Best Tax Relief in Corpus Christi, TX

What is tax relief?

Tax relief refers to the process of working with the IRS to lessen your tax debt or make paying it off more manageable. Typically, this service is only for people with at least $10,000 in tax debt.

The most common reason people in Corpus Christi owe over $10,000 in tax debt is back taxes. When you do not pay your taxes annually, you still owe them to the government, and the IRS has the right to collect those payments any time within 10 years. In 2009, an estimated 8.2 million Americans owed over $83 billion in back taxes to the IRS.

Some people get caught the first year they don’t pay while others make it up to a decade before the IRS comes to claim their back taxes. These back taxes now include interest and a 0.5% penalty for each month you’re late, up to 25%. Back taxes add up quickly, which is why you might require professional tax relief in Corpus Christi to square up with the IRS.

Tax debt relief companies in Corpus Christi guide you through IRS programs to minimize how much you owe. They do this by negotiating Offers in Compromise, establishing payment plans or finding errors in your tax forms. An OIC is a settlement you make with the IRS to pay off your debt for less than the original amount. Because these settlements are difficult to negotiate, professional tax resolution significantly increases your odds of success.

How much does tax relief cost?

The cost of tax debt relief in Corpus Christi varies depending on your situation and the company’s pricing structure. The more tax debt you have, the more you should expect to pay your tax attorney.

There are three ways that Corpus Christi tax relief companies structures their fees:

• Flat fees: $3,500 - $4,500
• Hourly rates: $200 - $550 per hour
• Debt-based: varies

Companies offering tax debt relief in Corpus Christi also typically charge an initial investigation fee of $250 - $500. A reputable company should be extremely transparent about the cost of its services and provide a contract that specifically outlines what you’ll pay. Never pay a tax accountant up front.

Remember that you still have to pay the remainder of your interest, penalties and debt after the tax relief company does its job.

How long does tax relief take?

The duration of the tax relief process varies significantly depending on the case. The average length of time is between two to six months, but, if the IRS denies your case, you may have to appeal, which takes another three to nine months to complete.

Tax relief companies in Corpus Christi also have to review your case and plan a strategy before the actual tax relief process. You should receive a specific timeline of your case after this initial stage is complete.

Tax relief scams

Unfortunately, some tax relief companies in Corpus Christi make grand promises that they can’t keep, such as full forgiveness or drastic reductions. Be realistic when you go into this process. For customers that legitimately owe what the IRS is seeking, most of the time, the only resolution is paying it off slowly over time.

To further protect yourself from tax relief scams, find a company that has:

• Licensed attorneys, certified public accountants or enrolled agents on staff
• Money-back guarantees
• Realistic assessments based on in-depth research into your situation
• Positive customer reviews
• Proof of results
• Upfront pricing

Know that some tax resolution companies in Corpus Christi will not offer a refund if they are unable to settle your case.

Tax resolution is not always simple, but, with these tips, you should be able to find services that fit your needs and budget.