It is important to distinguish the work Tax Resolution Firms do from the work done by debt consolidation companies. Many debt consolidation companies have rightfully received numerous complaints and bad ratings because of the, in many cases, false or misleading promises they make to their clients who are often under duress. In most cases, the client’s credit rating has already been adversely affected, and the debt has been sold to collection agencies who have few options other than to nag consumers until they agree to pay something.
On the other hand, state and federal income tax authorities have much more power to collect back taxes that are owed. In addition to auditing returns and filing substitutes for returns, tax authorities can place liens on taxpayers’ assets and more aggressively seize funds through bank levies and wage garnishments. In these types of situations, our firm can benefit clients immensely through informed action, representation, and resolutions that protect our clients’ assets and financial security. Even in our domain, however, there are companies that make promises they can’t keep. While there are legitimate ways to reduce tax liabilities over time, broad claims to reduce taxes to “pennies on the dollar” are misleading at best. For example, nearly two-thirds of offer in compromise (OICs) applications should never have been filed in the first place according to the IRS.
At Accelerated Tax Solutions, our process begins with getting to know your personal financial challenge and then explores exactly what the tax authorities think they know. Guided by experienced attorneys and veterans in the field of resolution, our team then works to put you in the best position legally possible, keeping you informed throughout the process. As a result, we have served 1000s of individuals, families, and businesses by providing actual and affordable options to address their state and federal tax liabilities.