What to expect from a Tax Relief company
Most tax professionals work under tax relief companies. Therefore, hiring them is the same as hiring the services of a company; I think that’s obvious. The benefits associated with this service far outweigh the costs. These companies offer a wide variety of tax resolution services, so the service you will use will depend on your financial situation, your compliance with the IRS, and other factors specific to your case. So you would expect:
Free tax consultation
Most tax resolution services offer a free consultation, where you will consult a tax relief representative. Usually, the consultation lasts for about 30 minutes during which you, the tax expert, will ask a lot of questions about your current financial situation and tax status to determine which option is right for you.
After that you will be able to understand the services and benefits you get by asking their representatives in your case and the amount of money you have to allot for their services. Finally, they will give you the option of hiring a company and they can begin to make you fully compliant with the IRS filing and begin the resolution process.
After hiring a Tax Relief Company
After deciding on a company to assist you in your case, they will assign you a qualified tax professional/expert. Tax professionals are of three types: CPAs, tax attorneys, or registered agents. Depending on the severity of your case, they may assign several to you. Usually, after that you have to sign a power of attorney to approve them to represent you in your case before the IRS. This will also empower them to request your records from the IRS. Everything that follows this will now fall between the tax relief companies and the IRS.
Beginning of Tax Settlement & Settlement Process
During this process, your representative will first ensure that you are fully compliant with all tax filings. It is very important that tax filings are updated and properly filed, in order to make a decision or settle taxes (nearly impossible). Once you are fully compliant, the experts will then look for the best practical settlement method, which can be offered in a compromise, innocent spouse assistance, installment agreement, or reduced sentence, which they deem to be approved by the IRS, given your current financial situation and regardless of your current financial situation. puts too much monetary pressure on you. This may take some time due to how slow the IRS moves. However, in the end, they will find a suitable solution.
Settlement is approved and you are in Full Compliance
As soon as the IRS approves your patch, the settlement is complete and you can rest assured that the IRS will completely let go of you. Your account will always be on good terms with the State or the IRS if you continue to comply with it on subsequent replenishment and adhere to payment deadlines. In addition, a tax professional will advise you on methods to ensure that you avoid tax problems in the future.