Source: ezinearticles.com
Do I need help with taxes, or can I handle things on my own? This is a question that many people struggle with. Are you one of them? When it comes to getting help with taxes you need to know where to turn, what you can do on your own, and whether or not you are taking a risk and asking for more trouble. Do it yourself work is not a bad thing, but only if you are confident in your ability to move forward without making any mistakes.
Do not flatter yourself. You only know so much about taxes, and you need to draw the line where applicable. For instance, you may feel comfortable filing your own tax return every year. This is a good thing, and millions of people do this. But if you are not capable of anything in addition to this, you should not push the limits. For instance, if you currently owe the IRS and are looking at an Offer In Compromise as a form of settlement it may not be in your best interest to attempt to file an Offer In Compromise or Installment Agreement yourself if you are not sure of how to do this. In this case, hiring a tax professional would be in your best interest because they normally lead to better outcomes.
In general here are some things you should look to work with a professional such as a CPA, Tax Attorney, Enrolled Agent, former IRS agents or other experts:
1) Tax Audit - typically you want representation and expert help here in dealing with the IRS in this situation
2) Offer In Compromise - this form of settling for less is rarely accepted by the IRS and a professional can help increase those odds
3) Partial Payment Installment Agreement - requires clear financial disclosure which a professional can assist with
4) Penalty Abatement - Reducing penalties or Interest is not easy
5) IRS Installment Agreements Over $25k - If you owe over $25k in taxes, a professional is best to work with here
6) Wage Garnishment - often times you can resolve this problem yourself, but if you want to do it quickly it is best to work with a professional
7) Other Levies - this would include things like a bank levy, or a levy on wages (wage garnishment)
Can I learn to do everything myself? It all depends on how much time you are willing to put in. A lot of people take the time to learn about everything that has to do with their taxes as well as the IRS code. The more you learn the less professional help you will need. There are a lot of books and online resources that can teach you about taxes, the IRS.gov, TaxDebtHelp.com, and others. But remember, the statistics show that a professional will usually provide you with better results than if you tried to take on your State Tax Collector or an IRS agent yourself.
Stop by backtaxeshelp.com to receive help with taxes whether you want to try to solve your tax problem yourself or by using a tax professional. We are a site dedicated to helping individuals resolve their tax issues. Connect with an IRS tax professional and read lots of useful information about specific tax debt problems and the best way to solve these problems.
