Each year, US taxpayers are required to file their income tax returns with the IRS. However, the Internal Revenue Service (IRS) notes that millions of these individuals under-report, resulting in back taxes, penalties, and interest amounting to billions of dollars. Working with some of the best tax relief companies is one tried and tested means of combatting this.
Read on to learn what tax relief companies do, how you can benefit from their help, and how to know which companies you can trust.
Tax relief companies are composed of professionals who have industry knowledge regarding tax laws. These tax professionals may be certified public accountants (CPAs), tax lawyers, and former IRS agents. They have ties to the IRS, which allows them to advise and assist taxpayers on how to settle their tax debts.
Not every business or individual opts to work with a tax professional or tax relief company, but there are several benefits in doing so. For instance, they can:
When assessing your options on tax debt relief companies, think about the company's reputation and background. Check their ratings, accreditations, and finer details such as a money-back guarantee. Depending on the size and nature of your debt, you need to choose the best tax relief company whose tax solutions address your needs best.
Here is a primer on some of the best tax relief companies:
Operating since 1997, you can be sure to trust the seasoned professionals of the Tax Defense Network (TDN)—one of the most renowned tax relief companies in the game. The Better Business Bureau has granted them an A+ rating, with 4.5 stars on their website. Interested parties can get in touch with TDN's tax professionals for a consultation.
Should you choose to work with them, note that you must owe over $10,000 in tax debt. They will charge you a flat rate fee, depending on how much you owe and on the nature of your particular case. Costs of opting for TDN's tax relief services are typically between $2,500-$3,500. If needed, you will have a three-day window for a refund. You can work with TDN if you cannot pay in full upfront.
Included in their business services are tax preparation, tax debt relief (ranging from innocent spouse relief, currently not collectible status, installment agreements, and filing for offer-in-compromise), together with representations in the case of an audit. They also help with both state and federal taxes.
Stop IRS is transparent with their pricing, with estimated costs of payment plans available on their website. This company offers a free consultation so you can learn more about how they can help you.
They assist both individuals and businesses who have at least $5,000 in debt. You might expect to pay a couple of hundred dollars for your tax returns, and around $1,500-$2,500 for tax resolution services. They can aid you throughout the process of applying for innocent spouse relief, currently-not-collectible status, offers-in-compromise, and installment agreements.
Fortress Tax Relief is ideal for those who have large tax debt, as they structure their fees per hour. This ensures that you get the best deal for your money. Attorneys charge $275 an hour, and they will personally handle your case.
Their tax relief services cover state tax debt in all fifty states. Fortress Tax Relief is also known for their top-notch customer service, as they guarantee to return emails and calls within two business days. Failure to do so on their end means that you will receive $100 in account credit.
They cover IRS and state tax solutions, penalty abatement, offer in compromise, trust fund recovery penalties, installment agreements, tax appeals, innocent spouse tax relief, creative tax relief solutions, currently not collectibles, back tax relief, among others.
One immediate appeal of Precision Tax Relief's tax services is their generous thirty-day money-back guarantee. Upon your free consultation, you will learn their all-inclusive flat-rate right away. You will also have the choice to pay via a zero-interest payment plan or to go for a single lump-sum payment.
There is no minimum debt amount with this tax relief firm. They are known to have excellent customer service and can field customer complaints and queries through live chat, email, phone or text.
Although they do not offer the common service of tax audit representation, or assistance with standalone state tax debt, their current services have a 94% success rate. They are accredited by the Better Business Bureau (BBB) and have been granted both an A+ rating by them, together with a Torch Award for Ethics in 2019.
Optima Tax Relief is a tax relief company composed of tax attorneys who specialize in both the resolution and the reduction of IRS and state tax debt. After a free consultation, their first phase is an investigation of your case. They initiate client protection, then begin to communicate and negotiate with the IRS. They then spend some time reviewing your options.
In the second phase, they continue dealing with the IRS to establish compliance and finally, achieve tax debt relief on your end. Optima Tax Relief has exceptional customer ratings, together with 4.75 stars and an A+ rating from the BBB.
They cover tax preparation services, tax debt relief solutions, and representations during audits. Clients can use the company's password-protected portal to check the status of their case, making for a great user experience.
Not everyone chooses to work with tax relief companies, but there are numerous benefits in seeking out professional tax services. You can be assured of representation in tax defense and negotiation with the IRS, have help in understanding your dilemma and protecting your remaining income or assets, and find instant tax solutions that fit your particular situation, among others.
Look for a tax company that has a reputable background and user reviews, accreditation and high ratings from governing bodies, flexible or appropriate payment plans, a money-back guarantee, and other important factors that suit your needs accordingly.
The IRS does tax return processing, collects taxes, and provides assistance to taxpayers. You can peruse their website for the latest news, especially in light of updates on Coronavirus tax relief.
The Federal Trade Commission seeks to protect American consumers, as well as promote competition. Their website has the latest research, workshops, and conferences, and other resources.
If you are one of the many Americans who owe the IRS, know that there is no shame in hiring tax services to help you out. Tax debt relief services offer the guidance and representation you may have long been searching for.
Contact AnyCredit today to learn more about how to properly manage debt.