Debt, taxes and everything else having to do with the economy these days are up for debate. Yet, the IRS hardly ever "debates" with taxpayers who have debt from taxes. The IRS will send notice after notice, showing you an itemized receipt of your debt, taxes, and penalties and interest included.
Taxes & Debt: Why Speak to a Tax Professional?
The most important thing to do once you receive a notice of back tax debt is to call the IRS. Ask for an explanation about the debt, but do not give any financial information. Instead, consult a professional taxes debt settlement specialist on your resolution choices.
Taxes & Debt: What Are Tax Professionals?
In order to get the best possible agreement with the IRS, it is recommended you speak with a tax professional about your taxes debt situation. Their expertise may lend itself to find an IRS arrangement that will benefit you more than the IRS. If you rely on your own tax knowledge, you may unwittingly agree to terms that you cannot meet. The main tax professionals you should meet with are Enrolled Agents and Tax Attorneys.
An enrolled agent is a tax practitioner authorized by the U.S. Department of Treasury after rigorous testing and/or professional experience with the IRS to represent taxpayers before the IRS. Enrolled agents are used for filing taxes and debt representation, and are required to continue their learning by completing at least 72 hours of professional education every three years.
A tax attorney is a lawyer that specializes in tax law, and is best for handling complicated tax returns or representing business tax debt. Tax attorneys are authorized by the state in which they practice law. Some will also hold a masters degree in taxation, and others will have previous experience as an accountant. If you are plan to bring a suit against the IRS, or are under investigation for tax evasion or tax fraud, you need to consult with a tax attorney.
Taxes & Debt: How Do I Find Tax Professionals?
Finding honest tax debt professionals can be easy if you hold each professional in consideration to certain criteria.
First, ask to see all degrees and credentials the tax professional in question claims to have. If they are an attorney, you should be able to look them up online to verify their certification, as well as an enrolled agent. Next, check how long they have been representing taxpayers with taxes debt. You only want experienced professionals handling your tax problems. If the tax professional is within a larger tax debt company, check to see how long the company has been in business.This brings up the final point to consider when about to hire a tax professional; if the professional works for a tax debt firm, learn what their Better Business Bureau rating is. This is essential when looking for honest, reliable help with taxes debt.
Call (800) 590-4524 now or fill out the form below for a free consultation about taxes debt. We'll only connect you with a tax debt company holding at least a B rating with the Better Business Bureau.
