Tax season is stressful, even more so when you owe more taxes than you budgeted for. If you’re in this situation and unsure what steps to take to reduce your tax debt, look for professional tax resolution. Our partners at ConsumerAffairs researched the best tax relief companies in Omaha to help you understand tax debt relief programs, estimate service costs and choose a tax relief provider.
Every year, taxpayers in Omaha end up in tax debt because they underreported income or underpaid on their tax bill. Back taxes build up when taxpayers are behind on their taxes or tax filings for over a year. Whatever the cause, taxpayers qualify for professional tax relief if they have a minimum debt of $10,000. Luckily, getting professional tax relief in Omaha helps manage and reduce your debt.
The IRS creates and manages tax debt relief programs, but tax debt relief companies in Omaha help taxpayers navigate these programs and deal with the IRS. Experienced tax professionals negotiate payment agreements and seek settlements with the IRS to reduce the taxes owed. One example of these settlements is an offer in compromise.
An offer in compromise is an agreement between you and the IRS that settles tax debt for less than the full amount owed. Before the IRS considers your offer, you must be current on all your tax return filings and payments and not in an open bankruptcy proceeding. To determine eligibility for a settlement, the IRS considers your:
Ability to pay. Eligible applicants either cannot afford their taxes or paying them would create a financial hardship. People able to pay their taxes through a payment agreement are usually not considered for an OIC.
Income. Applicants in Omaha whose income has substantially declined due to unforeseen circumstances get priority.
Expenses. Applicants who have significant expenses due to catastrophic issues like natural disasters or serious illnesses are also preferred.
Asset equity. Applicants in Omaha must have little or no assets, or the assets they own must have little or no value.
Generally, the IRS approves an offer in compromise when the amount offered is the most the government expects to collect within the ten-year limit on tax collection. If you’re considering an OIC, use the IRS Offer in Compromise Pre-Qualifier to check your eligibility.
How much does tax relief cost in Omaha?
Tax relief prices in Omaha vary because tax resolution companies offer different services. Tax relief in Omaha runs as little as $250 or upwards of $10,000, but an average case costs $2,000 to $5,000. Some factors that increase the cost are the amount of back taxes owed, the time it takes to handle the case and the complexity of your resolution. Additionally, tax debt relief companies may charge fees like:
Time-based fees: Based on the time it takes to represent the client and resolve the case with the IRS.
Debt-based fees: Based on the amount of tax debt a client owes to the IRS.
Upfront fees: Flat fees the company requires the client to pay before providing services.
Tax debt relief in Omaha can take as little as two weeks or up to six months. This period varies depending on case complexity and what tax debt relief programs you qualify for.
It’s worth noting that these prices do not include the amount of tax debt you owe to the IRS, only what you owe the company for tax help services. Your goal is that the money you spend on professional tax relief in Omaha is less than the money the company saves you on your tax debt.
Once you establish a plan, price estimate and fees, a tax debt relief company has you sign a contract. Make sure you read and understand all aspects before signing. Be aware that the contract requires you to pay upfront, make monthly payments or some combination of the two.
How to choose legitimate tax debt relief in Omaha
When you’re ready to look for a tax debt relief company, make sure the company is legitimate. First, check the company’s credentials. A reputable company should employ certified staff that specializes in tax relief, including licensed attorneys, certified public accountants and enrolled agents. Tax attorneys, CPAs and EAs are the only tax professionals licensed to represent clients before the IRS.
If a company does not employ these tax professionals, it’s likely a scam. You can use the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications to verify the credentials of or find qualified tax professionals. Beyond checking credentials, read reviews, and ask the company for customer references.
Anthem Tax Services is a national company that offers tax preparation and tax relief services in Omaha. The company specializes in helping taxpayers who have received liens and wage garnishments. Anthem Tax Services works remotely and deals with both the IRS and state tax authorities. The company is also an accredited member of the National Association of Tax Professionals and employs enrolled agents. Reviews say it’s easy to enroll with the company, the services are affordable and the staff is responsive to customer needs.
Community Tax is a full-service tax company staffed with attorneys, CPAs and enrolled agents that provides tax and IRS help in Omaha. The company’s services include tax resolution, tax preparation, bookkeeping and accounting. Community Tax doesn’t charge any upfront fees and only charges flat rates for its services. Customers say the staff is quick to respond, friendly and helpful in guiding clients through the tax resolution process.
Larson Tax Relief is a tax company that represents businesses and individuals across the country and specializes in state and federal tax relief. Larson Tax Relief offers free consultations and employs attorneys with business experience to handle business taxes properly. Customers give rave reviews for the company’s knowledgeable staff and how skillfully the staff handled their case.
Experienced tax lawyers at J. David Tax Law work with tax debts of more than $10,000. This firm can customize solutions to your unpaid taxes, unfiled taxes, tax liens, tax audits, bank levies and wage garnishments. Their quick application process makes it easy to see if you qualify.
Victory Tax Lawyers is a national law firm that serves individual and corporate taxpayers with tax controversy, resolution and litigation. The firm deals with the IRS and state tax authorities. All initial consultations with a licensed attorney are free, and attorneys work all cases. Customers say the firm makes the tax relief process simple, provides excellent customer service and resolves issues quickly.
Fortress Financial tax attorneys are experts in back taxes relief. Lawyers with tax debt experience personally handle each case from start to finish. Based in Oregon, Fortress Financial helps clients from any state. Local CPAs and lawyers may not be specialists in tax resolution services, but Fortress Financial is and has been solving tax problems since 2003.
Instant Tax Solutions is a tax debt relief company run by lawyers that provides services dealing with back taxes, IRS notices, tax liens, wage garnishment and bank or property levies. The company gives free consultations and serves customers in all 50 states. Reviews show the company resolves tax matters quickly, responds promptly and cares about its customers.
Attorney's Tax Relief
These tax attorneys based in Chicago serve clients nationwide. Attorneys Tax Relief boasts the highest Offer in Compromise acceptance rate and free consultations. The company helps individuals and businesses facing an IRS investigation and promises aggressive defense no matter what state a client is in.
The Tax Resolvers is a BBB-accredited tax relief company that works with tax attorneys, arbitrators and accounting experts to manage your IRS debt. This company also offers tax consulting, tax preparation and tax settlement. Online reviews are positive, and customers appreciate the help they received through The Tax Resolvers.