To significantly help your tax situation and overall financial issues you should find a good tax resolution company. The ins and outs of tax codes and tax laws are pretty complex. Just because two people have very similar tax issues doesn’t necessarily mean they have the same outcome after dealing with the IRS. A good tax resolution company with experience will not make false promises and will conduct a full analysis of your particular situation to better inform you of the best plan of action and the most likely outcome.
A lot of tax resolution companies have made a bad reputation for the entire industry by not taking care of their customers as should and by making false promises. You can easily spot companies that are not reputable if you know what to look for and move on to the next company before wasting your time, effort and money. Here are some things to be aware of in a Tax Resolution Company.
1. When you hear “Pennies on the dollar settlements” from a tax resolution company they mean you can file an Offer in Compromise with the IRS. Although this can be true, it is unlikely. Therefore, if a company states they can settle your debt for less before they do a complete analysis of your specific tax issue, this should be a big red flag for you. It is hard to qualify for an Offer in Compromise and no one can guarantee that will happen, especially without fully knowing your tax situation.
2. Be aware of a tax resolution company that asks for large amounts of fees upfront. This can simply be a way to lock you in and a cover for their bad services. A reputable company will ask for small retainer fees or none at all and back up the rest of their charges with good quality services.
3. Online reviews can tell you a lot. Simply Google the tax resolution company and see what you fine. Keep in mind that a few bad reviews is common for most companies. However, if there are an overwhelming amount of bad reviews by customers, this should also send up a big red flag. You can also check with the BBB and see how the company is rated and if they have good customer relations.
4. Stay away from a high pressured tax resolution company because you don’t want to feel backed into a corner and rushed to make a decision feeling pressured.
What You Want in a Tax Resolution Company
1. It’s definitely a good thing if a tax resolution company offers a tax analysis for free which usually also provides a quote for their services. The analysis tells them how they can help you while appraising your tax situation to better determine the right course of action needed for your individual case. As with most anything else, shop around for different services and quotes that are being offered.
2. The years of experience are important; the more the better. The person that is directly handling your case should be someone that has experience with your type of situation and not someone in training. Ask what the outcomes were in similar cases they have handled.
3. When checking with the BBB as stated earlier, a good rating for a tax resolution company is a C+ to B. Run away from those that have an F rating,as there are many out there. Be aware of any name changes a company may have. This is a way for them to get around a bad BBB rating.
Good,experienced,tax resolution companies are out there.The value that they can provide certainly outweighs the cost. When you know what to look out for to avoid a bad tax resolution company, it can make it a lot easier in your search to find a good one.