Tax relief can allow you to divide your debt into payments or reduce the amount of taxes you pay to the government. No, the tax relief won't end your tax bill and could cost you more in the long run, but it could make paying what you owe the federal government much more manageable. In a perfect world, you would always pay off all your tax debts on time and you wouldn't need a tax break. However, things don't always work that way in the real world.
If you're having difficulty paying your tax debts, it may be worth seeking expert help. But do tax relief companies really work? Yes, legitimate tax professionals can help you reduce your tax debt or set up an affordable payment plan. However, there are companies that simply keep your money without providing much value. Do some research before choosing a tax debt relief company to represent you.
The answer to this question really depends on the company you use for your tax debt relief service. Yes, there are legitimate tax relief companies that can help you reduce your tax debt or set up an affordable payment plan. However, there are also a lot of scamming companies. What is tax relief? Tax relief isn't necessarily about eradicating your monetary obligation to the IRS.
Instead, tax relief is about finding a way to set up a repayment plan that works for you or to alleviate some of that debt. The tax relief programs offered by the IRS include installment agreements, the status of currently untaxable, commitment offers, and exemptions from tax liens, to name a few. You'll often hear ads from tax debt relief companies about “pennies on the dollar” deals. When it comes to tax debt relief companies, you can avoid a scam by making sure to ask if the company has authorized tax attorneys and if it has a money-back guarantee.
Before looking at the potential benefits of a tax relief company, it's important to note that not all tax relief companies are trustworthy. Alleviate Tax is a privately owned tax resolution company and is not affiliated or supported by the IRS (Internal Revenue Service) or any other government agency. Yes, legitimate tax professionals can help you reduce your tax debt or set up an affordable payment plan. The complexity and lack of resources have helped create a niche for tax debt relief companies that provide representation to taxpayers who apply for tax debt relief programs with the IRS.
If you have tax debts, a tax debt relief company can help you navigate the terrifying waters of relationships with the IRS. The tax settlement process with states is similar to the process with the IRS, but it varies from state to state. With the TaxAudit app, you can securely upload the documents your tax professional needs from your smartphone, send and receive messages with a tax professional, and stay informed of the status of your case. You don't need a tax relief company to apply for participation in any of these programs, but it can certainly be helpful to have a tax professional on your side when deciding which option is best for you.
During your consultation, a real tax professional will examine your case and present your tax debt relief options; you won't talk to a seller. Sabrina Parys is a content management specialist in NerdWallet's tax and investment team, where she manages and writes content on personal income taxes. This can include popular exemptions, such as tax credits, tax deductions, and even stimulus checks or refunds. However, there are few things a tax relief company can do that you can't do on your own if you have the time and resources to invest in studying tax relief programs and negotiating with the IRS.