Tax Relief Frequently Asked Questions
What are Tax Relief Programs? Do I qualify?
Tax Relief Programs are IRS programs put in place to assist taxpayers in potentially settling their tax liabilities for a portion of what is considered owed. Each case is unique and as such the specific resolution will differ from client to client. Once we complete the investigation phase of the process we will know what your best options are and develop a personalized plan of action. Millennia Tax Relief has helped thousands of clients take advantage of the best solutions available based on the specifics of each case. We are experts at helping you reach a tax resolution agreement with the IRS. Our Tax Relief Professionals will help you resolve, reduce or eliminate your tax liabilities. Our objective is to assist in resolving your IRS issues and save you money.
How long does tax resolution take?
There is no exact time since each tax resolution case is unique and depends on the specifics of the case. In the process, the IRS will require a considerable amount of information for processing and review. This requires that the client and company work together as a team to expedite the required information. A typical case can take from 5-12 months to resolve. During that time we are always in constant communication with our clients to update them on their case status.
Are tax resolution companies a scam?
It is unfortunate that in today’s world there are businesses and individuals that take advantage of good hard-working families in every business arena. Our business is built on a set of core values to respect and help families out of their current tax debt situation. We treat our clients honestly, just the way we would like to be treated when dealing with a delicate situation. Treating clients right and fulfilling your commitments is the only way to build a business with longevity. We pride ourselves on giving you common-sense answers to your questions and delivering on what we promise. Millennia tax relief is extremely proud of our performance and customer service record.
We are proud to be a Better Business Bureau Accredited Business, signifying our commitment to industry best practices.
Why do other companies charge less?
While we cannot comment on the charges of other companies, we can say that the end value received by Millennia customers far over-shadow the costs. When obtaining legal professional services cost is only a portion of what you should consider and it should never be your only deciding factor. Tax issues are serious issues! They can affect you for many years and cost you 10’s of thousands of dollars if not handled correctly. A large part of our business comes from clients that have already spent sizable amounts of money only to find out that the company they were working with fell short on performance. Most of the time shopping for the lowest price tax professionals ends up costing you much more in the long run. We like to get the job done right….the first time!
I had my account levied by the IRS. Once we file an Offer in Compromise can I get my funds returned?
If your account has been levied, the payments and credits received or that have been applied to your original tax debt before the Offer in Compromise will not get returned to you.
If you have an existing Installment Agreement and then get qualified for an Offer in Compromise, what happens?
The two are handled separately until agreed upon differently. So if you have an installment agreement you will continue to pay that agreement as agreed upon originally. If you do qualify for an Offer In Compromise it is possible that we can petition the IRS to reduce the payments or potentially stop the payments.
What personal property or assets can the IRS seize to resolve outstanding tax debt?
The basic answer is just about anything of value can be seized by the IRS.
- Real estate property
- Salary and wages
- Bank accounts
- Retirement accounts including IRAs, 401Ks, pension plans, and social security Alimony
- Licenses and franchising rights
- Intellectual property including any copyrights or patents
- Assets in court custody
- Inheritance proceeds
- Luxury items. etc.
The IRS cannot take child support or unemployment benefits.
Maybe I should wait to solve my tax debt. Maybe the IRS will forget about it.
Your tax debt will not disappear or miraculously be forgotten. There may be times when you do not hear from the IRS but that does not mean they are not fully aware of the debt owed. The best suggestion we can make is to be proactive in addressing the issues. Do not wait until you receive a Notice of Intent to Levy from the IRS to take action. In most cases, inaction is the main cause for IRS issues escalating. Waiting only leads to more penalties and interest increasing your liability. Waiting costs you money, time and unwarranted stress.
Once you get a notice from the IRS, they will take action.
Why should I use a Professional Tax Resolution Company to submit an Offer in Compromise or Installment Agreement?
While every taxpayer can personally call the IRS and try to work out a solution to their tax debt, most find themselves at a distinct disadvantage.
- Most taxpayers feel intimidated by the IRS, which is not the best mindset to have when handling serious issues
- The IRS representative you talk with is a tax expert. They know tax law and the tax code. Most taxpayers do not have the specialized tax knowledge to talk on the same level about tax code and law as an IRS representative.
- The majority of taxpayers do not possess the negotiation skills needed to get the best resolution possible.
- Paperwork must be submitted perfectly based on tax guidelines and any errors or omissions will create delays or rejections.
To guarantee the best resolution possible you need to work with experienced tax professionals who are experts in tax lax and the IRS tax guidelines. We help taxpayers take full advantage of the various tax relief programs available through the IRS.
Call Millennia Tax Relief at 800-697-7702. Ask to talk to a tax consultant about your tax debt issue. Trust us to get you back in good terms with the IRS!