You have a tax problem. Or maybe you call it a ‘tax situation’ or ‘tax issue.’ However you refer to “it,” having “it” is stressful (and “it” is usually more than one). It becomes all-consuming as you lay awake at night, worried about how you are going to take care of your tax situation. You want to get this issue resolved, but you aren’t sure where to go or what to do. Here are 7 crucial tax resolution mistakes to avoid during the journey to resolve your tax issues once and for all.
Crucial Tax Resolution Mistakes Before You Start
- Crucial Mistake #1 – Doing Nothing, Thinking the Problem Will Just Go Away – The saying about the only things certain in life are death and taxes is a saying for a reason – the IRS doesn’t go away. It may take a while (speed of federal government) but eventually they will get to you and crank up the pressure. To them, you have their money, and they will stop at nothing to collect. You may think you can fly under the radar or that you will just slip through the cracks and your case will just fade away. Think again.
It is better to get out in front of the situation and take control of your tax resolution rather than doing nothing and having the terms dictated to you.
- Crucial Mistake #2 – Panicking and Winding Up Worse Off than You Were Before – It can feel overwhelming when you feel buried in tax debt with seemingly no way out. Someone comes along promising to settle your debt for a mere fraction of what you owe – “Pennies on the Dollar” they say. Another guarantees to wipe out all your tax debt. They seem to be just what you need. But, they are too good to be true. These promises are unrealistic and basically fraud. Without a complete examination of your tax problems and financial situation, no one can give you any promise of results of any kind. And a huge red flag is a guarantee. Someone guarantees you a certain result, they are lying to you.
If you choose to enlist the help of a tax resolution firm to handle your tax problems, research the company. Check their BBB and customer reviews. Look them up on social media. Check their credentials. Ask them these 5 questions.
- Crucial Mistake #3 – Thinking You Will Automatically Qualify for a Tax Relief Program – Just because you have tax problems and are in need to tax relief help, that does not mean you will automatically qualify for a relief program. Each relief program (like Fresh Start, OIC or an Installment Agreement) has their own rules and procedures that must be followed to apply for consideration. Filing the right forms at the right time is essential. No one just automatically qualifies. There are the proverbial hoops to jump through.
Here’s where working with a tax resolution professional comes in handy. They know the programs, they understand the procedures, they know what to file and when to keep your case on track. In short, they know the hoops.
Crucial Tax Resolution Mistakes During the Process
- Crucial Mistake #4 – Taking the First Offer, Even if it is Not a Good One for You – During the resolution process, one possible solution that may be available is the installment agreement. And it’s exactly what you think – the IRS and you agree that you’ll pay down your debt in smaller installments as opposed to all at once. Not everyone is eligible though. And less costly options may still be available to you. What you absolutely do not want is to enter into an installment agreement plan that you cannot afford and causes even more financial trouble. You start missing Installment Agreement payments and the repercussions are costly.
Again, here is where having a guy on your side, the tax resolution pro, can help. They work with you and on your behalf to get the best possible outcome for you. The resolution solution has to work for all parties involved, including you. You have rights as a taxpayer and having representation from a tax resolution professional helps to protect those rights.
Speaking of tax resolution professionals …
- Crucial Mistake #5 – Working Against Your Tax Resolution Professional and Not With Them – Cooperation is key to the tax resolution process. You are an active participant in your tax resolution case. To resolve your tax issues with the best possible outcome requires total financial transparency with your tax resolution professional. Share all documentation and information about your tax situation. Respond quickly to any requests for additional documents or information.
You turned to the tax resolution professional for help. Help him help you by being an active participant in your tax resolution. The better the cooperation, the better the chances of a positive outcome.
- Crucial Mistake #6 – Failing to Plan to Not Do This Again – Resolving tax issues can be a time consuming and costly process. After going through the experience, you likely will never want to do it again. Take this time to review your total financial picture and create a plan to get your financial train back on track. Understand how you got to this point and make a plan to never come back.
Maybe it’s finding a licensed CPA to help with filing your taxes each year. Maybe it’s a budget or regularly saving a little from each paycheck. Bottom line, have a plan in place so you never have to go through the tax relief process again.
- Crucial Mistake #7 – Choosing a Tax Pro That is Actually a Tax Amateur – Cannot stress enough the importance of doing your due diligence and researching before choosing a tax resolution firm. Check their reviews. Look them up on social media. Ask about their credentials and licensing. Ask them these 5 questions.
You want to make sure you go with a company:
- that gets proven results
- that has experienced, licensed professionals on staff
- that handles your case start to finish
- that will work to get the best outcome for you
- that is a guy on your side against the taxing authorities looking to collect from you
You want … Strategic Tax Resolution.
One Last Thing
Strategic Tax Resolution – trusted, local tax resolution experts working to negotiate the best possible outcome for you. Call us today to help resolve your tax problems. We are the ‘guy on your side’ – handling the IRS and State taxing authorities on your behalf. Strategic Tax Resolution has convenient local offices and online-assisted means to better serve you. Take control of your tax issues and resolve them once and for all! Call Strategic Tax Resolution today at 888-339-4914 and Get Relief!