IRS Back Taxes Relief and the Small Business

With the economic downturn, and the Federal Government borrowing at record amounts, it should be no suprise that State Revenue Departments and the IRS are looking at ways of collecting those with State and IRS Back Taxes while at the same time reducing shelters. 

When considering any tax resolution firm to help "resolve" or "settle" the amount owed to the State or IRS, there are a few key things to keep in mind.

1) Make sure the firm is diverse in the sense of having professionals from different backgrounds. A CPA will have their benefits so much as a Tax attorney or an Enrolled Agent will have. A diverse tax team is not only more efficient but will usually obtain a better outcome.

2) Beware of tag lines to reduce your taxes "guaranteed" or your tax liabilites. Nothing is guaranteed when dealing with State tax revenue departments and the IRS. If any company tells you that they can obtain a certain result "guaranteed" run.

3) Don't accept any company that requests a "retainer fee" or anyone that requries any upfront payment. Until services are rendered, in my opinion you should not be responsible for them.

4) Find out other details about the company. What is their success rate? How long have they been in business? Who are their partners? Do they have a money back guarantee?

Tons of companies during this deep recession are facing troubles, sometimes using tax dollars put aside for estimated payments to continue operating. Being ethical, in the sense of paying taxes owed to the State or IRS is admirable, but not resolving or trying to ignore unpaid taxes shows a lack of leadership for the customers that benefit from your business and your employees.