Key Things to Look for in a Tax Relief Firm
No one wants to get on the wrong side of the IRS, yet that is where millions of taxpayers find themselves each and every year. As enforcement efforts ramp up at the IRS, the number of letters and communications landing in mailboxes is continuing to increase and one of them could land in your mailbox.
If you do receive a notice from the IRS, it is important to act fast, especially if you cannot afford to pay what the IRS says you owe. You may be tempted to do nothing or ignore the situation, but every day you wait will just make an already bad situation that much worse.
The good news is you may not have to pay what the IRS says you owe! There are a number of programs designed to give taxpayers relief, in many cases allowing them to settle their tax debts for much less. You also may be able to contest the amount it claims you owe. But before you can enjoy financial relief, you need to find the right partner, and here are some key things you should consider.
The Right Tax Relief and IRS Negotiation Experience.
When you hire a tax relief law firm, you will be hiring a team that focuses on tax relief. It is important that the person who works on your case will be up to the task. It is important to look for specific areas of knowledge and experience. There are all kinds of lawyers. There are also CPAs and Enrolled Agents. They must not just be a lawyer, CPA, or Enrolled agent, they need to be someone who deals with these types of problems all day long. A generalist is not who you need. How much of their typical workday do they work only on these types of problems - tax relief?
The best tax relief law firms are not necessarily huge firms; some of the best are small firms with extensive experience. But no matter what the size of the firm, the tax resolution focus of the person working on your case is what matters the most. We don’t do divorces, auto accidents, or most everything else. We focus on tax resolution. Whoever you hire should, too.
Compassion and Understanding
Dealing with the IRS is not just a financial problem; it is an emotional one as well. Getting a letter from the IRS is bound to be an upsetting and unsettling experience, and working with a compassionate and caring tax law firm can help a lot.
You should not, of course, sacrifice knowledge and capability for compassion, but there is no reason you cannot have the best of both worlds. Look for someone who cares about you and your situation as you interview lawyers and tax relief firms and choose the one you feel best about working with.
Recent IRS Success Stories
The IRS is a huge agency, and the tax code is endlessly complex. That enormous complexity and ever-growing structure means that past experience may no longer be relevant, so look for recent experience of people who know the firm. A good place to look is at the Google Reviews of the firm.
Chances are if the people who wrote the review had a good experience, the professionals in that firm know what they’re doing which increases the possibility of a favorable outcome. Working with these lawyers can give you peace of mind and make it easier for you to resolve your tax problem.
Getting a letter from the IRS can be a scary experience, but it does not have to be the end of the world. You do not have to suffer financial devastation or go bankrupt to settle the debt you owe. Now that you know how to find a great tax relief partner, you no longer have to live in fear of your next trip to the mailbox.
Do You Owe Back Taxes? Take These Steps to Protect Yourself and Your Finances
Few things are as frightening as opening the mailbox and finding a letter from the IRS, especially when you know you owe them money! The much-feared IRS does not contact taxpayers just to say hello. It’s not known for being kind, gentle, and understanding. Receiving communication from them is not likely to be good news.
When your heart stops pounding, and you get the courage to open the letter, you get another shock. The IRS says you owe a lot of money. It’s an amount you cannot possibly afford. So what do you do, and how do you react?
The steps you take next could make all the difference. Here are some immediate actions you need to take right away.
Step #1 - Stop Panicking, Take Action
If you owe back taxes, our firm can help negotiate with the IRS for a payment plan or to settle your tax debt for a lower amount. Call us today. Our law firm can navigate the IRS maze so that you stop worrying and not have to face them all alone.
If you think you don’t owe them, you need to make a case for why you think the assessed taxes are wrong. You will need to back it up with proper documentation and proof. Sometimes, the letter you received from the IRS can be a result of a discrepancy, meaning there is a mismatch between what was reported on your return and the figures the IRS received through other means. There could be many reasons for this discrepancy. There could be an innocent and inexpensive explanation and resolution.
Getting a letter from the IRS is not fun, but it is not the end of the world either. Even if you owe the taxes the IRS says you do, you may be able to negotiate a payment plan or if appropriate an offer in compromise - a negotiated settlement, sometimes a much lower amount. Getting professional legal help can make a big difference.
Step #2 - Find the Tax Return in Question
The communication you received from the IRS will reference a specific tax year, so finding and reviewing that return as quickly as possible is important. Hopefully, you have retained records that include your recent tax returns, either in paper or electronic form. If not, you can request a copy from the IRS or contact your tax preparer.
Once you have your tax return in hand, you can review it carefully, looking for the discrepancies in question and seeking out your backup information. The problem could be something like a capital gain you forgot to report or a transposed number as you were entering your income information. Gather all the information and have it ready to bring to your appointment with a tax lawyer.
Step #3 - Do Your Own Calculations
Now that you have your tax return and your backup documentation available, it is time to do some number crunching. This process can be a long and frustrating. We guide our clients through this process when they work with us. The clock is ticking, and interest and penalties may continue to accumulate. Therefore, don’t wait too long to respond.
There should be a deadline listed on the form you received from the IRS. Be sure to check it and make sure you can respond by the due date. Do not forget to allow time for mailing and delivery, even if you plan to send the documents overnight.
Step #4 - Don’t Contact The IRS Directly, Contact Our Law Firm And Get The Protection You Need
The IRS is not on your side, their primary goal is to collect the taxes they believe you owe. The IRS has a number of programs in place to lower the amount owed or for payment plans. However, their job is to collect money, not to represent you. Don’t confuse them being professional or polite with them advocating for you and helping you determine what is best for you in light of all of your circumstances. Remember, anything you say to the IRS can and will be used against you.
By seeking the services of a law firm like ours that focuses on tax resolution, you will gain access to a world of knowledge, including information about programs that could save you thousands of dollars and get you back on the good side of the IRS. Also, you won’t be facing the IRS all along. The sooner you contact our law firm the better off you will be.
Dealing with the IRS is rarely a pleasant thing to do, but ignoring a tax due notice will not make it go away. Delaying will just make a bad situation even worse. So, it is important to act quickly. The good news is this law firm exists for this very purpose. We help people take control of their tax situation so that their future is not ruined. You can resolve your tax debt without sacrificing the rest of your entire future - the rest of your financial life. We help people get their life back from the IRS!