2nd Time Are Thier Any Reputable Tax Companys And Do They Work With Irs Problems?

companys that advertise ,they can help you reduce your debt with irs i have done some searching cant find one ,are they reputable i ask this before and got no replys

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3 Responses to “2nd Time Are Thier Any Reputable Tax Companys And Do They Work With Irs Problems?”

  1. bmcp7938, on November 23rd, 2009 at 2:43 pm Said:

    Be VERY wary of the firms that advertise tax relief services on cable TV and talk radio! Much of their advertising is extremely misleading. One of the most important stats that they fail to mention is that only about 20% of all Offers in Compromise are ever accepted by the IRS. Other things that they fail to mention is that the IRS has up to 2 years to consider your offer and that you must continue to make payments while the offer is under consideration unless your account has been placed in uncollectible status
    You can get better service at a much lower cost from a local CPA or EA. And while there is a fair amount of work involved in preparing the package — it’s over 40 pages — there’s no reason that you can’t do it yourself if you read the instructions carefully.
    See the following link for more information: http://www.irs.gov/businesses/small/arti…
    And see this link for a warning from the IRS about dishonest OIC pitches: http://www.irs.gov/newsroom/article/0,,i…
    In short, the IRS will consider an OIC if your offer is for MORE than they expect that they could collect via their normal collection and enforcement procedures. That would include whatever could be realized by liquidating most of your assets at fire-sale prices plus a 5-year repayment plan on an austerity budget.

  2. Bostonian In MO, on November 23rd, 2009 at 3:08 pm Said:

    They cannot really do anything that you cannot do for yourself for free, or use an EA for a lot less. If you owe the government, and it is not a mistake, then you owe the government. The only way to get the taxes reduced is to make an “offer in compromise” which they will only accept if they think that they will never get the back taxes from you. The IRS accepts only a low percentage of such offers.

  3. MadMan, on November 23rd, 2009 at 4:04 pm Said:

    General Rule: If they advertise heavily (TV, Radio, Internet), stay away from them. The only thing that they tend be good at is getting your money in to their pocket.
    Contact a CPA or EA in your local area and explain the situation.

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