The old saying goes: there are two things certain in this world: death and taxes. When you fall into tax debt, it can feel like financial death, something impossible to get out of. That’s why so many people turn to debt resolution specialists, like People’s Tax Relief or PTR for short.
An Honest Review For People’s Tax Relief
People’s Tax Relief is a resolution company that aims to help U.S. taxpayers to re-establish themselves financially after experiencing outstanding debt. They rely on a simple three-step process to make the process as simple, painless, and fast as possible.
With millions of Americans falling behind in tax payments or unable to pay their obligations, companies like People’s Tax Relief are definitely in demand. And there’s a good reason for that: tax laws are ever-changing and always complicated. Along with that, the IRS and other state agencies can be especially aggressive when trying to collect a debt.
By hiring a tax resolution company, you can protect yourself from aggressive collection tactics while actually tackling your debt, rather than ignoring it. Whether you have collections, wage garnishments, bank levies, or liens, a specialist can help you find some peace of mind again.
Aside from that, you are likely not a tax expert. The professionals will likely have decades of combined experience to handle whatever situation you’re in.
As with many tax resolution services companies, they offer an array of options for whatever tax situation you find yourself in.
Tax Consultation With An Expert
With a tax consultation, you will be given advice and guidance regarding your tax challenges. For example, if you have a collection, they could help you understand what your options are and which will work best for you.
The benefits of consultation are mainly that you get more information – information about your tax situation, your options, and the long-term outcomes of your decision. By reviewing your taxes and financial situation, done by CPAs and Enrolled Agents with People’s Tax Relief Services, you can expect a faster, easier process of getting out from under your debt. A reason it’s so much easier to resolve your tax debt starting with a professional consultation is that they understand the intricacies of the situation and experience negotiating with the IRS.
With PTR, you can get a free tax consultation over the phone. During that call, they’ll review your tax concerns and explain your options and how they can help. After that, you’ll be able to decide whether you want to work with them or not to negotiate and resolve your tax challenges.
Can You Negotiate Tax Debt?
In some tax situations, you might be able to negotiate with the IRS or the state tax agency. While you can do this on your own, the task can feel overwhelming. People’s Tax Help includes negotiations, paperwork, and all communication with the IRS or state tax agency when you sign up for their negotiation services.
First, they will analyze your current issues and financial situation. With that, they advise you on the best course of action to take. At that point, you’ll be able to choose from several options:
- Tax Settlement
- Installment Payments
- Penalty Abatement
- Temporary Hold on Collection Efforts
- Waiting Out the Statute of Limitations
Using People’s Tax Relief’s three-step process, they will guide you to the option that makes the most sense for your situation.
As soon as the calendar turns to April, every taxpayer starts experiencing the same anxiety: Are taxes filed? Were they filed correctly? Did I miss anything?
They offer a solution in the form of their tax preparation services. Using CPAs and Enrolled Agents who are licensed by the U.S. Treasury Department and licensed to provide tax prep in all U.S. states and territories, you can rest assured that your taxes are filed and that you’ll get the biggest return possible.
Filing can be a lengthy, complex process. The forms are endlessly confusing and you soon find yourself swimming in a sea of numbers. By hiring a professional to prepare your taxes, you’re relying on their education and expertise, as well as their thorough understanding of all forms and tax laws. By filing correctly, you won’t have to worry about future issues with the IRS or falling into debt.
Another benefit is a bigger return, which is often far more than you would have gotten filing yourself and much more than the fee you pay for professional preparation. Because they specialize in helping people to become compliant with the IRS and state agencies, they also work with you to file any previously unfiled taxes and negotiate any penalties for filing late.
What Are Tax Resolution Services?
Tax resolution describes the process of working with the IRS and other state tax agencies to bring you into compliance and stop any collection processes. Though everyone has the legal right to do this on their own, it can be a messy labyrinth to navigate. That’s why hiring a specialist is often a wiser choice.
People’s Tax Relief offers an array of services and programs:
- Audit representation
- Criminal tax defense
- Dealing with the IRS
- Innocent spouse relief
- IRS tax discharge
- IRS tax expiration
- IRS tax installment plans
- Offer in compromise
- Payroll tax debt relief
- State tax issues
- Stop wage garnishments
- Tax levy release
- Tax lien removal
- Tax penalty abatement
- Tax preparation and planning
- Unified tax returns
How Much Will The IRS Usually Settle For?
A tax settlement is an arrangement you enter into with the IRS or state tax agency to make sure you are in good standing once the terms are complete. This can take a variety of forms, depending on your financial situation, tax circumstances, and what the agency agrees to. For a settlement agreement, negotiations have to happen. The IRS provides what’s called an Offer in Compromise and the average amount they are willing to settle for is $6,629.
For some agencies, agreeing to a tax settlement is simply a way to get at least a portion of their money back. When they know that circumstances prohibit a person from fully paying their debt, a settlement at least gets the agency paid something.
The best way to ensure a positive, appropriate settlement is to hire a tax resolution team who can negotiate on your behalf and explain your options to you. You’ll end up paying less because these experts can better negotiate a lower balance. This will also allow you to avoid more penalties and fees. By negotiating a settlement, they can also negotiate a payment plan so you don’t have to pay a large lump sum in one go. In agreeing to a settlement, often the agency will stop any wage garnishments, liens, and levies, as well. Ultimately, it’ll bring you into good standing faster than you would have without it.
Who Can Help Me with IRS Debt?
People’s Tax Relief believes strongly in their three-step system:
- Step 1: Contact them – Whether you choose to contact them by phone, email, or on their website, their whole process begins with that first conversation.
- Step 2: Free Tax Evaluation – Next, they want to see what they’re working with. They offer a free evaluation of your taxes and financial situation. This is done with a senior tax analyst who can explain the best course of action. The work on your case begins here. To speed up this process, have any applicable paperwork handy for your senior tax analyst.
- Step 3: Benefits Assessment – If People’s Tax Relief approves you, it means they are confident they can resolve your case. From there a licensed CPA and Enrolled Agent will start working on your case. They’ll issue the IRS Form 2848 and start working towards the best settlement.
Tax debt can feel crushingly heavy. When you’re in over your head, your best bet is to accept the help of a tax resolution professional. When it comes to your options for tax resolution specialists, People’s Tax Relief offers a wide range of services and their use of professionally licensed CPAs and Enrolled Agents can provide some much-needed peace of mind regarding your tax situation.