The Internal Revenue Service has a number of powers and tools it can use to collect unpaid taxes. If you owe the IRS money, the agency may seize property, place liens against your bank accounts, or take other actions that complicate your financial life.
Tax resolution services attempt to help you resolve these issues by getting the IRS to agree that less than 100 percent of your tax bill is owed.
Tax resolution services are also sometimes called “tax settlement services.”
That’s because one outcome might be that you simply pay less than you owe. For instance, if the IRS thinks you owe $10,000 but you think it’s actually only worth $7,500, a tax resolution service might convince them to settle for somewhere in the middle.
However, tax resolution services should not be confused with other types of debt relief, such as bankruptcy or debt settlement. They might help you get out from under an IRS mess, but they won’t eliminate your entire liability and likely won’t erase interest and penalties, either.
The two most common forms of tax resolution services are the Offer in Compromise and the Installment Agreement.
An Offer In Compromise is a negotiation between you and the IRS. If you can’t pay the full amount you owe, but don’t have the ability to settle your debt for less than what’s owed, then an offer might be a good idea.
The IRS will look at your financial situation and likely require you to make a down payment.
An installment agreement is also an option if you cannot pay the full amount owed, but it’s best suited for those who can pay a little each month until the debt is settled.
Once agreed on and submitted to the IRS, all future tax payments will be made through the installment plan.
The IRS has many options when it comes to the collection, so it’s important that you contact a tax resolution service immediately if you are faced with an outstanding tax bill. With help from a reputable company, you might be able to get out of your financial bind and move on with your life without too much disruption.
Collections can also occur if you don’t file your tax return on time, or if you only file the bare minimum.
This gets especially tricky since you might not realize that filing without all of the necessary information could end up causing more problems down the road.
If you owe back taxes and aren’t sure what to do about it, contact a tax resolution service for help.
What Is a Tax Resolution Specialist?
A tax resolution specialist can help you resolve your debt with the IRS.
The first step to working out a deal is understanding what kind of relief is available, which will depend on your specific situation.
For instance, if you are facing collections due to unpaid taxes or late filing, there might be options to settle for less than what’s owed or put your tax bill on an installment plan for a few years.
However, the paralegal or other specialist you work with should be able to explain all of the available options and their benefits.
They will also deal directly with the IRS, which can help expedite any necessary negotiations.
Of course, if your debt is already in collections, then your first step should be to contact the specialist and explore what repayment plan you might negotiate.
That should help prevent additional interest or penalties from accumulating, but it’s important to note that even if you do work something out, there are still limits on how much you can owe in taxes.
A tax resolution specialist can collect all of the information needed to file your tax return and help you complete it with as few mistakes as possible.
They can also make sure that the IRS has all of the relevant documentation, including proof of payment and any forms needed to verify your identity.
In fact, a tax resolution service might not be able to settle your debt or balance your books if they don’t have the proper documentation.
It’s important to note that even if you are expecting a tax refund, it can’t be disbursed until your debt is resolved.
However, if you work with the specialist long enough and qualify for their services, then there’s a chance that they might be able to get any refunds already owed to you expedited.
That can make a big difference in helping you get back on your feet and start thinking about the future.
What’s the Difference Between a Tax Attorney and a Tax Resolution Specialist?
It might seem like there is not much of a difference between working with an attorney and hiring a tax resolution specialist, but that’s only because most people don’t understand the role of a tax attorney.
First and foremost, it is important to note that lawyers and paralegals are not interchangeable terms.
A lawyer is required to have a Juris Doctor degree from an accredited college or university and pass the state bar exam.
They also need to acquire a license in their area of practice. Paralegals, on the other hand, only need an associate degree and can start practicing once they pass their certification exam.
A lawyer does not automatically mean more money for clients, but it does require additional training and education.
Still, if you are looking for someone who might have a better chance at negotiating your debt with the IRS, then hiring a lawyer is the best route.
However, that doesn’t mean that you can’t find someone who will offer a solid level of service and expertise for less money.
Some attorneys work as tax resolution specialists; those are the people who know how to complete all of the necessary paperwork needed and which forms will help expedite your case.
