When the IRS comes looking for money, you may need tax debt support.
Let’s face it, the moment you receive a warning from the Internal Revenue Service (IRS), it’s easy to hit the panic button. If you’ve failed to pay your taxes over time, the IRS will reach out with direct warnings. Outstanding tax debt can incur penalties such as garnished wages, tax liens, or even the seizure of accounts or assets.
It’s no wonder tax debt is a common cause of confusion and stress. If you can’t afford to pay your bill, it can be hard to know where to turn. Does it make sense to spend money on tax debt relief? Usually, the answer is yes—as long as you find a reputable CPA firm, skilled in reaching tax debt settlements.
Here are a few signs you’re ready to find tax debt support:
1. That Feeling of Being Overwhelmed
Tax debt can be sneaky. At first, it can feel less urgent than other monthly bills that need to be paid immediately. While you might expect an unpaid phone bill, for example, to result in the termination of your phone service, the consequences of unpaid tax debt can, at first, feel relatively minor.
But make no mistake, by the time the IRS reaches out, the consequences are serious. At first, you may receive warnings of interest penalties or other disciplinary action. These can escalate to messages that threaten to seize your property or bank accounts.
This experience can be both frightening and confusing. No matter what your tax debt load, if any amount in arrears has you feeling stressed, it’s a good idea to explore your options for tax debt relief. A reputable firm will offer a free consultation, which can both set your mind at ease and give you a clear plan.
2. Knowing There is Plenty You Don’t Know
Although you may have a clear picture of how much tax debt you owe, the next steps—if you are unable to pay your bill—may feel overwhelming and unclear. When the IRS threatens to impose a federal tax lien against your property or garnish your wages, you may feel stuck, and helpless to move forward.
For the most part, when facing a notice from the IRS, many taxpayers are unaware of their rights. They usually do not understand the potential avenues for settlement, either.
If you feel up against the wall, in the sights of the IRS but wondering if you have options, it is worth exploring solutions for tax debt relief. Especially if you can get a free consultation.
3. You’ve Done Your Homework
Of course, not all tax debt settlement companies are equal. In fact, there are many you’ll want to avoid. As you do your research, be on the lookout for red flags that can warn against shady or underhanded operations.
As an example, a tax agent should run proper due diligence before taking on your case. They should ask why you owe the IRS money and take the time to understand your situation, rather than rush into an agreement. They should ask for key financial data, as well, before providing an assessment of what can be done for a fee.
Ultimately, you want to find a trusted team of tax debt specialists—a company that makes you feel both listened to and understood. A reputable firm will offer a free consultation, giving you the opportunity to ask plenty of questions.
4. Your Initial Meeting Feels Right
As you prepare for your free consultation with a firm that offers tax debt services, be sure to write down a list of your questions and concerns. It can be easy to forget questions that may set your mind at ease later. Be prepared with basic financial information, as well—how much money you owe in back taxes, what kind of notices you have received from the IRS or your state government, etc.
Once you’ve had a free consultation with a CPA firm that offers tax debt relief, you will likely feel more at ease. You may even feel hopeful—for the first time in a long time—that you have a plan to get out of tax debt. Just as important, you may feel less alone—that you have a team of experts on your side.
As you do your research, don’t be afraid to meet with more than one tax debt firm. Having phone consultations with multiple providers will allow you to compare services, solutions, and what your instinct is telling you.
5. You’ve Checked Objective Reviews
Finally, as you would do for any big decision, if you’re thinking about tax debt help, it is important to find honest reviews for the firms you are considering. First-hand reviews and testimonials help you to anticipate the kind of experience you may have. The more reviews a tax debt firm has, the more likely you are to see your own situation among their clients.
Ask to speak to previous clients who may have had the same tax debt situation as you. Their experiences may provide useful information.
Tax debt is more common than most people realize. If you owe outstanding back taxes, it is important to act, rather than downplay or ignore the issue. By speaking with a reputable firm—one that has your best interests in mind—you’ll start to regain a sense of control.
At Franskoviak Tax Solutions, we understand how stressful it is to face outstanding tax debt. For more than 30 years, we’ve helped simplify tax issues and allowed our clients to feel in control again. We’ll help you understand your rights, negotiate tax debt settlements, and protect your accounts and property from IRS seizures.
Located in Michigan, with over 30 years of experience, we’ve recently opened new locations in St. Petersburg, Florida, Cincinnati, Ohio, and Indianapolis, Indiana, Franskoviak Tax Solutions provides comprehensive tax debt solutions with first-class expertise and personalized boutique-style service. Start with a free consultation—find out how we can help you get your life and business back on track.
Find out more at https://franskoviakcpa.com.