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Thursday, May 19th
Jackson Hewitt offers lots of strategies for tackling tough tax issues, in addition to their well-known tax prep services. You'll need to schedule a free consultation in person or over the phone to get started. JH doesn't disclose their fees upfront, but you should expect a no-cost discovery phase on federal tax relief and overall costs ranging from $500 to $5,000. This service isn't available in all 50 states, but Jackson Hewitt is a trustworthy provider of tax relief if you happen to live within their service area.
Fidelity Tax Relief looks like its rivals at first glance: plenty of strategies for addressing federal tax concerns, a free initial consultation, and an "A+" from the Better Business Bureau. So far, so good. But that's where the similarities end: we couldn't find any evidence that this tax relief provider is keeping up with the industry, with most client reviews and even blog posts dated at least six months in the past, and absolutely no disclosure of their fees unless you make an appointment. You've got much better options to choose from than using Fidelity for tax relief.
If you're behind on your tax payments or have past years where you didn't even file a return, you probably feel the pressure mounting. Unless you've come into money recently, you're thinking there's no way you can possibly pay off your tax debt while still keeping food on your table and gas in your tank, right?
Fortunately, you've got options you might not be aware of. At the federal level, the IRS offers the Fresh Start program that lets you settle your debt for a lower amount than what you actually owe through an Offer in Compromise. The amount that the IRS will accept depends on your household expenses, current income and assets, and your payment will usually consist of a lump sum upfront and then monthly payments for 6-24 months or in full within five months.
All this sounds great, but are you confident that you can accurately determine your eligibility, wade through the 32 pages of the IRS document explaining the program, and get it approved?
That's where tax relief services come to the rescue. These companies take the hard work out of your hands, securing power of attorney to step in and interact with the IRS on your behalf. The process typically has three stages: a free consultation to explore your specific situation, an investigation phase to determine the extent of your tax problems, and finally the resolution.
How much does it cost? You should anticipate fees ranging from $200-$500 for the investigation, and some of the top tax relief services will refund them if they determine they can't reduce the amount you owe. The resolution stage carries the largest cost, from $500 to $5,000 based on your total owed amount and the complexity of your case. It might seem like a lot to pay, but if you could reduce $100,000 in owed taxes down to just $10,000 (or less), wouldn't it be well worth the expense?
With so many companies offering tax relief services, how can you decide which one is the best fit for you? Keep these factors in mind as you look at your options:
To help you get out from underneath your tax burden, TopConsumerReviews.com has evaluated and ranked the most popular tax relief services available today. We're confident that this information will make it possible to get the assistance you need quickly and stress-free.
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