If you owe back taxes to the IRS, and you need tax relief companies to help you sort it out, a tax relief company like Larson Tax Relief can help. It promises to negotiate settlements and provide relief. But you may ask if this firm can deliver results for your specific tax situation.
This post provides you with the company’s history, services, costs, reputation, pros and cons, and to help you determine if they are the right choice.
Overview of Larson Tax Relief
Larson Tax Relief was founded in 1988 by former IRS attorney Brian Larson. Headquartered in Tampa, FL, they now have offices across the country.
The company states they have resolved over $2 billion in tax debt for over 100,000 individuals and small businesses. They advertise experience dealing with complex IRS issues.
Services Larson Tax Relief Offers
Larson Tax Relief provides tax resolution services including:
#1. Tax debt negotiation and settlement: With this service, you can work to reduce the total amount owed through OIC, penalty abatement, etc.
#2. Installment agreements: With this, you can set up a monthly payment plan with the IRS.
#3. Currently non-collectable status: It also allows you to pause IRS collections temporarily if you have financial hardship.
#4. Federal tax lien removal: You can work to get the IRS lien withdrawn after paying tax debt.
#5. Audit defense: Representation during IRS audits.
#6. Filing prior year returns: You can prepare unfiled past returns if needed.
So, they cover a wide range of options for resolving IRS tax debt issues.
Larson Tax Relief’s Client Requirements
To become a Larson Tax Relief client, you must:
- Have at least $10,000 in back tax debt.
- Have filed all past tax returns previously as required.
- Have personal or self-employed tax debt (no corporate tax issues).
This makes them best suited for individuals or solopreneurs with substantial IRS tax burdens.
How To Apply For Larson Tax Relief Services
Applying for help from Larson Tax Relief involves a few key steps. The specifics can vary depending on your tax situation, but below is an overview of what you can generally expect:
Step 1. Initial consultation
The process starts by contacting Larson Tax Relief to schedule a consultation. This can be done through their website or by phone. During the initial call, you’ll discuss your tax issues with a professional from their team. They’ll ask questions to understand your situation and give you a high-level assessment of how they may be able to help.
Step 2. Provide documentation
After the initial call, the tax pro will likely request documentation to do a deeper dive into your tax history and current issues. This can include past tax returns, any notices from the IRS, financial statements, or other paperwork relevant to your case. Gathering these materials promptly is key to keeping things moving forward.
Step 3. Review and analysis
The team at Larson will thoroughly review all the documents you provided. They’ll conduct a comprehensive analysis of the specifics of your tax problems. This helps them determine the optimal approaches for resolving your issues, whether it’s through an Offer in Compromise, Installment Agreement, or other tax relief strategy.
Step 4. Propose a customized plan
Based on their research into your case, Larson Tax Relief will outline a tailored tax resolution plan. It will specify the recommended actions they’ll take on your behalf to address the tax issues. Review the plan closely, ask any clarifying questions, and confirm you agree with the approach before moving to the next steps.
Step 5. Implement the plan
If you give the green light on the proposed plan, Larson Tax Relief will kick off implementation. This can involve negotiating with the IRS, filing amended past returns, stopping wage garnishments, or other tax resolution tasks. They will keep you updated throughout the process as your case progresses.
What Does Larson Tax Relief Cost?
It offers a free initial consultation. They state average fees of around $3000 for tax debt under $25k. Additional services or state tax representation costs more.
Their fees are a percentage of the total enrolled debt. For example, debts between $10k-$15k have a fee of 20% of the amount owed. Payment plans are available.
Pros of Larson Tax Relief
Some advantages include:
- 20+ years of tax resolution experience.
- Halts aggressive IRS collection action.
- The founder is a knowledgeable tax attorney.
- Upfront about fees compared to some competitors.
For wage garnishments and straightforward IRS negotiations under $25k, Larson Tax Relief can provide relief.
Potential Disadvantages
- Low responsiveness and poor communication once enrolled.
- Confusing contracts and solutions are not properly explained.
- Not accredited with the BBB, AFCC, or other tax professional organizations.
- The contract states minimum fees apply even if no settlement is reached.
So, look at the details carefully and compare options thoroughly before enrolling.
How Does Larson Tax Relief Work?
If you enrol with Larson Tax Relief, here is what you can expect:
- An initial consultation with a case manager to review your tax debt situation and prepare a quote.
- Submit documentation to verify your tax debt if you choose to hire them.
- A licensed tax attorney takes over your case and handles communicating with the IRS.
- The attorney works to negotiate settlements, instalment plans, currently non-collectable status, or other tax relief options on your behalf.
- Larson Tax Relief provides updates as your case progresses over 2-12 months typically.
- Once resolved, you receive documentation from the IRS confirming the details of the negotiated tax relief solution.
While every tax situation is unique, having an experienced tax attorney handling the IRS negotiations for you can streamline the process.
Is Larson Tax Relief Recommended?
For taxpayers with wage garnishment or basic personal IRS tax debt under $25,000, Larson Tax Relief offers reasonable services and pricing. Just be prepared to stay on top of your case’s progress.
Those with more complex tax issues may prefer an AFCC-accredited firm. As with any company, thoroughly research reviews, BBB ratings, full costs, and satisfaction guarantees before deciding.
While a decent option for some situations, service may not be the optimal choice for everyone with IRS tax debt. Compare top-rated tax relief companies to find the best match.
Conclusion
This article provides useful insights on Larson Tax Relief to guide your tax resolution process. The sooner you address IRS debt, the sooner you can overcome it for good.
Consult a tax pro for personalized advice. Through the right tax resolution assistance, you can eliminate IRS debt and regain financial freedom. Take that first step now towards a life free of tax debt with Larson Tax Relief!
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