Dealing with IRS tax debt can be incredibly stressful. If you owe back taxes exceeding $10,000, the debt can feel overwhelming. Where do you even start when it comes to resolving tax debt with the IRS?
This is where tax relief companies like Shop IRS Debt Review can help. In this, we’ll explain how Shop IRS Debt Review works, their process for tax debt negotiation, what services they offer, what fees to expect, and what to know before choosing them for IRS tax relief assistance.
Overview of Shop IRS Debt Review
Shop IRS Debt Review is an independent tax resolution firm based in Rock Hill, South Carolina. Founded in 2018, they specialize in helping taxpayers negotiate settlements on IRS tax debt.
While Shop IRS Debt Review is not affiliated with or endorsed by the IRS, they have experienced tax attorneys on staff who handle discussions and negotiations with the IRS on your behalf. This can give you peace of mind that your tax issues are in competent hands.
In addition to IRS tax debt relief, Shop IRS Debt Review also assists with resolving state tax debt for unpaid taxes owed to your state’s tax agency.
Tax Debt Relief Services Provided
Shop IRS Debt Review offers a range of tax debt assistance, including:
Tax Debt Settlements:
Their main service, negotiating lump sum payoffs that are less than what you owe to fully resolve IRS tax debt. Settlements can reduce debt by 40% to 90%.
Installment Agreements:
Setting up IRS-approved monthly payment plans based on what you can afford. This pauses enforcement and accrual of penalties while paying debt down over 6-72 months.
Currently Not Collectible Status:
If your income is low, you can apply to temporarily pause IRS collections and enforcement until your finances improve.
Penalty Abatements:
Requesting that the IRS remove failure-to-file or failure-to-pay penalties assessed on late and unpaid taxes. This reduces the tax debt owed.
Audit Defense:
Representing you in case of an IRS tax audit and communicating with the IRS examiner on your behalf.
Unfiled Tax Return Preparation:
Preparing and filing any past due returns from previous tax years that you have not yet filed.
What Does the Process Look Like?
If you engage Shop IRS Debt Review for tax debt help, here is an overview of what to expect:
- First, you’ll have a free consultation to discuss your tax debt situation in detail so they understand your case.
- Shop IRS Debt Review will request your IRS tax transcripts on your behalf, which contain information needed to resolve tax debts.
- They will analyze the transcripts along with refunds you’re owed, assets, income, and other details to develop tax relief strategies.
- Based on your specific situation, they will present the relief options likely to save you the most money. This could be a combination of a settlement offer, penalty abatement request, installment plan, or currently not collectible status.
- Shop IRS Debt Review will then handle all negotiations, filings, calls, and discussions with the IRS on your behalf until your tax debt is resolved.
- Throughout the process, they will keep you updated on the status and progress as your tax relief case proceeds.
What Are Their Fees for Tax Resolution Services?
Rather than charging hourly rates, Shop IRS Debt Review uses flat fees based on how much you owe the IRS:
- Tax debt under $10,000: Fees range from $1,000 to $1,500
- Tax debt between $10,000 to $25,000: Fees range from $2,000 to $2,500
- Tax debt over $25,000: Fees range from $2,500 to $5,000
This covers their services for the entirety of the tax resolution process. They allow flexible payment plans for their fees without requiring full upfront payment.
Before hiring Shop IRS Debt Review, be sure to get free quotes in writing first and ask what is covered or not covered. Also, consider requesting multiple bids from competitors to compare rates.
Is Shop IRS Debt Review Right for You?
Shop IRS Debt Review is best suited for taxpayers who:
- Have IRS tax debt exceeding $10,000
- Cannot quickly repay tax debt based on current income and assets
- Previously tried negotiating with the IRS without success
- Own a small business with payroll tax obligations
For low-income taxpayers or those who just missed a tax return, IRS services like Offer in Compromise or currently not collectible status may be suitable options before hiring a paid firm.
What to Know Before Using Shop IRS Debt Review
Before choosing Shop IRS Debt Review for tax debt relief assistance, here are some important steps:
- Check their Better Business Bureau rating and read online reviews to confirm they resolve cases successfully.
- Verify the tax attorney’s credentials and years of tax resolution experience.
- Ensure you understand exactly what services are covered and any that are excluded.
- Request quotes from multiple tax relief companies to compare their fees side-by-side.
- Ask for a reasonable estimate of when they expect your tax debt case to be closed based on the specifics of your situation.
Conclusion
Getting IRS tax debt relief can be challenging. However, hiring a reputable tax professional like Shop IRS Debt Review increases your chances of resolving tax debt efficiently at an affordable cost.
Just be sure to do your due diligence before entrusting them with your IRS tax resolution needs.
