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Friday, July 11th
If you like the idea of knowing the names and faces behind your tax relief strategy, Direct Tax Relief is a company you should consider. They offer personalized help for most federal and state tax issues, and they've achieved a 95% success rate since 2008. Most clients say that working with DTR got them back on track financially, and that the company treated them with the utmost respect. We'd still like to see a bit more feedback and some advance disclosure of their fee structure, but overall Direct Tax Relief is a good option we can confidently recommend.
97tax is pretty limited in the tax relief options it offers. You can use this service to complete paperwork requesting a payment plan with the IRS or a handful of US state tax authorities; your documents will be filled out and sent with a postage-paid envelope, so that all you have to do is sign and send. However, the $97 flat fee that was the basis of the company's name has gone up to $129, and you're not getting much for that (especially when you could do it yourself for free). 97tax lacks most of the biggest strategies for getting you some tax relief, and so this service earns a lower rating from us.
Tax relief is a way to reduce the amount of money you owe to the IRS or state tax agencies. This can be really helpful if you're facing financial difficulties and can't pay your full tax bill. There are different methods of tax relief, but one of the most well-known options is called an "offer in compromise."
An offer in compromise is an agreement between you and the IRS that allows you to settle your tax debt for less than the full amount you owe. The IRS will look at your ability to pay, your income, your expenses, and your asset equity (things you own that have value, like a car or a house). If they think that the amount you're offering is the most they can reasonably expect to collect from you, they might accept your offer. This can be a huge relief if you're struggling to come up with the money to pay your taxes.
Another option is setting up a payment plan, known as an installment agreement. If you can't pay all at once, the IRS might let you pay off your debt over time. You'll still need to pay interest and possibly penalties, but spreading the payments out can make it more manageable.
There's also something called penalty abatement. If you've been hit with penalties because you filed your taxes late or didn't pay on time, you might be able to get those penalties reduced or eliminated. The IRS could forgive penalties if you have a good reason for why you were late, like a serious illness or natural disaster.
State tax agencies often offer similar programs, so if you owe state taxes, it's worth checking to see what options are available. These agencies understand that life happens, and they may be willing to work with you to find a solution.
While it's possible to negotiate with the IRS or state tax agencies on your own, many people find it's better to hire a tax relief service or an attorney. Here's why. First, tax laws and IRS rules can be really complicated. A professional who knows these rules inside and out can guide you through the process and make sure you don't miss any important details.
Also, tax relief professionals are experienced in dealing with the IRS and state tax agencies. They know how to negotiate effectively and might be able to get you a better deal than you could on your own. And, of course, putting someone else between you and the IRS can not only keep the stress off your shoulders, but it also makes it less likely that you'll make a mistake that could delay your process or result in a denial of your paperwork.
Now that you're convinced that hiring a tax relief specialist is the way to go, which one should you pick? They're not all created equal, so here are some criteria you can use to make your choice:
Tax relief can be a lifeline if you're struggling with tax debt, so the experts at Top Consumer Reviews have done the research on today's top providers and ranked them from best to worst. Use this information to choose a service that fits your needs, and don't hesitate to reach out for an initial consultation. Good luck!
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