With so many options out there when it comes to tax settlement companies, choosing the right one for your needs can be overwhelming. To help you make an informed decision, this article will provide a comprehensive guide on what to look for in selecting the best tax settlement company. From understanding fees to considering customer reviews, this guide will give you all the information you need!
What is a Tax Settlement Company?
There are many tax settlement companies out there and it can be hard to know which one to choose. Here are some things to look for when choosing a tax settlement company:
– The company should have experience settling taxes for people in your situation.
– The company should offer a free consultation so you can get an idea of what they can do for you.
– The company should have a good reputation with the Better Business Bureau.
– The company should be able to answer any questions you have about the process.
– The company should have a payment plan that works for you.
How to Choose the Best Tax Settlement Company
There are many tax settlements companies out there, and it can be difficult to choose the best one. Here are some things to look for when choosing a tax settlement company:
– The company should have experience dealing with the IRS.
– The company should offer a free consultation.
– The company should have a good reputation.
– The company should be able to answer any questions you have.
– The company should offer a money back guarantee.
Questions to Ask When Selecting a Tax Settlement Company
When you’re looking for a tax settlement company, it’s important to ask the right questions so that you can choose the best one for your needs. Here are some questions to ask when you’re considering different companies:
- What is the company’s success rate in settling taxes?
- How much experience does the company have in settling taxes?
- What is the average amount of money that the company saves taxpayers?
- What is the company’s fee structure?
- How long will it take for the company to settle my taxes?
- Will I have to pay any upfront fees?
Common Types of Tax Settlements
There are a few different types of tax settlements that you might be able to qualify for. The most common type is an Offer in Compromise, which is when you and the IRS agree on a lower amount of taxes that you owe. This can be a good option if you can’t pay your full tax bill, but it’s important to know that not everyone qualifies for an Offer in Compromise.
Another type of settlement is known as a Payment Plan, which is when you set up a plan with the problems with tax to make monthly payments towards your tax debt. This can be a good option if you’re unable to pay your taxes all at once, but it’s important to note that interest and penalties will still accrue on your unpaid taxes.
Lastly, there’s what’s called Currently Not Collectible status, which is when the IRS agrees to temporarily postpone collection action against you because they believe that you cannot afford to pay your taxes at this time. This can be a good option if you’re facing financial hardship, but again, it’s important to know that interest and penalties will still accrue on your unpaid taxes.
