December 18, 2017

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Related Articles

Can the IRS Garnish Wages?

How To Choose A Tax Relief Agency

Protecting Yourself From Tax Relief Scams

Questions To Ask Tax Relief Agencies

Why Would The IRS Settle My Tax Debt?


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Protecting Yourself From Tax Relief Scams

There are few things in life scarier than owing money to the Internal Revenue Service.

Taxpayers who are faced with a lien being placed against their property – or wage garnishment – can panic and find themselves being lured into scams designed to take their money without providing any tax relief.

Tax-relief scams run amok on the internet, where anyone with a smooth pitch and a fancy website can attract unsuspecting victims who are just looking for some help with back taxes. The only thing worse than owing a large sum of money to the IRS, is losing even more money to crooks that have no intention of actually helping you.

But for every tax-relief scam out there, a legitimate tax-relief service exists. The hard part is determining which is which. Let’s discuss a few ways to determine whether a company can really help you, or if they just want to help themselves to your money.

According to the U.S. Bureau of Consumer Protection, the biggest warning sign of a tax-relief scam is an agency which overstates its success rate. This can include a misrepresentation of the expertise and skills of staff members at the agency. Consumers should be wary of this type of approach, especially if an agency claims it can successfully help you before it has even seen the details of your case.

Another huge red flag is if the agency asks for money up front. These fees can amount to thousands of dollars. Agencies often claim these fees will be used to help secure a deal with the IRS, with a small portion going to cover their administrative costs. The IRS does not charge fees to work out a repayment deal, so anything paid to a firm like this likely will go directly into the agency’s pocket.

So what can consumers do to protect themselves from tax relief scams?

First and foremost, it is important to know the difference between a Certified Resolution Specialist and some guy sitting behind a desk, claiming to know what he’s doing.

The American Society of Tax Problem Solvers issues certifications for resolution specialists. It is a non-profit agency consisting of professionals who represent taxpayers before the IRS. It only gives certification to agents who are able to pass a written exam, provide evidence they have experience in the tax industry and be a licensed certified public accountant or tax attorney.

One option that can be used to provide tax relief is through an installment agreement. This allows the taxpayer to repay back taxes in pre-determined payments.

Another option that can be utilized is what’s known as an “Offer in Compromise” (OIC). An OIC allows taxpayers to settle their debt for less than the full amount that is owed if they can prove that paying in full would cause a financial hardship for them. Qualified candidates for this option must meet specific criteria as determined by the IRS, and must provide documentation supporting their ability to pay, income level, current expenses and asset equity. Anyone who currently is in the process of bankruptcy does not qualify for this option.

Dodgers get Kemp, tax relief in trade with Braves

Los Angeles re-acquired outfielder Matt Kemp in a five-player trade that was more about financial relief for the Dodgers than a cornerstone player. Time Sports

Published:  Sun, 17 Dec 2017 04:52:00 GMT

Final tax plan expected to keep medical deduction and grad student waiver, a relief to millions

Andrew Devendorf has contacted Sen. Marco Rubio's office every other day for the past month to beg the Florida Republican to make sure Congress's final tax bill doesn't make graduate school unaffordable for him and 179,000 other PhD students in the United ...

Published:  Wed, 13 Dec 2017 20:00:00 GMT

Tax relief for the middle class

Recently, after years of discussion over tax reform ideas, the Senate passed legislation that will provide tax cuts for middle-class families and make our tax code competitive so America can once again become the best place in the world to do business.

Published:  Fri, 15 Dec 2017 06:50:00 GMT

Rep. Kevin Brady: This bill prioritizes middle-class tax relief

Rep. Kevin Brady (R-Texas) speaks with reporters about the final version of the Republican-backed tax reform bill. Bloomberg 3:08

Published:  Fri, 15 Dec 2017 09:18:00 GMT

Barrasso: Tax relief for Wyoming

Earlier this month, Republicans in the U.S. Senate voted to give Americans relief from high taxes. The tax plan is good news for anyone who wants to keep more of their hard-earned money. The non-partisan Tax Foundation estimates that the average Wyoming ...

Published:  Fri, 15 Dec 2017 16:07:00 GMT

Reed pledges tax relief at Silver Creek town hall

SILVER CREEK - With America on the cusp of the largest tax code overhaul since 1986, U.S. Rep. Tom Reed on Saturday promised town hall meeting attendees that the average citizen will pocket more of their hard-earned money. Many in the audience, however ...

Published:  Sat, 16 Dec 2017 21:39:00 GMT

Nebraska petition drive seeking $1.1 billion worth of property tax relief is expected to kick off next week

Trent Fellers, executive director of Reform for Nebraska's Future, confirmed Tuesday that he has filed language for an initiative petition drive with the Secretary of State's Office. He said he anticipates launching the drive next week, after the final ...

Published:  Tue, 12 Dec 2017 21:09:00 GMT

Income tax hike 'will only provide relief for one year'

Income tax increases proposed in the draft Scottish Budget will only provide relief from public spending cuts for one year, according to a cross-party think tank. Analysis by the Institute for Public Policy Research (IPPR) Scotland found the day-to-day ...

Published:  Sun, 17 Dec 2017 15:07:00 GMT

Owners of properties damaged in L.A. County fires urged to seek property tax relief

The Los Angeles County Assessor's office has set up a disaster relief telephone line to help the owners of properties damaged in the county's three fires to apply for property tax relief. Assessor Jeffrey Prang said any property that had damage of $ ...

Published:  Fri, 08 Dec 2017 20:43:00 GMT

Taylor: Save your money with tax relief programs

I would like to summarize some of the most common property tax exemptions: school tax relief (STAR), senior citizen's exemption, veteran's exemption, and exemption for persons with disabilities. There have also been some changes in the state property tax ...

Published:  Mon, 11 Dec 2017 21:35:00 GMT

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