My guest blogger today is Dagny Kight. She has an upcoming ebook called Lower Your IRS Debt which will help individuals with a step-by-step process to determine on their own if they can settle their tax debt for a lower amount.
Are you old enough to remember when we bought magazines through the mail in the hopes that the Prize Patrol would show up with a giant check? The marketing strategies of the famous publishing house sweepstakes are perhaps best remembered by the tagline, “You may have already won!” The ambiguous catchphrase led many people to believe they were indeed the lucky winner!
Tax resolution firms make heavy use of direct mail. You may have already started receiving their letters, particularly if the IRS has filed a Federal lien against you. The envelope will be made to look official. You will be urged to “Respond Immediately! Important Information About Your Tax Debt!”
When you open the letter, in many cases it will be from a company with a generic name like “Tax Resolution Specialists” or “Tax Settlement Department.” They will get the amount of your tax debt from public records so it will look like the letter was written just for you. The letter may claim your IRS debt can be lowered to maybe a third or even a quarter of what you owe. When you’re faced with an IRS tax debt, you may want to rush to the phone and call right away for a deal that good!
The ads are very persuasive because tax resolution firms try to charge thousands of dollars. If their fee and the amount of savings they claim they can get for you are many thousands of dollars less than your total IRS debt, wouldn’t you be tempted to sign on the dotted line? That’s what tax resolution firms are counting on!
Remember these two important facts:
- NO ONE can “estimate” what your tax savings might be without calculating your complete financial disclosure.
- NO ONE can guarantee how the IRS will decide when they review your complete financial disclosure.
I have an upcoming ebook, Lower Your IRS Debt, which will help you calculate your own financial disclosure and submit an application to the IRS for review. No matter how you ultimately complete your tax settlement, a complete financial disclosure will be required. I’ll take you step by step through the process I used successfully to lower my IRS debt from $42,564 to $1!