FBAR and FATCA are tax laws that require US citizens and residents to disclose certain foreign financial assets. Some tax firms can help with FBAR and FATCA compliance by ensuring that taxpayers comply with the relevant reporting requirements. They can also help taxpayers resolve any issues that may arise in relation to their foreign financial assets.

  • Additionally, the company has received an A+ rating (the highest offered) from the BBB.
  • TaxCure makes it easy for taxpayers to go directly where they can get help.
  • Whatever the case, be sure not to spend money on a company before understanding its minimum debt policy.
  • They serve individuals and small businesses and are noted for providing fully bilingual customer service.
  • If a company requests upfront payment before providing any services, it is probably trying to steal your money and run.

The fact is, you can’t rank the best company or most reputable tax relief companies. You need the best professional on your side that has experience resolving your specific tax problem with a state tax agency or the IRS. The Federal Trade Commission (FTC) warns that scams are rampant within the tax relief industry and that consumers need to be careful before they sign up for this type of help. Some tax relief companies charge pricey upfront fees but never take any steps to help resolve your debt, they note. Other companies promise access to programs consumers can’t even qualify for. Make sure you know the company you plan to work with is reputable, and that they have a long history of qualified customers.

Tax-Related Identity Theft Relief

If you ignore these notices for long enough, the IRS may decide to collect portions of your debt directly from your wages by garnishing part of them. Notably, Optima has a proprietary app that lets you access free assessments of any IRS collection notice you receive and also helps you file for an extension on your tax filing deadline. Opinions are our own, but compensation and in-depth research determine where and how companies may appear. By clicking “TRY IT”, I agree to receive newsletters and promotions from Money and its partners. I agree to Money’s Terms of Use and Privacy Notice and consent to the processing of my personal information.

  • The key difference is that good tax relief companies employ professionals with years of experience, well-versed in tax law, who can more easily navigate complicated cases involving higher debt amounts.
  • Many tax relief companies employ a wide range of tax professionals, which means that they can offer a host of tax solutions for individuals and small businesses in addition to tax relief.
  • For this analysis, we began by evaluating 23 tax relief companies and scoring them based on a number of criteria.
  • The IRS offers tax relief as a way for people to reduce their financial burden while still paying their due.

This is exactly what ALG Tax Solutions does with its online resource library. Generally speaking, you can typically settle tax debts under $10,000 by yourself without much issue. However, if you need some professional assistance to resolve a small tax debt, CommunityTax may accept cases as low as $7,500, among the lowest of all competitors.

Are Tax Relief Programs Worth It?

If the IRS spots irregularities in your taxes, the agency may choose to audit you. While anyone can be audited, wealthier individuals — especially those who earn $10 million or more — are the most likely to be audited. A more drastic variation of a tax lien, a tax levy means that the IRS is enforcing its legal right to seize your property in order to pay your debt. Some companies employ tax attorneys who can, in some particularly complex cases, act as intermediaries in your negotiations with the government. Other companies listed on these sites, but that have not paid a fee, are often rateddown due to subjective assessment from the editor. If you have a substantial amount of debt, consider hiring one of these companies to do the work for you.

  • Tax Defense Network stands out for providing a fully bilingual (Spanish – English) customer service, both online and over the phone.
  • Tax relief companies will offer a free consultation, but the actual tax relief service will often cost you up to several thousand dollars.
  • The average rating is 4.0 out of 5 stars, and 82% of the reviews are 5-star.
  • Urgent Tax Help promises assistance from a team of tax attorneys and specialists who have years of experience resolving problematic tax debts.
  • If a company wasn’t the best for anything, it was not included on this page.
  • Optima has a three-step process for completing your agreement with the IRS.

In some cases, the company may also be able to help the taxpayer file for bankruptcy, which can provide additional relief from joint liability. If you are facing tax debt and believe that you may qualify for innocent spouse relief, a tax relief company can help you explore your options and get the best possible outcome. In light of this, who are the best tax relief companies to resolve IRS or state tax problems or provide tax relief services?

How to avoid tax relief scams

We recommend Community Tax as one of the best tax relief companies in the industry. Community Tax charges a fixed price for its tax resolution services, ensuring that no hidden fees catch you off guard down the line. Better yet, you can take advantage of a free consultation to help you get a better idea of how Community Tax can assist you before paying for its services. Tax relief assistance comes with potentially high fees, so it’s usually best reserved for people with high amounts of debt.

Top Rated Tax Resolution Firm

The total cost for resolution depends largely on the complexity of your case, but you’ll receive a quote before moving on to this stage. (Ad) If you’re struggling with tax debt, there are a variety of tax relief companies that can help. The best tax relief services can negotiate payment options with the IRS and state tax agencies on your behalf, possibly even reducing the amount of taxes you owe altogether. Are many of the national tax firms mentioned on these review sites always the best fit for a taxpayer with a major tax problem? Many tax relief firms charge clients a hefty upfront cost, do minimal work to relieve their tax debt, and leave them with useless tax debt solutions.

Requesting Upfront Full Payment

Tax Hardship Center got a place on this list due to stellar customer reviews on the Better Business Bureau (BBB). They offer help for tax liens, tax penalties, delinquent taxes, payroll taxes, wage garnishments, and more. They can help Spanish speakers to minimize their tax debt by communicating with IRS on their behalf.

Precision Tax Relief also deals exclusively with federal taxes and does not handle state tax issues. However, a call with their customer service department revealed that their base service fee may not be worth it for taxpayers who owe less than $10,000 with no other variables. And they only take on cases if the https://kelleysbookkeeping.com/what-is-an-expense-report-with-downloadable/ possible debt relief makes the service fees worthwhile for clients. For small debts, starting from a few hundred up to $10,000, your best option is to work with the IRS yourself to settle it. If you are not happy with their services within the first two weeks, you can get all the money you paid in fees back.

The Internal Revenue Service has been using passport revocation or denial as a means of collecting back taxes over the last six or seven years. This policy was put in place in 2015, and since then, the IRS has revoked or denied passports for more than 5,000 taxpayers. While this may seem like a draconian measure, it is important to remember that Top Rated Tax Resolution Firm the IRS is not taking away passports for minor infractions. In order to have their passport revoked or denied, taxpayers must have a tax debt of more than $50,000. This is a significant amount of money, and the IRS believes that it is necessary to take this step in order to ensure that taxpayers are held accountable for their tax debt.

Top Rated Tax Resolution Firm

Before going any further, let’s address the fact that the tax relief industry has a negative reputation — you need to really try to avoid the worst tax relief firms. The Federal Trade Commission (FTC) has harsh words about this industry. The consumer protection agency calls tax relief companies “fraudsters,” or tax relief scams.

The investigative stage is where Optima’s professional investigative team will obtain and examine your financial information to develop a plan of attack to deal with your tax debt. In very rare cases, they could even identify things that the IRS missed and negotiate a lower tax bill. Understanding and navigating tax relief options can be an overwhelming task. The following guide on tax relief includes explanations of basic concepts you need to know, as well as information on the many tax relief programs that tax relief companies can help you apply for. Fees and rates are not advertised upfront, but they are always provided during the free consultations.

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