Filling your tax late or inaccurately leads to a notice from the IRS informing you of the amount you owe. Unfortunately, the IRS is notorious for poor communication, with the tax issues spiraling if you don’t sort it out soon. That’s why you will need tax resolution experts to communicate on your behalf. However, some service providers can exploit your desperation to scam you while purporting to help you with IRS debts. Here are the tips for selecting a reputable one.
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Research the Company
Start by researching the company you want to hire for tax debt settlement. While at it, you will check licenses and accreditation. Ensure the tax resolution is licensed by the National Association of Tax Professionals (NATP). Alternatively, it should be licensed by the Certified Public Accountants (AICPA). You will also check their experience and their track record. When doing so, it will help if you read the reviews and check the ratings from its official website or relevant platforms.
Avoid Unrealistic Promises
Most companies that will scam you have unrealistic promises, like getting rid of your IRS tax debts overnight. They also promise to reduce tax debt by over 50% or protect your assets from IRS. When selecting a tax resolution company, You should look for and avoid these red flags. Any company promising such isn’t genuine because IRS only accepts offers in compromise within 50%. In addition, IRS can seize your assets if you cannot pay the debt, and no company can protect the assets.
Check for the Location of Physical Offices
When selecting the service provider, checking for physical location will also help avoid tax scams. This is because the scammy companies operate virtually. A legitimate tax resolution will have physical offices where you can meet the representatives in person. To find the address, you will check the official website or call the company to ask about it.
Understand the Payment Structure
Understanding the company’s payment structure can help you establish legitimacy and reputation. Most reputable tax resolution companies charge hourly or flat fees after service delivery. It’d be best to avoid any company that asks for upfront payment. In addition, reputable companies offering these services are transparent about their payment terms and willing to work with you to create a favorable payment plan. Therefore, review the payment terms during your selection process.
Review the Contract Thoroughly
You should review the written contract provided by the company you want to help you with tax debt settlement. Doing so will help you avert tax scams as you will understand the terms of the agreement, which include and aren’t limited to timelines and fees. The review process will also help you identify any hidden clauses and fees. In addition, it will help you understand your rights under the contract. It will help if you seek clarification on any unclear clauses.
Tax scams when you are in trouble with IRS are common and lead to financial loss. They can also lead to costly IRS penalties besides damaging your reputation. That’s why you need a reputable tax resolution company to help you to settle your tax debt. The information in this article will help you find such a service provider.
