Tax FAQs

WHAT IS TAX RELIEF AND HOW DO I QUALIFY?

Tax relief is a program that the IRS put into practice years ago to allow taxpayers to potentially settle tax debts for a percentage of what is owed. Tax Relief is available on different levels depending on your specific tax situation. While the IRS does not openly promote these programs, Optima Tax Relief specializes in finding the best possible solution for those who qualify.

Falling behind on tax payments to the IRS is something that millions of Americans have dealt with at one time or another. Owing money to the IRS can be very intimidating, but don’t worry and definitely don’t lose hope – there is tax relief available.

HOW DOES OPTIMA TAX RELIEF WORK?

The IRS is the world’s most powerful collection agency that can seize your home or bank accounts, garnish your wages. Your options often look something like this: pay the amount in full, or, pay it back over time with interest and penalties. Optima Tax Relief specializes in resolving and reducing IRS or State Tax Debt. Our unique “Two-Phase” approach is truly revolutionary in the Tax Resolution industry. You will have a detailed understanding of your options.

HOW TO GET TAX RELIEF FROM THE IRS?

There are many ways to manage tax debt if you’re unable to afford to pay your tax liability and want to remain compliant and out of collections with the IRS. If you’re looking to resolve your tax bill, here are a few factors to consider:

1.  Installment Agreement

If you’re able to afford monthly payments to the IRS, consider working out an installment agreement. This long-term payment plan requires that all necessary tax returns have been filed and you owe $25,000 or less in combined tax, penalties, and interest. 

 2. Hardship Options

For taxpayers who don’t have the ability to pay off their tax liability in full and can’t afford a monthly payment plan with the IRS, you may qualify for hardship options. The IRS offers a temporary hardship agreement to taxpayers who don’t have the current ability to pay off their liability based on their financials. If you’re attempting to request a hardship agreement with the IRS, they will request the following:

  • A list of savings, sources of income, and assets. 
  • Your most current bank statements.
  • Market value for assets.
  • Proof of income within the last three months.

3. Personal Loan

If you’re looking to pay off your tax liability as quickly as possible but don’t have the funds available to you, consider taking out a personal loan. If you’re able to secure a loan for less than an IRS payment plan, it may be ideal to take out the loan and pay off your outstanding balance in order to stay out of collections.

HOW DO TAX RELIEF COMPANIES WORK?

Tax relief companies work by negotiating with the IRS on your behalf for an agreed fee. A trustworthy tax relief company may contact the IRS and negotiate an offer in compromise, installment agreement, or penalty or interest abatement. A reputable tax relief company like Optima Tax Relief can help you reach a tax relief agreement with the IRS. Using proven strategies, our knowledgeable experts can assist you through tax audits, help reduce your tax debt, and stop wage garnishments and bank levies from happening. In some cases, you may be able to settle tax debts for much less than was originally owed. The tax relief experts at Optima Tax Relief are available to be your dedicated resource to save you the most money while resolving your IRS debt in the shortest amount of time possible.

HOW DO I PROTECT MYSELF FROM TAX RELIEF SCAMS?

It’s important to take precautions against tax relief scams and tax-related identity theft. We created an in-depth article about tax relief scams. Make sure you arm yourself with the right information. Optima Tax Relief is a legitimate tax relief service, we are a nationally known brand that handles many tax issues. For peace of mind check out our reviews on this website and third-party websites Nerd Wallet, Inc., The Muse & more.

 

HOW DO I GET STARTED?

Call one of our Tax Specialists today for a free, no obligation consultation. We will determine whether we can represent you and work on guiding you to the best possible tax solution for your specific case. If you choose to become a client, we will start working immediately on your case to help resolve your tax issue in the quickest and most effective way possible.

HOW MUCH WILL I SAVE?

Each individual case is unique, and we may not be able to save you anything at all. We can evaluate your case, determine if you will qualify as a client and help determine if we can save you money. For those that qualify, we have typically been successful in saving our clients’ money on their tax debt as well as settling cases for a fraction of the amount owed.

HOW LONG WILL IT TAKE OPTIMA TAX RELIEF TO GET INVOLVED?

Optima Tax Relief will get involved the moment you become a client. In most cases, our clients wait until the last moment or have exhausted all other resources. Whether that is a wage garnishment, bank levy, aggressive phone calls, letters, etc. we begin providing assistance on your behalf and work on resolving the specifics of your case as soon as you sign up with Optima Tax Relief.

HOW LONG DOES THE TAX RELIEF PROCESS TAKE?

Every Tax case has its specific challenge and procedures. In most tax relief cases; the process takes anywhere from 2 to 6 months to resolve. Once we determine how complex your tax issue is, we will be better able to determine your case timeline. Our goal at Optima Tax Relief is to achieve the best possible result regarding your specific tax situation in the quickest possible way.