It is essential that all taxpayers file tax returns on time every year. Even if you do not make much money during the year, it's still in your best interest to file tax returns for the current tax year. This will keep your records up-to-date with the IRS and will not cause suspicion when you file tax returns the following year.
If you fail to file tax returns, you will be hit with late tax filing penalties and interest. These charges will begin accruing on your IRS account immediately and can cause you IRS debt to snowball out of control. Failing to file tax returns can also result in the IRS to file tax liens against you.
IRS tax liens can be very difficult for you to remove. There are only two ways to have a tax lien removed. They are:
- You pay the IRS in full.
- You request that the IRS removes the lien so you can sell your property/assets to pay off the debt.
If you do not pay your balance in full or make any attempts to reconcile the tax debt situation, the IRS may seize your property. The IRS has the law behind them when it comes to asset seizures. They are fully capable of selling valuable assets to cover your tax debt.
If you start receiving IRS letters, it may be time to seek expert tax advice from a tax debt professional. When you start looking for a tax debt professional to help file tax returns, there are a few questions that you may want to ask to make sure they are qualified to file tax returns on your behalf.
Consider these two questions when searching for help with your back tax debt:
- How long has the tax debt relief company been in business?
- What is the company's Better Business Bureau rating?
By doing this basic research, you can gain insight into how long a tax debt resolution company has been in business, and negotiating with the IRS. You will also have a better understanding of the services provided. It is recommended that taxpayers only choose a company that has at least 10 years of experience in helping people file tax returns and assisting with other back tax issues.
A tax debt company's Better Business Bureau rating is very important. This information provides you with:
- The number of complaints the company has received.
- What the complaints were concerning.
- If/How the complaints were resolved.
If a company has at least a B rating with the BBB, you can hire the company with confidence that they are experts when it comes to helping taxpayers file tax returns.
Take these points into consideration when seeking back tax relief.By gaining this basic tax debt resolution knowledge, it will make it harder for tax debt professionals to sell you on IRS programs that you know you don't qualify for.
Call now or fill out the form below for a free consultation about help to file tax returns. We'll only connect you with a tax debt relief company holding at least a B rating with the Better Business Bureau.