You’re going to need tax debt help if you’re one of the many taxpayers trying to contend with back taxes and tax debts amounting to more than $10,000. While there are people who believe that hiring a professional to help you resolve your issues with the IRS is impractical especially if you’re already financially broke, there is actually a great deal of wisdom in obtaining tax debt help. Of course, this is depending on your choice of professional assistance.
Who can help?
There are only three types of professionals eligible to provide proper tax debt help: tax attorneys, certified public accountants and enrolled agents. These are people who are allowed to negotiate terms with the IRS for their clients. Tax experts are, as the term implies, well versed with the intricacies of tax laws. They are always updated with the latest statutes on tax debts and negotiations so they are the best people to provide you with tax debt help.
It is important to note, however, that only enrolled agents are capable of practicing in all states as they are federally licensed by the US Treasury. CPAs and lawyers can only offer assistance in the state where they are licensed. If you’re looking to hire a professional for tax debt help, you will have to hire one based in your locale if you want to be assisted by a lawyer.
Of course, getting professional tax debt help will cost paying for professional help, but there ways to cut down costs. First, you need to make sure that you’re working with an established and seasoned tax pro. You want someone who will focus on strategies and negotiating with the IRS for the best tax debt settlement according to your financial situation. You are hiring a professional mostly for his advice and his ability to effectively communicate with the Internal Revenue Service.
Ask your tax pro about the paperwork and forms that you need to accomplish and see if you can do that on your own to minimize the total service fee. Many enrolled agents and tax professionals charge tax debt help services by the hour or on a flat fee basis, so try accomplishing the tasks that you can do on your own would be less costly.
It also pays to research on your options for tax debt help and negotiation before you talk to a tax pro. This is so he doesn’t have to give you a lengthy lecture on what every other term in the tax legislation means and you can both get down to the business of arranging your records and presenting a proper case to the IRS.
There are several different strategies that you can implement to get out of tax debt. Make sure to work with a tax pro who will analyze your current situation with you. A good enrolled agent will come up with a negotiation strategy based on the specific situation of his client. There are other means of clearing your tax debt other than offer in compromise. Be wary of tax pros who present only this as the best course of action because it doesn’t always work with every situation.
For efficient and reliable tax debt help, Mike Habib, EA comes highly recommended. Mike Habib is a nationwide licensed enrolled tax agent who can help you present your case with the IRS. He will personally look into your file and your case to ensure that you’re getting sufficient assistance in clearing your obligations with the government.