Irs Tax debt settlement
  • March 28, 2017
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In the event that the IRS has summoned you, you may have stumbled across a number of TV commercials tax debt settlement firm that promise to settle your taxes.  Uncollected taxes are way above 280 billion and growing each day, which is why the IRS is constantly striving to collect from individual taxpayers and businesses. To remedy an otherwise frightful ordeal, many agencies help slack taxpayers with their debts, including filing for IRS debt relief. Negotiating for IRS debt forgiveness is a lifesaver for many; however, reaching out to the right people is important to set realistic expectations and chart the best course of action. Continuing the discussion, the blog post gives detailed answers on the authenticity of tax debt settlement firms and what you can expect. Take a look.

What are Tax Settlement Firms?

Legal agencies in the US provide tax settlement services to assist taxpayers in minimizing the amount of debt they owe the IRS. Most such firms have a litany of tax experts, some ex-employees of the IRS who can bat on behalf of clients to resolve issues to do with unpaid taxes. Though most firms are legitimate and may indeed have former IRS employees employed, some misrepresent their makeup and competencies to hoodwink unsuspecting taxpayers with such bold claims, as the ability to get all your tax debt written off in a jiffy. You must avoid falling prey to such tall claims and be in a position to identify fraudsters. Falling into the hands of fraudsters lands you into more trouble that when you started out.

Must Read: Common IRS Issues We Can Help With

What Do Counterfeit Tax Settlement Firms Do?

Most tax debt settlement firms promise to send one of their IRS experts to the IRS offices to mediate, or persuade them to accept a relatively smaller amount as compared with what you owe the IRS. Some tax settlement firms even convince taxpayers that their experts can pacify the IRS into accepting pennies for dollars, allowing the taxpayer to walk scot-free. In reality, such results are hardly achievable and if it sounds too good to be true, it probably is. Getting complete tax debt relief from the IRS is virtually impossible, unless the taxpayer is either incapable of getting employment or has no assets that are valuable enough to cover the unpaid tax liabilities.

What Do Genuine Tax Settlement Firms Do?

Authentic tax debt settlement firms leverage a universally accepted and legally approved procedure known as “Offer-in-Compromise” to slash a significant amount of your tax debt. It is a special type of tax debt settlement, wherein a taxpayer can get substantial relief from their tax debt, in exchange of a much lower value. Though the process is undoubtedly lucrative, the taxpayer is required to furnish comprehensive details about their current assets, liabilities, and even projected income. The number of Offer-in-Compromise approvals is fairly low, given the fact that taxpayers need to prove that the stated amount is incorrect, chances of making a full payment are very low, or paying the taxes can result in financial turmoil for them. In addition, getting approval on an Offer-in-Compromise is a time-intensive process that may take several months, which is why taxpayers shouldn’t let fraudulent tax settlement firms take them on a wild goose chase.

How to tell a genuine tax debt settlement firm from a fake one?

Though there are no proven ways to spot a genuine tax settlement firm from a counterfeit one, you can always look for specific red flags. If a firm claims to have the ability to get your tax debt waived completely or significantly, overnight, chances are it’s a scam. Any representative of a tax debt settlement firm that makes such bold claims, without getting insights about your financial background is more likely to be a scammer. Genuine and credible tax settlement firms first gather the necessary financial data, before providing a realistic assessment of what they can and cannot do for tax relief. Moreover, authentic tax settlement firms backup every claim they make and charge a fixed, reasonable fee for their services. Fake tax debt settlement firms, on the other hand, make unrealistic claims and have vague pricing structures. More often than not, they charge non-refundable upfront fees, and try to mint more money once the taxpayer is deeply involved in their ‘tax debt settlement process’.

Stay Alert!

Delinquent taxpayers often make every effort to get IRS debt relief, as the IRS has the legal right to seize assets and deploy extreme debt collection measures. Most taxpayers find the IRS to be the most intimidating among all creditors. Riding on this fear, many fraudulent firms defraud unsuspecting taxpayers looking to amicably resolve their outstanding tax debts with the IRS. It is therefore, advisable to always stay alert when seeking professional help in settling your tax debts. You need experienced and reputable professionals to give you proven results. If you are facing tax debt issues and wish to seek some reprieve, The Law Offices of Nick Nemeth is here to help. To learn more about tax debt settlement pros and cons or to get a no-obligation free consultation, fill out our contact form and we will get back to you right away. You can also call us at (972) 426-2553 to schedule your free consultation with Attorney Nick Nemeth.

