How can you tell if a tax relief company is legitimate and not ripping you off? If you are promised that your tax case will be settled for pennies on the dollar, think twice! Every tax case is as different as every person. The best that any legitimate tax relief company can do is promise to find the best resolution (settlement) possible. If it is legitimate the people working there will be knowledgeable about all the available IRS taxpayer assistance programs. There are only a few IRS taxpayer assistance programs under the Fresh Start Program. The Offer in Compromise, Economic Hardship Partial Payment Plan, Currently Non-Collectable Status and Installment Agreement are available programs. How do you know which of these programs you qualify for? Which of these resolutions is the best resolution for you?
It all boils down to your total monthly income verses your total IRS allowed monthly expenses. The most basic individual work sheet that you can use to list these is the IRS Form 433-f. The IRS Form 433-f can be downloaded via the internet. However, it is not the only one – the IRS Form 433-a is more detailed, as is the 433-b for businesses. Do your total IRS allowed monthly expenses equal or exceed your total monthly income? If so, do you NOT own any real property or assets? If this is the case, then you might qualify for an Offer in Compromise, or Currently Non-collectable (CNC) Status. However, even in this very basic example, nothing is simple when it comes to taxes.
First, not all monthly living expenses are allowed by the IRS. Certain monthly living expenses, such as how much rent you can list, are capped by IRS National Standards. Under IRS National Standards, monthly rent is based on the county you live in and the number of people in your household. The IRS National Standards are available via the internet. Get the picture? Unfortunately, resolving a tax problem is seldom easy. If you own real property and you have equity in your property, things become even more complicated. However, you can go over IRS Form 433-f with a tax relief company representative to get an idea as to whether they can help or not.
Ask if the people working at the company are IRS Recognized Representatives who can represent taxpayers before the IRS. An IRS Recognized Representative is either an attorney, a Certified Public Accountant, an accountant, or an Enrolled Agent.
Coast One Tax Group is a legitimate Tax Relief Company. We are a group of resolution specialists – attorneys, accountants and Enrolled Agents. My colleagues and I work hard to obtain the best tax resolution (settlement) possible for our Clients! If we think you may qualify for an Offer in Compromise (OIC), how much could you possibly save? Last year (2018), on average, we saved our clients a minimum of 92% of the amount of back taxes owed, and we have substantiated claims to prove it! Unfortunately, we cannot win them all. We cannot quarantine that ultimately the IRS will grant your specific Offer in Compromise. However, we will never submit an OIC unless it is a strong case. If you do not have a strong OIC case, we will tell you. And, we will find the best resolution (settlement) that you do qualify for!
