Frequently Asked Questions

How long does it typically take to resolve tax problems and get tax relief?

From the time all appropriate documentation is received, a typical tax resolution case usually takes 3-4 months, assuming the taxpayer is compliant and has filed all their tax returns. Some cases can take up to 9 months or more.

Can I resolve my tax debt for less than I owe?

The short answer is yes and no. The IRS will settle tax debt cases at a reduced amount in some situations, but not all taxpayers will qualify for these programs. The IRS offers payment options, including payment plans and offers in compromise, depending on your specific situation.

What documentation is needed for a tax resolution company to resolve a tax problem?

A reliable tax resolution company would obtain the taxpayer's tax records and financial statements to analyze the taxpayer's reasonable collection potential (RCP). If the taxpayer doesn't have all the necessary paperwork to file unfiled tax returns, a respected tax resolution company should be able to obtain tax records such as W2's, 1099's, and 1098's.

Will using a tax relief company affect my credit?

Enrolling in a debt settlement program is likely to have an initial negative impact on your credit. This is primarily because monthly payments are not sent to creditors on a regular basis until a settlement has been successfully reached. During this period, the creditor may report payments as missed or late.

How much does tax relief cost?

The cost of tax relief services varies depending on the company and the complexity of your case. Many reputable companies offer a free initial consultation to assess your situation. Be cautious of companies that charge large upfront fees or make promises before reviewing your specific tax situation. It's important to get a clear understanding of the fees and services covered before committing to any tax relief company.

Frequently Asked Questions

How long does it typically take to resolve tax problems and get tax relief?

From the time all appropriate documentation is received, a typical tax resolution case usually takes 3-4 months, assuming the taxpayer is compliant and has filed all their tax returns. Some cases can take up to 9 months or more.

Can I resolve my tax debt for less than I owe?

The short answer is yes and no. The IRS will settle tax debt cases at a reduced amount in some situations, but not all taxpayers will qualify for these programs. The IRS offers payment options, including payment plans and offers in compromise, depending on your specific situation.

What documentation is needed for a tax resolution company to resolve a tax problem?

A reliable tax resolution company would obtain the taxpayer's tax records and financial statements to analyze the taxpayer's reasonable collection potential (RCP). If the taxpayer doesn't have all the necessary paperwork to file unfiled tax returns, a respected tax resolution company should be able to obtain tax records such as W2's, 1099's, and 1098's.

Will using a tax relief company affect my credit?

Enrolling in a debt settlement program is likely to have an initial negative impact on your credit. This is primarily because monthly payments are not sent to creditors on a regular basis until a settlement has been successfully reached. During this period, the creditor may report payments as missed or late.

How much does tax relief cost?

The cost of tax relief services varies depending on the company and the complexity of your case. Many reputable companies offer a free initial consultation to assess your situation. Be cautious of companies that charge large upfront fees or make promises before reviewing your specific tax situation. It's important to get a clear understanding of the fees and services covered before committing to any tax relief company.