When looking for a tax relief service, you are likely to come across many options. It is vital to find a company that offers legitimate services and avoid companies that are out there to make quick money. With adequate research, you can easily spot a company that is out there to scam you. Fortunately, it is quite easy to weed out such service providers. You need to know the steps to follow when hiring and evaluating a tax relief company that can fix your tax issues. Remember that the decision you make can affect your business both emotionally and financially.
Avoid Offer in Compromise
Many tax relief firms make promises to help you reduce your tax liability or get a settlement. This is what is called “Offer in Compromise.” You should avoid such companies. When you owe IRS a lot of tax that is higher than your assets, then you can go for this type of settlement. In this case, you will be dealing with a formula created by IRS, which you must adhere to strictly.
Interest and Penalties
If a company tells you that interest and penalties stop when you hire them, it is a sign that it is not trustworthy. You should note that penalties and interest will occur as long as there is a balance. For instance, when you fail to make a payment or file, then you will incur both penalties and interest. By hiring a tax relief company, you do not stop them.
Read Testimonials and Reviews
It is advisable to check for complaints filed against the company at Better Business Bureau. The report can help you track the complaints from past customers. It does not matter the number of cases handled by the firm; it should have positive reviews from the real customers. You should not trust every review you find posted online by the service company.
Check Their Fees
There is a need to check their fee structure. Some companies provide a flat fee, but they may have hidden fees. The flat fee is meant to keep you hooked. Make sure you read their terms and conditions. You might be surprised to learn that the company has a right to demand more money from you.
Industry Experience
Most tax relief companies claim to have been around for many years. However, you might be surprised to discover that they have only been around for less than five years.
Also Read: https://augustanaheritage.org/2021/06/four-benefits-of-having-a-good-credit-score/
