FAQ

What Does Optima Tax Relief Do? (Solved)

Comprised of Tax Professionals with over 25 years of experience, Optima Tax Relief is a full service Tax Resolution firm that can handle almost any IRS or State Tax Issue. Our team is on hand to provide answers for clients impacted by garnishments, bank levies, liens and other challenges.

What is Optima Tax Relief?

  • Optima Tax Relief has tax professionals who can handle most IRS and state tax issues. They help clients resolve and reduce tax debt while also bringing them into compliance with laws. Furthermore, they will provide protection for those whom are being threatened by collection agencies.

What does Optima Tax Relief charge for their service?

The cost range for the tax relief portion of Optima’s services is going to run between $2,000 and $5,000 depending on your specific needs. The initial fee for the investigation phase will be $495.00. You’ll have to pay this in full before Optima will take your case.

Who qualifies for Optima tax relief?

You must have been unemployed for a minimum of 30 consecutive days during 2011 or before April 15 2012. Married couples filing jointly need to have only one spouse that meets the qualifications. Individuals who are self-employed need to be able to show at least a 25 percent drop in their net income.

How long does Optima tax relief take?

How long does it take? Optima says that most of its clients can complete the process in 4 to 10 months. Consultation and investigation typically take 2 to 4 weeks, and following the resolution plan usually takes 3 to 9 months.

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Do tax relief companies really work?

Yes, there are legitimate tax relief companies that can help you reduce your tax debt or get on an affordable payment plan. However, there are many scam companies as well. Do some research before choosing a tax debt relief company to represent you.

What is the Fresh Start program with the IRS?

The IRS Fresh Start Program is an umbrella term for the debt relief options offered by the IRS. The program is designed to make it easier for taxpayers to get out from under tax debt and penalties legally. Some options may reduce or freeze the debt you’re carrying.

How much money do I still owe the IRS?

You can access your federal tax account through a secure login at IRS.gov/account. Once in your account, you can view the amount you owe along with details of your balance, view 18 months of payment history, access Get Transcript, and view key information from your current year tax return.

Can I settle with the IRS myself?

Yes – If Your Circumstances Fit. The IRS does have the authority to write off all or some of your tax debt and settle with you for less than you owe. This is called an offer in compromise, or OIC.

How do I settle myself with the IRS?

You have two options to file an Offer in Compromise. You can work with a tax debt resolution service or you can try to file on your own. If you want to settle tax debt yourself, simply download the IRS Form 656 Booklet. In includes Form 656 and Form 433-A form that you need to fill out for your financial disclosure.

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Can the IRS put me in jail?

In fact, the IRS cannot send you to jail, or file criminal charges against you, for failing to pay your taxes. This is not a criminal act and will never put you in jail. Instead, it is a notice that you must pay back your unpaid taxes and amend your return.

Can I get my money back from Optima tax relief?

Yes. Optima Tax advertises a 15-day money-back satisfaction guarantee. This guarantee means you can cancel without any fees or penalties should you be dissatisfied with services within the first 15-days of working with the company.

Are tax relief programs worth it?

Generally speaking, tax debts under $10,000 aren’t worth paying a tax relief company to settle; you can usually settle them yourself without much issue. However, some people still may wish to have some professional assistance if they’re struggling to resolve a small tax debt.

Can IRS debt be reduced?

Apply With the New Form 656 An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.

Does the IRS ever forgive back taxes?

Under certain circumstances, the IRS will forgive tax debt after 10 years. But that 10 year period may be longer than you expect, given lengthy suspensions, the IRS’s date of tax assessment versus your last return, and whether or not you have been keeping up to date with your tax returns since the debt period began.

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How do you qualify for IRS forgiveness?

True tax forgiveness comes in the form of credits against the back taxes. These credits can reduce some or all of your tax liability. To qualify, you must make certain the IRS takes into account your taxable and non-taxable income, as well as your family size and specific financial situation.

How long will IRS give you to pay?

With a streamlined plan, you have 72 months to pay. A minimum payment does kick in, equal to your balance due divided by the 72-month maximum period.

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