Dealing with the IRS can be intimidating, especially if you’re not familiar with the current tax laws in place. Although it may seem like you’re out of options and at your wit’s end when trying to deal with the IRS, there are resources available for any taxpayer who wants to become compliant with the IRS. One such resource is to hire a tax firm. These companies assist with the collections with the IRS, sometimes even reducing the total liability owed. These tax relief firms have experience negotiating with the IRS – taking the stress of tax debt off of you. Here are a few reasons why hiring a tax firm to assist you with your tax burden could be the solution to your liability and help you move forward.
They investigate what tax issues you may have.
Most tax relief firms will look into all your past tax years, not just to ensure that they were filed accurately, but to make sure there are no red flags that could lead to the IRS penalizing or auditing you. This process is typically done before any work is completed for the client to ensure that any past or current issues are addressed and, if need be, to review what possible corrections will need to be made on the client’s behalf to ensure they stay compliant with the IRS for years to come.
They prepare any unfiled tax years for you.
After the investigation is completed, a tax firm will then look at what years need to be filed or amended for the client. An experienced tax preparer will request information for the years they will be filing on behalf of the client. For this portion, the tax preparer will thoroughly review all of the provided information and proceed to prepare all necessary tax returns. The tax preparer will then provide the tax returns for the client to review and approve before they are filed with the IRS.
They can get you compliant and potentially help you avoid collections.
Once all tax years have been filed, a tax professional will review the cause of the client’s tax liability both to ensure the correct amount of tax was assessed and to recommend any corrective actions to prevent future compliance issues. The tax professional will then review the client’ financials and provide option(s) tailored to the situation. A tax professional will make every effort to get the best resolution possible. Once the client has been presented their resolution option(s) and an option has been agreed upon, the tax professional will then set up the agreement which will halt any further collection activity from being enforced.
Hiring a tax firm that specializes in providing clients relief from the IRS can be incredibly beneficial for a taxpayer, especially those that are not experienced with dealing with the IRS on their own. Resources such as these tax firms are available for taxpayers to use so they don’t have to worry about figuring out how to get out of collections, or if they simply don’t want to deal with the IRS themselves. The benefits you may receive, such as ensuring that you have been filing your tax years correctly, filing any unfiled years, and, if you owe a liability, getting you on the best resolution possible with the IRS. If you have tax issues and need assistance, it may be in your best interest to look into hiring a tax relief firm that can provide you with the help you need and say goodbye to tax debt forever.
The content contained on this page is strictly for informational purposes and may not apply to your specific situation. We recommend you consult with a tax professional to evaluate your unique situation. Forward Tax does not provide tax, bankruptcy, accounting or legal advice.