What Is Tax Relief

Learn More About Tax Relief

Tax relief is a new term used mostly on the Internet. In the last few years, the tax settlement industry has flourished and competition to acquire clients is fierce online. When industries go through change or demand for products and/or services increase, new phraseology often times accompanies the change or growth within the industry.

Tax Relief, as a term, is one of the most highly used phrases online that taxpayers use to find tax professionals to solve their problems. The phrase “Tax Relief” really defines a goal, not a specific problem. The goal in the mind of the taxpayer is to put their tax problem behind them.

When a taxpayer uses the phrase “tax relief” online, their problem usually entails payroll tax problems, unfiled taxes and/or years of accumulated back taxes, requests for an Offer in Compromise or a way to set up a payment plan with the IRS that is manageable and realistic for the taxpayer to afford. In some cases, taxpayers will use the phrase because they have committed fraud or another potentially criminal offense related to taxation. In these scenarios, it is important to know who to turn to for specific results.

In the case of fraud or another serious criminal offense, taxpayers are encouraged to contact an attorney that specializes in tax law in good standing with their state bar association. Many of these individuals have specialized education beyond the attainment of a Juris Doctorate (JD) and have also achieved a Master in Taxation (LLM).

Should You Use a Tax Attorney?

While tax attorneys are the professional of choice to turn to in cases of fraud or other criminal offenses, they may also be able to help you with other tax related problems. Understand, however, that not all attorneys that specialize in taxation necessarily specialize in the mitigation of tax problems.

Another way to obtain results is by using a CPA in good standing that specializes in tax problems. Know this, however: most CPA’s do not specialize in handling serious tax problems. If you seek out a referral to a CPA to handle serious tax problems, make sure they maintain a track record of success in handling these kind of problems or else you may be putting your trust in to the hands of a professional that may not be able to solve the problem effectively or may need to outsource the solution to another professional that does.

Enrolled Agents are another source of handling tax issues. Enrolled Agents are the only professionals that are federally licensed by the IRS that specialize in tax problem mitigation. Unlike attorneys and CPA’s, Enrolled Agents must take continuing education courses every three years to keep their license regardless of where they practice. Moreover, Enrolled Agents, unlike attorneys, do not typically charge by the billable hour thus decreasing the cost, in general, to reach the same result as a tax attorney.

If you are looking for help with taxes make sure you do proper background checks on both the providers of this service both as individuals and on the corporations they represent. If you perform your own due diligence and speak with a handful of providers, you’ll be on your way to getting the help you need from a quality professional in no time.