It can take anywhere from 1 week to more than a year. It depends on which resolution option we pursue and how quickly the IRS can verify your financial situation.
It also depends on how available you are to work with your tax professional. The more you keep in touch with your accountant, the better he or she can meet filing deadlines, and the quicker the process might go.
A tax professional will charge anywhere from $2,000 to $5,000 and up to resolve your tax problems. But don’t focus too much on this figure. A qualified tax professional can save you thousands of dollars, so choose your provider based not on fees but on qualifications, experience, proven results, and the money you will be saving by securing the most favorable tax relief you are entitled to.
Yes, most reputable tax professionals will allow you to pay in installments, as the work is being completed.
Be sure to honor whatever agreement you work out with your provider. If you miss payments, he or she will likely suspend your account until you resume payments, which can delay the resolution process.
You should be prepared to provide every document that relates to your financial situation. Here are some examples:
Each officer is different – but you should know that they will turn your records inside out. They operate on overkill, gathering every single document that might in any way reflect your financial situation.
The IRS also strictly adheres to deadlines, and if you miss a particular filing date, you might need to start over at the beginning of the process. This is another reason why it’s important to make yourself available to your tax professional.
When working with an accountant, the success of your particular strategy partially depends on you. Here are three points to keep in mind when getting your tax resolution efforts under way:
Our clients faced the same turmoil you are dealing with right now. We helped them get back on their feet, so they can confidently live life free from the grip of the Internal Revenue Service (IRS). Our Certified Public Accountants (CPAs) are available right now to help you with your IRS debt. Just give us a call.