Why a Tax Resolution Specialist Might Be a Better Option
There are a few different reasons why going with a tax resolution specialist might be the right move for you.
For instance, if you have ever been audited in the past, then you might need to take special precautions before working with an attorney who can represent you.
In addition, there are also tax-related issues that you might not feel comfortable discussing with just anyone.
This is why it’s essential to find someone who understands the unique nature of your case and can help you through everything in a way that emphasizes your rights without neglecting the seriousness of the situation.
Tax resolution services also offer different options when it comes to payment, and they might be more willing to offer you a payment plan that will fit your budget.
Some lawyers might not even take payments, which can help those who need some time to get back on their feet without worrying about extra costs.
In the end, it’s important for anyone having tax-related issues to understand all of their options, including the services of a tax attorney and hiring a tax resolution specialist.
There are also many different resources that can offer more information on ways to resolve your debt and get back to living your life without worrying about an outstanding balance with the IRS.
Why You Need Tax Resolution Help
Tax issues shouldn’t be taken lightly, especially if you’re having trouble paying off an outstanding debt.
Tax resolution services can help you submit forms and documentation that will properly show the current status of your account, which means that it should be possible for you to quickly come up with a plan that will have the IRS tax issue resolved in order for you to get back to where you were before everything happened.
How Do You Get Help From a Tax Resolution Service?
There are a few ways that you can get some help from a tax resolution service. For instance, you might want to ask some friends and family for their advice or look at sites like Yelp! for reviews of different options in your area.
If you’re looking for something more professional, then it’s also possible to find professionals on the web who can help you through the process.
Sites like LinkedIn will offer a list of tax resolution services in your area, and many of them offer contact information so that you can get in touch with someone immediately.
This is also helpful when it comes to finding out more about different payment options or whether or not they can provide documentation that might be beneficial for the progress of your case.
Another way to find a tax resolution specialist is by visiting http://www.IRSproblemresolution.com and filling out the contact form, which will help you start getting some information on how you can resolve your tax issue and get back to where you want to be in life.
It’s possible for anyone to receive excellent tax resolution services thanks to the help of a professional. It’s also possible to find these services online, which means that it should be much easier for you to navigate the entire process without worrying about how your scenario will affect your finances in the future.
Can the IRS Change My Refund Amount?
Did you file your tax return and were then told that it was rejected because the amount of your refund, or the tax liability owed to the government by you, had changed?
If so, don’t worry!
The IRS does not actually have the means to adjust your refund at all.
This is just a warning message that their computers will automatically generate in these cases, and it is done for your own benefit.
They are trying to make sure that you file an updated return or submit a Form W-7 if you are filing as the head of household to get your refund back on track.
They will also issue this warning message when you have already filed but they cannot match one of the forms you submitted with the information they have on file for you, such as a missing social security number or date of birth.
So if this has happened to you, don’t worry, and just take the steps above to fix it!
How Can a Tax Consultant Help Me With Tax Relief?
Are you looking for a way to get the best possible tax relief?
If so, then you should consider hiring a full-service tax consultant. In addition to helping you file your taxes correctly and on time, they can also make sure that things go as smoothly as possible with regard to your return.
A tax consultant is going to provide you with special attention when it comes to your individual tax issue.
They’ll know the ins and outs of all IRS regulations and will be able to guide you in the right direction.
It’s important for anyone looking for a way to get the best possible results when filing their taxes to hire a professional, especially one who can provide additional services like consulting.
This is because the penalties for making a mistake are typically much higher than hiring someone who knows what they’re doing to help you.
How Tax Resolution Services Help Your IRS Tax Issue Relief
If you are hurting financially due to back taxes or other tax liabilities, then there is help available.
Tax resolution services can work with the IRS on your behalf to make sure that all of these issues are dealt with in a positive way.
A professional tax resolution service will be able to handle all of the paperwork for you while also not charging an arm and a leg for their services.
This makes it ideal for those who are looking to get back on track but aren’t well off financially.
In addition, these experts will also be able to help you with anything related to taxes, IRS tax issue relief, financial freedom, improving your credit score, and more.