Beware Too Good to Be True Tax Debt Services
When you’re dealing with a tax debt, you don’t necessarily want to do it alone. Alternatively, you want to steer clear of questionable tax relief programs that offer unrealistic outcomes. Many so-called “tax forgiveness programs” or “tax relief programs” are designed to guarantee you everything, but deliver virtually nothing. In some cases, choosing the wrong organization to assist you may end up only costing you time and money.
The Tax Relief Company You Want to Avoid
Although there are many reputable tax resolution companies, there are some you should bypass altogether. For instance, an organization that offers tax debt reductions for “pennies on the dollar” is simply using attractive language for a completely unsupported resolution to your problem. While there is no specific list of language to be on the lookout for when disseminating the good from the bad, if it seems too good to be true, it likely isn’t.
Similarly, tax debt forgiveness programs advertised online or on television that offer little-known loopholes to get out of a tax debt are not to be trusted. Again, the IRS has legitimate resolution plans for which you may be eligible, but the terms will likely be structured around repayment. The IRS may acknowledge that you cannot satisfy your entire liability at once, but you may be expected to pay it back over time.
The Best Tax Relief Companies
The best tax help organizations to involve yourself with are those that offer tax relief services endorsed by the IRS and with payment terms that are within the scope of your financial means. For instance, you may qualify for an IRS Installment Agreement, which allows you to satisfy your tax debt over the course of several years. Such an agreement can be outlined in detail by your resolution company, including how much you’ll be paying per month and for how long.
The cost for your IRS tax debt services, again provided by a trusted tax relief organization, should not be required up front. Additionally, you should not be expected to pay for the cost of tax resolution services and your actual tax debt simultaneously. The consultant or representative with whom you’re working with, will go over this with you, clarifying what you will be paying and when.
The Benefit to Tax Relief Companies
Since getting tax help can be complicated, it pays to entrust this task with a licensed tax professional. You may qualify for a resolution which would not be immediately be suggested if you were to go directly to the IRS; a tax relief company such as the Tax Defense Network can present you with a viable resolution after carefully reviewing all of the factors in your particular case. You may, for example, qualify for Currently Not Collectible status with the IRS, which prevents you from paying anything toward your tax debt for a period of time.
Perhaps the biggest boon to working with a seasoned tax professional is the amount of time that it frees up for you. Rather than spending hours on the phone with an IRS agent or taking your chances by attempting a resolution on your own, a tax pro can shoulder this burden for you. You may wish to reach out to Tax Defense Network, LLC, if you have immediate concerns over a tax debt and receive a no-cost consultation.