5 Takeaways That I Learned About Taxes
Tax Resolution Services
You could find yourself in a situation where you need to pay all your unpaid taxes. This shall call for you to get tax resolution services. This calls for you to know how to choose the best among them. Here are the things you need to pay attention to.
You need to do some research on the proposed firms. You need to see how they have performed in the past, and if any clients complained. The internet is there to make your research work easier. Ask for references to find out more. You also need to check out their licenses. Such work can only be done by one who has the necessary licenses.
You need to also know how much this shall cost you. There are firms that are never straightforward with what they charge their clients. You may be forced to have to pay extra since the work has started. It is important to find out all the applicable charges so that you are not left to wonder where those funds shall come from. There are laws that protect consumers in such cases you can use. If possible, go for split payments over time. If all they care about is a one-time payment, you need to worry about their future conduct.
It is important to establish what your duties shall be in the process. The most common one is your provision of financial documentation for reference purposes. If you are not forthcoming with it, you may incur a penalty. This further emphasizes your need to know in advance.
They need to also tell you if they shall handle the tax returns for that period. While some do, others tend to leave it up to you. If they had not been filed, you need to work on their first. This shall tell you what you owe, and whether it is necessary to hire the tax resolution firm.
You need to also check what lines of communication they have. You need to know what lines of communication they shall be using, and how often. If you cannot reach them easily, it shall be a bad sign. You need them to answer your questions as and when they arise.
In your initial discussions, you need to establish the strategy the firm shall be employing to resolve your case. They then need to stick to this plan. There are firms which might propose a payment plan, only for them to later switch to something different.
You need to also avoid any firm that assures you of a given set of outcomes. While they may be the best, it is the tax authorities that make the final call. Therefore, such guarantees are a sign of inexperience.