The IRS has several policies to help taxpayers and businesses lower their tax burdens and solve tax-related issues. However, identifying the laws and changes applicable to you may be challenging.
A tax relief expert can help you navigate these policies to avoid costly mistakes. By consulting them before the 2023 tax season, you will maximize deductions.
Ways a Tax Relief Expert Can Assist
The high inflation experienced in 2022 influenced the IRS to change tax brackets for joint and single filers. This means that you will likely pay a lower or the same amount of tax even if your income increases slightly. A tax relief expert can help you determine the amount you owe based on the new tax brackets. Further, they will calculate the credit you qualify for to lower your tax burden.
Each state has different laws on inheritance and estate tax. For example, Texas does not charge inheritance tax, but you will incur federal estate taxes. However, you will only have this obligation if the inherited property exceeds a particular value.
Tax relief experts understand estate and inheritance tax laws. With their help, you can determine if you qualify for an exemption and present the needed documents.
Other ways an expert can assist before the 2023 tax season are:
- Identifying itemized tax deductions you qualify for
- Filing a tax appeal
- Disputing a tax refund
- Filing back taxes
- Filing your 2022 taxes
If you owe the IRS, you need to repay to avoid penalties and fines. Consulting a tax relief expert allows you to verify if the amount listed in your notice is correct. The professional can also help you apply for an installment program if you cannot repay the debt in one payment.
Consulting an expert on tax debt will ultimately lower the risk of wage garnishment and liens. Besides, you may stop the IRS from seizing your assets.
How to Find a Good Tax Relief Expert
Tax consultants have varying qualifications and specialties. It is crucial to research when looking for a professional before the 2023 tax season. This way, you can get value for your money and avoid common tax mistakes.
One way to find a good tax relief expert in your area is by asking for referrals. These can come from family, friends, and local social media groups. When you consult someone who has helped a loved one before, you can feel confident with their guidance.
Other tips for finding a good tax relief expert are:
- Read online reviews
- Ensure the tax resolution firm has a proven track record
- Look for a CPA with enough tax education
- Verify certifications
Proper communication is vital when dealing with a tax resolution expert. When looking for someone to consult before the 2023 tax season, ensure they have reliable written and verbal communication. The expert should also explain the current tax laws in a way you can understand.
Tax Relief Services You Can Get At FinishLine Tax Solutions
FinishLine Tax Solutions specializes in national tax relief and resolution. We have a team of CPAs and attorneys who can help you navigate different policies and repay taxes. Some of the offered services are:
- IRS audit representation
- Wage garnishment release
- Filing back taxes
- Payroll tax debt relief
- Negotiating for the IRS Fresh Start program
Another service offered by FinishLine Tax Solutions is business tax preparation. Our experts can also help you apply for a Fast Track Settlement (FTS). This program speeds up tax dispute resolution using alternative methods.
Contact FinishLine Tax Solutions to Talk to an Expert
Navigating the 2023 tax season does not have to be complicated and frustrating. FinishLine Tax Solutions offers the resources and guidance required to understand tax laws. Consulting us allows you to maximize deductions and evade penalties. Contact us now for help with your tax situation.