When all is said and done, you will of course want to be assured that whomever you choose as your professional representative will help you resolve your tax problem for the lowest amount allowed by law. Plus you want to know that it will be solved permanently. If the firm you're considering does not keep track of important factors about performance, you might very well consider this as a red flag. In other words, you should be cautious about working with a firm that doesn't retain information or who may potentially withhold information. After all, you would not want to have vital information withheld about your case.
Nothing is more important than working with a firm that has a good standing in the community. A good standing should include longevity, experience, and of course success. These are the factors independent businesses and financial specialists claim are critical when determining the success and veracity of the firm you employ. Merely witnessing advertisements on TV isn't enough to gain confidence in your representation, so check carefully before making a decision.
Naturally you don't want anyone to make unrealistic promises, but you want to be assured the firm you employ will do everything in their power to help you. A good indicator is the firm's proven track record, which of course is the most important indicator as to how the firm will manage your case. The strategies the firm applies in resolving your case is what matters most.
1.Pay heed to companies and telemarketers who receive payment on an incentive basis. They're paid just to bring in new business. Be particularly cautious of a firm that makes idealistic promises or promises the moon regarding end results. When you work with a reputable firm, you are assured of a top quality firm... a firm that provides the type of services worthy of your fee. Make sure the company has integrity.
2.Another red flag to look out for is a firm that charges a fee based solely on the amount of money owed the IRS. Generally speaking, the same steps are applied when resolving both large or small tax obligations. To determine whether you're working with the right firm, don't' be afraid to ask the tax resolution firm direct questions related to your case. If questions are evaded or answers seem far too complicated to understand, the firm may very likely be trying to mask the answers to your questions. When you're in a precarious situation, you want to know for sure that you're getting clear-cut answers so if you don't get the answers that make you comfortable, choose another firm.
3.Check out a firm that has been certified as a 'Certified Tax Resolution Specialist' (CTRS) and of course a firm that only handles IRS disputes. For your reference, a CTRS must pass a complex examination periodically, plus they must consistently take professional development courses that keep them abreast of important updates directly related to the field of tax mediation and negotiation. Use caution when choosing a CTRS, primarily because less than 1% of all enrolled agents are qualified tax resolution specialists. The CRTS title provides the proper identification so that you can separate the wheat from the chaff. In this case, it means choosing a firm that provides genuine resolution to tax problems.
4.Never make emotional decisions. Although you are in a difficult situation, think carefully before making a final decision as to whom you will choose as your tax resolution specialist firm. After all, you already have enough to worry about; you don't want to worry about your tax specialist as well. When dealing with tax issues, you want to feel well cared for, assured that your tax problem will be solved and at the lowest amount allowed by law. Although Attorneys, Accountants, CPAs, Enrolled Agents and former IRS employees may be valuable tax professionals for tax accounting work, they may not have the necessary skills and experience to solve your IRS issue. To get it done right, you must have a person in your corner that has the know-how to solve an IRS dispute. We at Cent$able Accounting are a dedicated team of individuals who have the skills, knowledge and expertise to walk you through the web of confusion regarding the IRS's set of rules.
In Conclusion:
•Check into the firm's 'Track Record' of success.
•Inquire as to how many years the firm has been in business... Has the firm been selected as a Certified Tax Resolution Specialist?
•Are you comfortable with the options available?
•How many 'Offers in Compromise' has the firm successfully settled?