Resolving a Tax Problem? Initials Matter

Handling taxes is a bit like going to the doctor; no matter what the issue, you want to get it over with as quickly as possible. And just as sure as you would expect a couple of initials to fall after the name of your chosen physician, you should expect no less from a tax professional. But, what initials should you be looking for, exactly?

Much like choosing a healthcare specialist, your search for a tax professional will depend on what type of problem you're experiencing. For instance, you might simply need a little help with filing your return. Or, perhaps, you have a more troublesome tax ailment. No matter what your circumstances, understanding certain tax pro credentials can help you to treat your issue with accuracy and expedience.

LTP's

Within the scope of the tax service world, LTP's cover a wide spectrum of individuals. An LTP, or licensed tax professional, is the designation for a person who assists individuals and businesses with tax questions, filing and, if necessary, resolution. There are many times when you might need to call upon the services of an LTP, and you'll often find them employed with tax resolution companies. You may think of an LTP as a general practitioner; since you may need specialized assistance, there are other sets of initials that matter, in terms of relevance to your situation.

CPA's

Depending on the complexity of your tax return, you may benefit from a little professional guidance. If this is the case, you might just want to track down a CPA, or certified public accountant. A CPA can not only file your return, he or she can seek out every deduction or credit you qualify for to maximize your savings. If you had a windfall during the tax year in question, or possibly got a big raise at work, you'll want to take every break you can to mitigate your liability. Similarly, if you've recently started your own business, enlisting a CPA can be critical to sustaining your long-term financial well-being. In a nutshell, CPA's are adept in helping you accurately prepare your taxes and prevent a problem down the road.

EA's

In the event that you find yourself with several years of back taxes to file, or perhaps a tax debt, you'll want to locate a seasoned EA, or enrolled agent. An EA can represent you before the IRS, to ensure your tax issue is resolved and does not lead to aggressive action against you. You may, for instance, require a payment agreement in order to satisfy a tax debt over several years. An EA will review the circumstances of your liability, as well as your financial capability, and then obtain the lowest IRS payment allowable by law. Additionally, such a professional can assist with getting costly penalties adjusted or removed, and can provide you with valuable insight on how to prevent future tax trouble.

Urgent Care

While you might just need help with your tax prep, any problem you face which involves IRS notices should be handled immediately. You can consult with a tax resolution company, where your issue will be evaluated and assigned to the appropriate specialist. The sooner you get your tax problem addressed, the more you'll save on both money and stress. Finding the right tax professional to do just that can be simple, affordable and relatively painless.

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