Best Tax Relief in Oklahoma City, OK

What is tax debt relief in Oklahoma City

Before you choose a tax debt relief company, it’s important to know how tax relief in Oklahoma City works. Tax debt relief companies negotiate with the IRS on your behalf to try to lower your debt or create a repayment plan.

Taxpayers in Oklahoma City commonly face years of tax debt that they can’t pay back. These owed taxes are referred to as back taxes and come with hefty fines from the IRS each month you’re late paying them. If these unpaid taxes continue to pile up year over year, people find themselves facing thousands of dollars of IRS debt.

This is where tax debt relief companies in Oklahoma City help people with IRS debt. Examples of tax relief services include wage garnishment release, negotiating installment agreements and IRS appeals. Another option is an Offer in Compromise. An OIC means that a taxpayer settles with the IRS for an amount that is less than what you owed. These settlements are complicated to achieve, and the IRS considers several factors when negotiating an OIC, including:

• Income
• Expenses
• Asset Quality
• Ability to Pay

It’s worth mentioning that many tax relief companies will only negotiate on your behalf if you have a minimum amount of debt, usually $10,000 or more.

Finding honest tax relief in Oklahoma City

Unfortunately, there are many shady businesses in the tax resolution industry. Here are a few things to consider when searching for a reputable tax debt relief company:

• Years in business
• Employees should include enrolled agents, certified public accountants, licensed attorneys or all of the above
• Customer reviews and testimonials, especially from clients in Oklahoma City
• Beware of large upfront fees

How much does tax relief in Oklahoma City cost?

The amount of back taxes you owe and the complexity of your case affect your costs, but the average price for tax relief in Oklahoma City is $3,000-$5,000. Tax relief programs are complex and unique to each individual, but many tax debt relief companies offer free tax analysis that explains how the company can help you and includes a quote for the price. Ask multiple tax resolution companies for quotes so you can compare and save.

Tax debt relief companies will charge either a flat fee, by the hour or a combination of both. Know how your chosen company will bill you and how that may affect your case.

Even when working with a tax debt relief company, there is no set timeline to settling with the IRS. Tax resolution cases can take weeks or months to resolve, depending on how many years of back taxes you owe, your personal circumstances and the complexity of your case.