If you are dealing with tax issues, a qualified tax attorney or Certified Public Accountant (“CPA”) can be of great service. He or she can help you to secure settlement through such programs as an Offer in Compromise, Installment Agreement, Innocent Spouse Relief, Penalty Abatement, or Release of levy.
Though taxpayers are permitted to appear themselves before the IRS or State, many taxpayers who are seeking tax relief find dealing with the IRS or State annoying, prolonged and restrictive. In these tough situations taxpayers often decide to hire free-lance tax specialists or a tax resolution firm.
Prior to hiring a tax attorney or CPA,
Consider the 6 tips listed below:
1. Realize the risk of handling your IRS issues by yourself
There are many advantages associated with hiring the right tax relief attorney or CPA, but the greatest purpose it serves is peace of mind. You will find that if you hire the right company, you are not risking your financial as well as personal freedom. People often get nervous when they appear before the IRS. A qualified tax attorney or CPA can help you greatly, even if you are unable to pay your back taxes or have unfiled delinquent tax returns. He or she will maximize the chance of settling your back taxes and help you to secure a tax relief settlement in which you may only have to pay a small amount of money compared to what you owe.
2. Don’t be penny wise and pound foolish
Hiring the right CPA or tax attorney may require a substantial investment. The decision may seem difficult deciding whether to pay the required fees. However, you must realize that appearing before IRS without proper representation will be taxing as well as costly. You want to ensure you are receiving the best possible outcome that requires the specialized services of a qualified CPA or tax attorney. Keep in mind, Back-tax issues and other IRS problems are difficult for the taxpayer both financially and personally.
3. Recognize all possible tax resolution options
The CPA or tax attorney you hire should explain should explain the proper procedure and process involved in resolving your tax debt. This will help set realistic expectations for a solution relating to your specific tax resolution needs. The expert advice given will help you understand the viable options for your precise IRS problem.
4. Understand that each tax resolution case is different
You will need personalized attention rather than an all-in-one approach to tax settlement. Only a qualified CPA or tax attorney with the proper experience and knowledge of your case should be dealing with your tax issues.
5. Hire a firm that offers intelligibility
Many taxpayers are unaware that some tax relief firms lower their initial fee only to charge the taxpayer more as the case progresses. This technique is used by some firms to secure clients that would otherwise decide to do business elsewhere. In some cases no work is ever performed for the client. In other cases, these firms begin by charging an up-front amount considered an entry level fee and intentionally omit the fact that some cases will require additional fees and time such as an Offer in Compromise which may take up to 2 years to complete and become more involved than initially indicated. A large number of Offers in Compromise are rejected, and many of these cases end up having to be appealed. Additional fees are required to handle the appeal process. Many of the less-than-reputable firms do not discuss these possibilities with their clients until it is time to collect payment. It is in the taxpayer’s best interest to choose a firm that gives them a clear overview of what may happen throughout the entire process of dealing with their IRS or State tax problem.
6. The right CPA or tax attorney will keep you out of trouble with the IRS and State
Hiring the right CPA or tax attorney for tax resolution services will not only assist you in solving your prior and present tax issues but will also help you to secure permanent tax relief going forward.
Doing so will significantly increase your chance of securing an Offer in Compromise, Installment Agreement, penalty abatement, innocent spouse relief, release of levy or other approved solution. The Tax Resolution Institute has helped numerous taxpayers with matters ranging in level of difficulty throughout the United States including areas such as New York, New Jersey, Connecticut, Los Angeles, Orange County, and San Diego. The tax resolution process is done so in a manner that is manageable and understandable to the taxpayer. If you hire the Tax Resolution Institute you will receive the best outcome possible given your situation. Bear in mind that IRS and State tax issues do not resolve themselves and can take some time. The Tax Resolution Institute will ensure that you maintain your peace of mind throughout the entire process.
About Peter Y. Stephan
Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.