March 23, 2018

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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?


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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.

Tax relief helps Wyo. families

There is more good news every day about the once-in-a-generation tax relief law Congress passed in late December. While traveling across Wyoming these past few months, I've heard firsthand from local families and businesses how this law is helping them.

Published:  Thu, 22 Mar 2018 10:03:00 GMT

Education firms wasting millions thanks to R&D tax relief blind spot

Firms in the education sector are throwing away millions of pounds a year because more than half could be eligible for tax relief on their bright ideas, specialist tax relief firm Catax revealed today. In total, 58% of education businesses have developed ...

Published:  Thu, 22 Mar 2018 05:57:00 GMT

Deadline Approaching for Tax Relief Applicants

Albemarle County offers real estate tax relief for certain elderly and/or permanently disabled persons. If you received tax relief last year, the renewal certification filing deadline is April 2, 2018. Although the deadline for first-time applicants is ...

Published:  Mon, 19 Mar 2018 10:09:00 GMT

Bostelman: Committed to real property tax relief this session

The legislature has less than 15 days left of this short 60 day session. The focus for the remainder of session will be on debate of priority legislation and passage of the budget bills. The package of budget bills include LB944, LB945 and LB946.

Published:  Tue, 20 Mar 2018 22:05:00 GMT

Dayton spending plan aims for tax relief for many Minnesotans

Gov. Mark Dayton proposed tax relief for two million Minnesotans Friday, as part of a broader proposal to increase state spending on schools, infrastructure, opioid treatment and protections for vulnerable adults. "Individual Minnesotans did not receive ...

Published:  Fri, 16 Mar 2018 14:45:00 GMT

Despite relief from SC, Aadhaar still mandatory for income-tax returns

22 Mar 2018: Despite relief from SC, Aadhaar still mandatory for income-tax returns It has been 10 days since the SC indefinitely extended the deadline for linking Aadhaar to various services, but the Income Tax (I-T) website continues to grossly violate laws.

Published:  Thu, 22 Mar 2018 01:34:00 GMT

County tax relief deadline for elderly, disabled set for April 2

WINCHESTER - Elderly and permanently/totally disabled Frederick County residents have until April 2 to apply for tax relief this year. The relief is based on various qualifications. County homeowners who are permanently disabled or are 65 and older can ...

Published:  Fri, 09 Mar 2018 20:00:00 GMT

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