If you’re experiencing problems with your taxes, you may be wondering if there’s any way to fix them yourself, or if you have to enlist the help of an expert. Thankfully, there are many tax resolution services out there that will help you get your IRS and state tax debts settled in ways that fit your specific needs and financial circumstances. This guide breaks down 10 signs that it’s time to bring in the professionals so you can get started on resolving your tax problems today!
The IRS believes you owe more than $10,000
The IRS will seek tax resolution in Greenbelt MD with anyone who owes more than $10,000. In other words, if you’re not fully disputing your debt and/or you’re not paying it in full by a certain date, you can expect to hear from them. The less time you have before an audit or collections call, the more likely it is that you’ll need professional tax resolution help. Don’t wait until it’s too late! Talk to a tax resolution expert today.
If your situation is complex and it takes too long, you need help
Tax relief is just what it sounds like—your taxes will be reduced in some way. In most cases, you’ll file an amended return and receive a refund after paying extra tax, which takes some of the sting out of owing money to Uncle Sam. Filing an amended return can also help prevent further tax problems or related issues down the road. If you find yourself in dire straits, you might need more than help with tax resolution: bankruptcy could be your next step.
If you filed back in error and want to get it corrected
The faster you correct errors, and do it right, the more tax relief you can expect. If your small business just filed its return and realized an error was made (whether accidentally or due to changes in state or federal laws), take action as soon as possible to preserve as much tax relief as possible. In many cases, small businesses are penalized for filing late even when they have good reason for doing so—especially if that business does not bring up their issue with IRS.
If you plan to settle with the IRS yourself
The IRS and other taxing authorities are in charge of collecting taxes owed, but if you and your tax agency fail to reach an agreement on how much you owe, you might need to hire a tax resolution in Greenbelt MD expert.
If you received a letter from them
The Internal Revenue Service (IRS) is famous for notifying taxpayers of deficiencies with their tax returns. While there are legitimate reasons for an audit, sometimes receiving an audit notice means you made mistakes on your return. Mistakes may include overlooking certain deductions, claiming things that aren’t allowed or just entering figures incorrectly.
If you plan to dispute their charges with the assistance of an expert
There’s no shame in admitting you need help with your taxes. In fact, filing your return independently and then arguing with an auditor is akin to entering a boxing ring without any prior training—you’re more likely to get hurt than to win. Save yourself some time and stress by enlisting a tax resolution expert who can help you handle all of your IRS-related matters from start to finish.
If they can’t find your paperwork, they will freeze your accounts or garnish your wages
Tax resolution in Greenbelt MD experts have years of experience locating missing paperwork. But what’s more, they understand how to remove a levy that has already been levied on your property, or stop wage garnishment from happening to you. With that knowledge and expertise on your side, you can rest assured knowing that everything possible is being done for you. Don’t wait until it’s too late