Year End Tax Tips for Resolving Tax Debt

If you owe the IRS back taxes – you are not alone; 1 in 6 Americans has a tax problem. However, avoiding the IRS is a terrible strategy; the longer you wait the more serious and expensive your IRS issue becomes.

So, with a new tax year is approaching, I wanted to remind taxpayers facing tax challenges that there is a solution to every problem; even tax debts over $20 thousand can be resolved with the help of a certified tax resolution specialist or tax attorney. Here are three tips to tax relief you can do today that will move you toward tax compliance and to resolving IRS issues once and for all.

Tip # 1 – Determine your Tax Relief Needs – Here are some questions you will want to ask yourself:

  • What type of tax issues are they?
    • Personal income tax or business
    • Estate taxes, charity or foundation tax issues
    • Are these tax issues both federal and state?
    • Does the IRS know about the issue yet or have you just discovered it?
    • Are your records organized and can you attempt a true reckoning of what happened?
    • Do you have unfiled or delinquent tax returns?

Once you get a sense of your needs, you are ready for the next step: getting professional tax relief:

Tip # 2 – Contact a Certified Tax Resolution Specialist or Tax Attorney

A Certified Tax Resolution Specialist (CTRS) works directly with the IRS on your behalf to get the best possible outcome for your IRS tax settlement. A certified tax professional reviews your previous tax returns to assess “exactly where you are” then, based on that information, recommends the best IRS payment plan such as the Installment Agreement or debt settlement program such as the Offer in Compromise (if you qualify).

Tip # 3 – Determine the Credibility of Your Tax Representation

Before you signing on the dotted line, it’s important you do a little homework and research the individual or firm you are entrusting your financial life to. Consider the following four steps:

  • Determine if the tax professional is “certified” and meets the educational, experience, and examination requirements prescribed by the American Society of Tax Problem Solvers (ASTPS). Note: There are only about 200 Certified Tax Resolution Specialist in the country.
  • Google the company name with the words “complaint,” “rip-off” and “scam.” Also Google the founder’s name and check his/her credentials to see who is running the show.
  • Check their social media efforts (hopefully, they have them) like Facebook and LinkedIn and review posting activity such as timely content and information. The benefit: you will be able to see all comments both good and bad.
  • Check out a potential tax attorney or tax resolution specialist/firm with the Better Business Bureau’s website. Pay close attention to:
    • the company’s grade rating (example: B) and BBB analysis of their rating
    • Trust Link reviews for this company. These reviews should give you feedback from previous client experiences and after reading a few, you should get an idea of the satisfaction and service this company provides.

If you are struggling with the IRS, taking action to get tax help from a credible certified tax resolution specialist or tax attorney can allay your fears knowing you don’t have to face the IRS alone. So what are you waiting for?

More Tax Help, IRS News and Tax Relief Tips:

  1. IRS Bankruptcy-Five Tax Relief Options for Back Taxes
  2. Tax Resolution Expert-Five Reasons to Hire One
  3. Talking Tax Resolution with Fox 11 Tony Valdez
  4. Ask the Certified Tax Specialist – Small Business Back Taxes
  5. Tax Relief-Bankruptcy and Tax Debt

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