the majority of your tax debt. A good tax expert will spend a lot of time explaining why you are not eligible for a reduced settlement. 

The basic point is, it sounds too good to be true, it most probably is. You don’t want to work with a tax relief service that over-promises and under-delivers.

7. Flat-fee in Hiring a Tax Resolution Services

This is a major factor that you should take into consideration while selecting the right tax relief service for you. Look for any fixed hidden charges that you might need to pay later. Make sure that you pay close attention to the fine print in the work agreement. What you will see in the contract are a few sentences that state that the company has the right to charge more money from you.

8. Ethics and Character Tax Relief Services

This is a very simple factor. You can get an idea of their true character by knowing about their involvement with the community. For example, when they are working with charities, doing pro-bono work, and other acts of ethical behavior on a corporate level. These signs show that the organization works for the betterment of the community.

On that note, if any sales consultant is telling you or implying that they have some special connections with the IRS or they get preferential treatment from the Revenue Officers, you have to run the other way. Not only are they lying but are in direct violation of the guidelines issued by the US Department of Treasury. According to this, there are some legal issues associated with practicing before the IRS that include marketing practices. If the tax relief service is willing to bend the law for earning your business, their moral compass and ethical standards come into question.

When you are looking for a tax relief service, you might meet with many sales consultants. Some of them will claim that their company has been in business longer than they actually are. Then, there will be some who are bragging about their combined years of experience. This does not work in your favor at all. It is because you won’t have 20 people working on your case, just 1 or 2. To get an exact idea of how long the company has been around, you can check them on the BBB’s website. To get a precise date, you can check the website of the Secretary of State where the company is located.

Now that you know-how, you can find the best tax relief services for you. With just a little bit of knowledge and research, you can easily find out if the tax relief company is right for you. Make sure that you have a few conversations with them before you sign them on. Investing a small amount of time in finding the right service will ensure that you are in good hands.

Tax Relief Services During Coronavirus

Tax Relief Services

Getting tax relief services during a global pandemic can help. Fortunately, there's help with FinishLine Tax Solutions. If you owe back taxes and can't afford to pay them back, find a tax relief services professional. Dealing with back taxes can be hard, but it's especially hard during a global pandemic. Fortunately, the federal government continues to provide tax relief options for taxpayers seeking relief during the coronavirus. Even outside of a global pandemic, there are tax relief services available to taxpayers who owe more than they can pay. We'll share the various tax relief options that are available to you. Additionally, we'll touch on tax relief options that are available as a result of the COVID-19 pandemic.

What are tax relief services?

First, we want to tell you exactly what tax relief services are. If you owe more in taxes than you can pay, you may be eligible for tax relief services. But, the program you qualify for will depend on how much you owe. In other words, those owning more than $50,000 will be eligible for a different program than those owning $10,000. Fortunately, there are several tax relief programs available. Additionally, in light of the current COVID-19 pandemic, the federal government has offered even more tax relief programs.

How do tax relief services work?

Tax relief services are available to taxpayers when they owe more than they can pay. The IRS has several tax relief services that can help taxpayers in need. Enrolling in a tax relief plan enables you to break down your tax debt into payments. Similarly, there are relief programs that can reduce the amount of tax you have to pay to the government. Tax relief services will not clear out your entire tax bill. But it can save you a lot of money in the long run. Additionally, it can make paying what you owe the government a lot more manageable.

What is tax relief?

Tax relief is when you set up a payment plan or negotiate a settlement with the IRS. However, keep in mind that tax relief isn't about totally erasing your tax obligation. Instead, it makes it easier for you to pay back your tax debt. In some cases, you may be eligible for special tax relief options. For instance, if you've been involved in a natural disaster, you may be eligible for special tax relief programs. Additionally, there are special tax relief programs available in light of COVID-19, which we will discuss later.

What are my tax relief services options?

Depending on your tax situation, there are multiple options for tax relief services. Here are a few programs to consider. We will discuss these more in-depth further below.

  • Installment Agreement: This program allows you to pay back your debt in installments. In other words, you can pay down your debt in smaller payments. There are long-term and short-term Installment Agreement programs. Available.
  • Offer in Compromise: If your debt is more than you can handle, you may be eligible for an Offer in Compromise. Your eligibility for an Offer in Compromise will depend on a few things. In other words, the IRS will first consider your ability to pay, income, expenses, and assets first.
  • Penalty Abatement: When you owe tax debt, penalties can also add up. Fortunately, there are tax relief services that may help. In this case, the IRS forgives the penalties on your tax bill.

What is an Installment Agreement?

Another way to think of an Installment Agreement is a payment plan. In other words, you arrange with the IRS to pay back your tax debt in monthly installments. There are long-term payment plans and there are short-term payment plans.

  • A short-term payment plan is for those who owe a maximum of $100,000. This maximum amount includes taxes, penalties, and interest.
  • Long-term payment plans are for those who owe a maximum of $50,000. This maximum amount includes taxes, penalties, and interest.

An Installment Agreement can be a helpful tax relief plan for taxpayers. It enables you to negotiate an affordable monthly payment plan with the IRS. However, negotiating your monthly payment is a very important step. In other words, you'll want to work with a tax relief specialist on negotiating. A tax relief specialist can help you ensure you get an affordable monthly payment amount.

Offer in Compromise

An Offer in Compromise program can be a beneficial tax relief program. With an Offer in Compromise, you can often settle your tax debt for much less. In other words, the IRS will reduce some of your overall tax debt. But, it's important to note that not everyone will get approved for an Offer in Compromise. The IRS will require financial proof that you are unable to pay back your tax debt in full. In this case, a tax relief professional can help you negotiate your total settlement amount. For example, you don't want to come up with a number that's too low. In other words, you can run the risk of having the IRS deny your Offer in Compromise agreement amount if it's too low. Therefore, working with a tax relief professional can help you get the best deal.

Penalty Abatement

Another tax relief service is penalty abatement. In this case, you can get the IRS to release the penalties you have on your tax debt. However, it's important to note that a penalty abatement will not totally reduce your tax debt. In other words, you will still owe taxes with a penalty abatement. However, it's a tax relief program that can greatly reduce your overall tax debt.

Tax Relief for COVID-19 Pandemic

In light of the current COVID-19 pandemic, the federal government has announced several tax relief services. First, taxpayers now have until July 15 to file and pay back their taxes. This date was extended from the original tax deadline of April 15. However, it's not advisable to delay paying or filing taxes. Work with a tax relief specialist to pay back any debt you cannot afford to pay at once. In addition, the federal government has offered a federal stimulus check available to the majority of taxpayers. The stimulus check amount starts at $1,200 and decreases based on your total earnings. Furthermore, the IRS is making it possible to borrow up to $100,000 from your IRA. In addition, the federal government will allow you three years to pay this back. Furthermore, you get three years to pay off tax debt without consequences.

Need Tax Relief Services?

During these uncertain times, tax relief services can be of the utmost importance. If you have tax debt that you can't pay back, don't hesitate to call us. We can help you with tax relief options and more. Call FinishLine Tax Solutions for a free consultation at 855-950-2720.