How to Select the Right Tax Attorney for your Situation


by Joe Valinho on March 02, 2021  0 Comment

How to Select the Right Tax Attorney for your Situation
How to Choose the Right Tax Attorney for your Tax Problem If you are facing a tax issue, you can hire a tax attorney, a certified public accountant (CPA), or a tax resolution company for a resolution. These tax professionals and services assist in solving different kinds of tax problems. A CPA is suitable for problems concerning tax returns, while a tax lawyer can help you with representation, communications with the IRS, tax debt issues, litigation, and so forth. Therefore, depending on the problem at hand, you will need to hire the right tax professional for the job. Where to Begin Looking for a Suitable Tax Attorney To find a professional and competent tax attorney, you can ask for a ...

What is the Cost of Hiring a Tax Attorney?


by Joe Valinho on February 23, 2021  0 Comment

What is the Cost of Hiring a Tax Attorney?
You may need help from a tax attorney for resolving a variety of tax issues. It may be handling a complicated IRS audit, back tax resolution, communicating with the IRS, or representation before the IRS. When you begin looking for a tax attorney, one of the prime concerns you have is about the cost. The Cost of Hiring a Tax Attorney Just like a doctor charges you differently for different illnesses, similarly, there typically is no set fixed fee for a tax attorney. Depending upon how complicated or straightforward your tax problem is, a tax attorney can charge you from $200 to $400 and beyond per hour. The fee can be close to a thousand dollars an hour for very ...

Should You Hire A Tax Relief Company or a Tax Attorney


by Joe Valinho on February 16, 2021  0 Comment

Should You Hire A Tax Relief Company or a Tax Attorney
Many people looking to resolve their tax problems often get confused about whether to hire a tax attorney or a tax relief company. Both can resolve tax problems; both are experts in their field. Then which is a better choice? How to Choose between a Tax Relief Company and a Tax Attorney The one major difference between a tax relief company and a tax attorney is that a tax relief company is a collective of professionals, including tax attorneys, tax professionals, and many times enrolled agents and Certified Public Accountants (CPAs). On the other hand, a tax attorney is a tax lawyer specializing in tax laws and tax codes, and can represent taxpayers before the IRS and in court.Whether ...

How to Find a Legitimate & Trustworthy Tax Relief Company


by Joe Valinho on February 09, 2021  0 Comment

How to Find a Legitimate & Trustworthy Tax Relief Company
A few unscrupulous companies lurk among the largely legitimate tax relief services industry, looking to scam people. These unethical companies carry out malpractices such as promising unrealistic results, charging excessive fees and hidden fees, and misleading advertising. They do little to nothing to resolve the tax issue of their client. In the end, their victim is left with a loss of hundreds of dollars in fee with no returns. What To Do Before Hiring a Tax Relief Company There are a few ways to find out whether a tax relief company you are looking to hire is a legitimate service or not. Before you hire a service, conduct thorough research online and offline. While researching, you may check these points:...

What is an IRS Payment Plan?


by Joe Valinho on February 02, 2021  0 Comment

What is an IRS Payment Plan?
What is the IRS Partial Payment Program and How It Reduces Tax Debt The IRS offers tax debt reduction plans that help taxpayers and businesses get a reduction in back taxes. Many people erroneously believe that tax debt reduction plans are open for all. The truth is that IRS tax debt reduction plans are only for those who cannot afford to pay their full tax debt. If you are experiencing financial hardship, you can consider applying for IRS tax debt reduction programs such as the IRS Partial Payment Installment Agreement (PPIA) or Offer in Compromise (OIC). These plans allow you to pay less than what you owe in back taxes. IRS Partial Payment Plan: Partial Payment Installment Agreement The IRS ...

What is Tax Relief?


by Joe Valinho on January 28, 2021  0 Comment

What is Tax Relief?
What Does Tax Relief Mean and Who Qualifies for It?   Tax Relief means that you pay less than what you owe in back taxes. You can achieve a reduction in tax debt by qualifying for an IRS plan called ‘An Offer in Compromise.’ Only those taxpayers who are financially strained and cannot afford to pay back their entire back taxes can hope to achieve tax relief using An Offer in Compromise.  How Can I Get Tax Relief with An Offer in Compromise?   An Offer in Compromise is an IRS tax debt reduction program open only to those taxpayers who are in financial difficulty and can only pay for basic living expenses. Both individual taxpayers and businesses can ...

Paycheck Protection Programs: Resources and Provisions for Entrepreneurs, Small Businesses, and Independent Contractors


by Dawn Allcot on January 27, 2021  0 Comment

Paycheck Protection Programs: Resources and Provisions for Entrepreneurs, Small Businesses, and Independent Contractors
In late December 2020, Congress and the president approved a $900 billion COVID-19 relief program, which included a second round of funding under the Paycheck Protection Program. First passed last spring, the original round of PPP funding included more than 5 million loans, each for an average of approximately $100,729. The total loans added up to more than $525 billion when the first round of funding closed in August.PPP loans are partially or fully forgivable, depending on the organization’s income and what the money was used for. As of November 22, 2020, the SBA received more than 595,000 loan forgiveness applications worth a total of $83 billion. Of that money, $38 billion was forgiven. Who Received PPP Loans? In ...

What is Tax Forgiveness?


by Joe Valinho on January 21, 2021  0 Comment

What is Tax Forgiveness?
Tax Forgiveness: How Can I Get My IRS Debt Forgiven? What is the meaning of tax forgiveness? Can I get my back taxes forgiven?  How do I qualify for tax forgiveness? These are some of the common questions taxpayers ask us looking to resolve their back taxes.Here we will answer all of these questions and more so that you can determine if you can get your IRS debt forgiven and what steps you can take. What is Tax Forgiveness? Under certain circumstances, the IRS reduces a part or entirety of back taxes that you owe. There are three conditions in which someone can achieve tax forgiveness. These are:You can get a reduction in back taxes if you cannot ...

What is the Difference Between Tax Lawyer & CPA?


by Joe Valinho on January 14, 2021  0 Comment

What is the Difference Between Tax Lawyer & CPA?
How is a Tax Lawyer Different From a CPA? "Should I hire a tax lawyer or a CPA?" is a question asked by many. But unfortunately, there is no one-word answer to this. It depends upon what kind of help you want. If you need to get your tax returns reviewed, conduct tax planning, or get accounting work done, then you probably need a CPA. On the other hand, if you need to resolve any complicated tax matter, need legal representation in court, resolve tax debt, or handle civil and criminal tax cases, then using a tax lawyer's services is the better choice. What Does a CPA Do? Individuals and companies hire Certified Public Accountants (CPAs) to plan their financial ...

What is an IRS Guaranteed Installment Agreement – Qualifying Factors, and More


by Joe Valinho on January 07, 2021  0 Comment

What is an IRS Guaranteed Installment Agreement – Qualifying Factors, and More
Installment Agreements are the most popular IRS tax debt resolution plans. There are a variety of Installment Agreements that the IRS offers, including Guaranteed Installment Agreements, Streamlined Installment Agreements, Non-Streamlined Installment Agreements, and Partial Payment Installment Agreements. Each payment plan has specific qualifying factors. In a Guaranteed Installment Agreement, you can pay your tax debt in monthly installments if you owe $10,000 or less in tax debt.  What is a Guaranteed Installment Agreement? A Guaranteed Installment Agreement is an IRS tax debt payment plan which allows payment of full tax debt in installments within 36 months. You can only qualify for it if your tax debt is $10,000 or less. When calculating the total tax debt in order to qualify, ...