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What Our Clients Have to Say

Brent VahleBrent Vahle
19:13 02 May 24
I called to see if they could help reduce some penalties and fees. The person I spoke with told me it might be counterproductive for them to take my case since their feels would likely equal the amount of penalty/interest abatement. I decided to pass on moving forward but was so happy to hear a legal team, or any business for that matter, who has that much integrity. I feel most others would likely try to take my money anyway. I hope I never have to go through this again, but if I do, I will definitely use the Law Offices of Nick Nemeth!
Jason WinkleJason Winkle
18:44 02 May 24
Jaime Flores was very friendly, professional, and knowledgeable. She gave me some very valuable information which helped guide me with a plan of action. The free consultation is very much appreciated.
Matthew SwigartMatthew Swigart
12:14 02 May 24
Great attorney who was able to provide quick and useful advice. Although my situation did not warrant their services, they still took the time to discuss solutions I could explore. I highly recommend visiting this office!
Tony PantojaTony Pantoja
12:57 09 Apr 24
Very professional and very knowledgeable, Jamie Flores was very straight forward and professional, a firm that doesn’t just take your money, Thanks
Carla AtwalCarla Atwal
10:52 02 Apr 24
Nick was wonderful in guiding me with direction on some tax questions I had. He was concise, and to the point, and was happy to provide general info to me at no charge. I truly appreciate him and would highly recommend him.
Miguel AlvaradoMiguel Alvarado
15:56 25 Mar 24
By far the best attorneys I have ever worked with. They’re are very helpful and supportive from day one. They went above and beyond to make sure all my documents were submitted on time and gave updates as soon as they received them. I cannot name a single flaw in their work. Their team of assistants are very professional and seem to all be on the same page. I’ve made multiple phone calls and sent a ton of emails to their staff and they were able to help me all through the course of the case. I cannot express my gratitude enough for how excellent they handled my case.
Lucy FoyLucy Foy
06:55 19 Jan 24
My first appointment I had with, Tax Attorney Nick Nemeth, gave me such a sense of relief. He listened and gave me his professional advice, Mr Nemeth took my case. I was well kept updated, by phone calls and letters. That really impressed me and gave me so much confidence in them. The case went on for a couple of months. The day I received the call from one of his team members Kyle, informing me that the case was resolved and that I owed absolutely nothing to the IRS, I was overwhelmed with joy. I would recommend this law firm to anyone that needs help, with any tax issue. Thank you, to the Law Firm of Attorney Nick Nemeth and his team.
Bradley RunyonBradley Runyon
20:17 13 Jan 24
I received a tax bill in the mail from the IRS last year in 2023. The fees and penalties I owed were something I myself could not afford. I reached out to Nick Nemeth's firm and received the best experience you could imagine. The team was professional, educational, and fast. If you have a tax issue with the IRS using another firm other than Nick Nemeth's would be an error in judgment. I would recommend their services above others.
Sue HulsemanSue Hulseman
19:55 11 Jan 24
Working with Nick Nemeth and his team to resolve my debt with the IRS was the best decision I could have made. I felt such relief knowing I didn’t have to deal with the IRS myself. They did a wonderful job and were responsive to my questions and kept me abreast of my case. My outcome was exactly what I was hoping for. I strongly recommend using them if you have an issue to resolve with the IRS.
20:53 21 Dec 23
I had an incompetent tax preparer, who also ignored several notices from the IRS, which in the end resulted in a lien on my property. I did not know what to do and an attorney friend recommended that I contact the Nick Nemeth Law Offices. I met with Jamie Flores and Ivan Nalbantov in December 2021 for a free consultation, and right away was impressed by their thorough examination of my paperwork and extensive knowledge of IRS tax laws. I felt not pressured and appreciated their advice and in the end decided that I would pursue resolving the issue by myself. I paid the IRS Civil Penalty and, as recommended also submitted a letter to the IRS requesting a refund and explaining what happened. I am glad to report that my persistence finally paid off. My case took two years to resolve and I finally received a full abatement/refund check from the IRS in December 2023. I could not have done this without the straightforward recommendation of Jamie and Ivan; and I highly recommend the Nick Nemeth Law Offices to anyone needing help with the IRS.
Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
Sarah HowardSarah Howard
03:44 14 Nov 22
I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
00:33 07 Aug 22
I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
19:44 12 Jul 22
During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
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