What To Expect After You Hire A Tax Relief Firm, Part 1

http://IRSDebtHelpHQ.com - If you owe money on back taxes to the IRS, and you decide to hire a tax relief firm, you need to understand that you will still be expected to participate in the process. If there is a sales person at the other end of the phone promising you that you will never have to provide financial information to the firm or the IRS, then run!

In order to resolve ANY tax debt to the IRS, two very important things must be provided:

(1) Any and all late tax returns must be filed. The IRS will not negotiate a settlement or a payment plan if there are unfiled tax returns. This is a non-negotiable item. Make sure that you either have a tax return professional that can help you with these returns, or that the tax relief firm you hire can prepare these returns for you (note that you will most likely need to pay extra to have these returns prepared if they weren't included in your original quote).

(2) The tax relief firm must obtain financial information from you. Installment agreement monthly payments are based on your disposable income (or monthly net profit, if a business). Similarly, Offer in Compromise offer amounts are based on a very strict formula set by the IRS, and this formula includes the value of your assets PLUS the amount of your disposable income over a several year period. The tax relief firm is generally required to provide proof of your income and expenses to the IRS in order to substantiate your financial hardship, and we need this information ourselves in order to calculate what your Offer in Compromise amount needs to be or what you can pay monthly.

Visit http://IRSDebtHelpHQ.com for more tips and information about your tax debt. Send me your questions, too, I'm happy to answer them!

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Education

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• irs debt help
• financial disclosure