Getting Ready For Tax Season

4 Tips for Finding a Quality Tax Resolution Service

If you're experiencing challenges with personal or business taxes, a tax accountant can help you resolve these issues in a timely manner. Tax complications occur more often than you might think, as many Australians struggle with backdated taxes, unfiled returns or money owed to the Australian Taxation Office (ATO).

There are numerous consequences of failing to file your taxes on time. The ATO may impose fines on any amount owed, and they may even seize or freeze your assets. This is why seeking the help of a tax resolution service is important. These companies have trained and experienced tax accountants who can help you resolve your tax issues and avoid incurring further penalties.

But how can you find the best professionals to help you settle outstanding tax bills? Here are four qualities to consider.   

1. Personal qualifications

When dealing with the ATO, you should confirm that the professionals by your side are qualified enough to get the job done. Make sure your tax resolution service has qualified and full-time tax accountants who understand the tax code.

Many tax companies are operated by lawyers or CPAs who then double up as tax professionals. A better approach is to look for a full-time tax expert who will dedicate all their knowledge and resources to help you settle an outstanding tax bill.

2. Knowledge of the ATO's tax code

You should also look for a tax resolution service that understands the ins and outs of Australian tax law. When it comes to resolving tax issues, there are multiple avenues available to help ease the burden on taxpayers. For example, you may be eligible for extended repayment plans, a one-time forgiveness of accrued penalties or even a settlement option for less than the original amount owed.

You may not be aware of these options because of how complicated tax laws in the country are, so this is where tax accountants step in. By working with a company that understands the law in and out, you may be able to resolve your debt and avoid multiple consequences.  

3. Experience in the field

When it comes to resolving tax complications, experience plays an important factor. You should have a preference for tax accountants who've been practicing for several years in the field because they're more likely to have handled situations such as yours in the past. Furthermore, they'll be able to resolve your personal or business tax challenges in the most convenient manner.

4. Previous customer recommendations

Finally, don't forget to request for references from previous customers. A track record of satisfied customers will give you confidence that your tax issues will be effectively resolved.