Things You Should Know About Tax Resolution Service 

Summary: 

Tax resolution services are a valuable resource for individuals and businesses facing tax-related issues. These services are specifically designed to assist with problems such as unpaid taxes, penalties, unfiled tax returns, and tax audits. If you find yourself in a dispute with the IRS or a state revenue agency, tax resolution services are essential.

Tax Resolution services are specifically created to assist taxpayers in navigating the intricate process of resolving issues related to unpaid taxes. Typically, taxpayers seek assistance only after neglecting the problem for an extended period, leading to the IRS or state authorities losing their patience and resorting to forceful measures to recover the outstanding taxes. These measures can include placing a tax lien on the taxpayer's property or initiating a bank levy. The IRS commonly employs a bank levy as the primary method to seize assets, whereby they issue a levy to the taxpayer's bank, compelling them to surrender the owed taxes.

Different Tax Resolution Services

There are various types of tax resolution services available, each serving a specific purpose. Some of the main categories include making payment arrangements or negotiating settlements for unpaid back taxes, applying for penalty abatement, appealing collection actions or tax assessments, representing individuals and businesses during tax audits, helping with the trust fund recovery penalty, filing for innocent spouse relief, and representing clients in in-person meetings requested by the IRS.

If you need tax resolution services for unpaid back taxes, your tax attorney can assist you in applying for different options such as an installment agreement, an offer in compromise, or a partial payment installment agreement. Alternatively, they can help you apply for currently not collectible status if you are unable to afford any payments at the moment. These services provide valuable support and guidance in navigating the complexities of tax-related issues.

How Does A Tax Resolution Company Help?

Tax levy lawyers provide assistance by evaluating and addressing your tax issues on your behalf. By hiring their services, you can rely on their expertise to thoroughly assess your tax problem and advocate for you or your business. A competent tax resolution representative will possess the knowledge to accurately determine what can be included in a financial disclosure and analyze your financial information to identify the most suitable resolution options available to you.

In some cases, taxpayers may only qualify for an installment agreement. Although it may seem burdensome to pay both current and past taxes, your representative will skillfully negotiate the lowest possible installment payments by presenting arguments on your behalf. They will emphasize that you simply cannot afford to pay more, ensuring that the installment agreement amount is manageable. This can make a significant difference in whether your business can continue operating or if it will be forced to close its doors.

What Is The Cost Of Tax Resolution Services?

Tax resolution services can vary in cost depending on the approach taken by the company. Some companies may connect you with an unlicensed salesperson who will charge you for an investigation phase and then an additional fee to address the issue. However, a better approach is to have an initial consultation with a licensed professional who can assess your situation and determine the necessary steps. The cost for resolution strategies can range from at least a thousand dollars for simpler cases to tens of thousands of dollars for more complex cases with significant liabilities. It is important to ensure that the individual you consult with is licensed to practice before the IRS.