Should you represent yourself or pay a Tax Professional to handle your issue?
We previously addressed this question in our popular section: Seven Reasons for Hiring a Tax Pro. But as the marketplace for tax resolution and tax representation changes rapidly, we thought we would take a new stab at this question for 2015:
1. Tax problem handled quickly and efficiently -- If you don't like the higher than ever hold times at the IRS and want a faster resolution of your tax problem, hire a Tax Professional!
2. Owe a sizable amount of money to the IRS or State - If you owe a lot - the margin for failure is higher and if you choose the wrong resolution of your tax problem you will cost yourself $$$ - making hiring a Tax Professional very important.
3. Choosing the "right" resolution of your tax problem - With the Offer in Compromise (OIC) procedure "freezing" your statute of limitations clock for your taxes expiring, you don't want to file an OIC unless you know there's a good chance of it winning. Another important reason for hiring a Tax Professional.
4. Peace of mind - Knowing that a highly efficient and knowledgeable team is handling your tax matter so you can live your life is worth it for some. Peace of mind - a final reason for having a Tax Professional handle your tax matter.