Are you experiencing a tax resolution problem? Do you want to seek professional guidance? If yes, you must pay close attention to the myths mentioned below that modern-day firms spread through television and online marketing. Now, several ethical tax experts ensure appropriate representation. However, please separate fact from fiction when choosing a tax resolution plan.
The IRS offers only one chance to resolve tax liabilities
According to the best tax audit attorney San Diego, tax resolution is not a one-shot deal. The OIC (Offer in Compromise) program introduced the ‘act now, or you will lose your chance’ tactic. OIC wants to decrease taxpayer burden, enhance IRS productivity, and escalate voluntary tax compliance.
A large number of tax resolution clients become repeat clients. They contact either the same firm or a different one every time.
Even though tax resolution is not a one-time opportunity, the delinquent payers must perceive it as a one-time event. They must try to deal with it properly the first time.
Huge tax representation companies perform services more competently for an affordable price than the local attorneys, enrolled agents, and CPAs
The prices vary from one firm to another. The level of professionalism and customer service also varies. If you participate actively in the procedure of tax resolution and financial freedom, you will be able to find the most cost-efficient solutions to your tax issues. Most huge tax representation companies are good, but there is no need to doubt the enrolled agents, CPAs, or local attorneys.
Tax resolution firms have a regulatory body that specifies the code of ethics and a set of guidelines.
According to a renowned cryptocurrency tax lawyer, there is no regulatory body protecting people doing business with tax firms. Individual practitioners like EAs, CPAs, etc., have standards to maintain. But, the firms do not have anything to guide them except legal precedent and IRS policies.
The IRS issued an alert in 2004 to warn the consumers about the promoters’ claim. This claim stated that tax debts could be easily settled through the OIC program for ‘pennies on the dollar.’
The IRS will forget you if they do not contact you after a few years of not paying or filing taxes.
The biggest issue with IRS collection is it takes years before the process starts. Even if months and years pass, the IRS will find you and hit you with enormous interest and penalties. The cycle of avoidance and procrastination only paves the way for more tax and financial complications. Remember, not paying taxes means stealing from the honest people who paid their taxes on time and the federal government.
Since you have debunked most of the myths, let’s find out how much tax resolution costs.
Most modern-day companies operate in two ways. In the first approach, you pay thousands of dollars to a salesperson to carry out an investigation. You then pay an extra fee to address the issue. In the second or better approach, you go through a free consultation. The expert asks questions to comprehend your situation. You then pay according to the strategies suggested.
