Let’s face it… every industry is plagued with misconceptions. For example, let’s take attorneys. You’ve heard the phrase “ambulance chaser” before, yes? Yet there are more good attorneys out there than bad! Think of all the friends you know who faced a contentious divorce and only came out of the marriage with some assets and their dignity intact, thanks to a great attorney. I would like to share with you some misconceptions about my area of focus: tax debt resolution…
- “Anybody can do it.” Technically, yes, this is true. But do they do it well? Given the taxpayer's financial circumstances, do they employ the best resolution strategy available? Do they consider all the subtle nuances required to ensure no harm is done? I have focused solely on negotiating resolutions to tax debts with the IRS and states for my clients for almost 25 years. It took me at least three years to truly grasp all of the concepts, practices vs. code/law, organizational movement within the government agencies depending on actions taken while defending a client, and how far I can/should push something, and almost more importantly, how far I can’t/shouldn’t. It is impossible to declare oneself an expert at something if it isn’t the person’s primary focus day in and day out for an extended period of time. We don’t have to be everything to everybody, which is why Golden Lion Tax Solutions only handles matters related to tax debt; we leave the tax strategizing, advising, payroll processing, bookkeeping, and tax return compilation to the specialists who center their practices on those areas of expertise.
- “Why not pay the IRS or state the money I would end up paying a professional to negotiate a solution for me?” First and foremost, if you or your client has a tax debt that warrants getting a tax debt resolution professional involved, the retainer you pay her/him is a small portion of the total debt owed. Let’s say your business owes $120,000 in unpaid payroll taxes and a tax debt resolution specialist is quoting you a retainer of $11,000 to defend your business and handle all matters related to the tax debt. If you choose to pay the $11,000 to the IRS, they will apply it to the oldest tax balance owed, including the penalties and interest, and you will still need to negotiate a solution to address the remaining balance of $109,000. Additionally, because payroll taxes are a trust tax, the IRS will not only seek repayment of the balance owed from your business, but will also seek personal assessment and collection of that portion of the balance owed from every person deemed individually responsible. If someone asks you to pay $11,000 to protect you and your business from aggressive collection actions, to handle the trust fund investigation and provide protection to anybody deemed personally responsible, and to negotiate solutions on behalf of all parties involved, I would say that’s a great deal! You can’t put a price tag on the peace of mind a professional will bring to your world while dealing with a sticky tax debt situation like this.
- “If I hire a tax debt resolution professional, I don’t need to do anything else.” Wrong. That would be akin to an overweight person hiring a personal trainer, then not showing up for any of the training appointments but expecting to miraculously transform into a cover model. A tax debt resolution professional will be able to map out how to take you and your tax account from the first point of contact to the final resolution. However, they won’t be able to get you to the end goal if you don’t do your part by achieving and maintaining compliance with your ongoing tax obligations, by submitting financial documentation timely and openly, and by actively engaging with them as they seek input when crossroads are reached. I always tell my clients that I will take them by the hand and navigate our way to the finish line, but they need to stay in step with me along the way. There is ALWAYS a solution… but we need your cooperation to get there!
- “All tax debt resolution firms do is scare people into hiring them.” I understand exactly how this belief was created because I’ve seen examples of it in black and white that new clients have shared with me. I am appalled to hear how these firms speak to people and use manipulative tactics to pressure clients to hire them. Here’s a solicitation document another professional recently shared with me:
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This looks legitimate, doesn’t it? This is the type of garbage that scares innocent taxpayers into calling the company. By the time the taxpayer realizes that the company is not the IRS but a tax resolution firm, the salesman has already secured enough information from the taxpayer to push emotional triggers and scare them into feeling like they have no option but to hire them to solve the debt. It’s emotional blackmail! Golden Lion Tax Solutions does not employ any tactics like this. Our clients are referred to us by other tax professionals who recognize our area of expertise and the personal responsibility we commit to our clients. They know their referred client will be handled with the utmost care and that through our collaboration, the client will view them as a rockstar for providing a fantastic solution to their tax debt problem.
If you or your client has a tax debt situation, don’t let misconceptions about the tax debt resolution industry shy you away from tapping a viable solution to the problem. You simply have to do your homework! Jump on a call with any tax debt resolution expert that piques your interest and feel them out. Ask how long they have been focusing on resolution cases, what else they may dedicate their work week to, the toughest case they have ever solved, and any other resolution-related questions you may have. Ensure the person you speak with is focused on your conversation, asking pertinent questions, and has a standard operating procedure that lets them investigate the case to determine the best options available for your unique circumstances.
If you are comfortable with the information we share in our blogs and social media or have reviewed our website and found the testimonials shared to bring you a sense of peace, call us. The Golden Lion Tax Solutions team has the knowledge and wherewithal to ensure your situation is handled quickly, efficiently, and in the best manner possible!
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Trust. Protection. Wisdom.
Your future and your family deserve the right protection. Golden Lion Tax Solutions will be your advisor and confidant throughout the entire journey. We guarantee to offer you or your business best-case solutions for your tax debt. We are by your side every step of the way. Start now and get your life back.
For help with your tax debts, email contactus@goldenliontaxsolutions.com or call 833-LION-TAX (833-546-6829)
Disclaimer: There are requirements that must be satisfied in order to qualify for some of the tax solutions we discuss on our website. Not all of our services will be suitable for every client. Golden Lion Tax Solutions is here to help you find the most appropriate solution to fit your situation.
