If you’re worried about business taxes or have a complex personal tax situation, Larson Tax Relief services could be helpful. Larson offers tax relief programs and professional tax services to address various business and income tax issues. They promise to personally guide you through each step of the process and ensure your satisfaction with their services.
Best for Business Tax Debt Relief
Tax preparation can get pretty confusing. Many folks out there have a handful of questions and want to figure out stuff like how to file back taxes, what’s needed for tax filing, or how to file taxes without spending a dime. And for business owners, these answers can be even trickier.
That’s where Larson comes in. They’re one of the top tax relief companies for businesses, and they’ve got the know-how to answer your tax questions with confidence. Larson’s built a solid reputation as a trustworthy tax relief expert, especially when it comes to business taxes and tangled-up situations. So, if you’re a business owner wrestling with debt, Larson Tax Relief could be just the ticket.
Larson Tax Relief Pros and Cons
PROS
- Great with tricky tax situations
- No upfront fee
- 15-day money-back guarantee
CONS
- Requires a minimum debt of $25,000
- Lacks upfront pricing
- Online resources are limited
Pros Explained
Experienced With Complex Business Tax Situations
The tax professionals at Larson Tax Relief are experts in handling intricate tax scenarios for business owners. The company offers services from two types of tax professionals:
- Enrolled agents: These are IRS-certified professionals with a minimum of 5 years of experience specializing in various areas such as appeals, settlements, or tax law. Enrolled agents are authorized to represent any taxpayer and can negotiate with the IRS on your behalf.
- Tax attorneys: These professionals are licensed by the state and have legal expertise. If your business tax issues involve legal consequences, a tax attorney can provide representation in court and offer legal advice to address your financial challenges.
Both enrolled agents and tax attorneys at Larson Tax Relief possess extensive experience dealing with a wide range of complex cases. As per Larson’s website, 80% of their work involves intricate business tax matters.
15-Day Money-Back Guarantee
Larson provides a 15-day money-back guarantee for new customers who aren’t satisfied with the services they receive. This guarantee kicks in from the day of your initial payment. If you find that the Larson Tax Relief team isn’t responsive or meeting your expectations within those 15 days, you can cancel your service, and the company will issue a full refund.
Doesn’t Charge a Retainer Fee
Larson Tax Relief won’t ask you for a retainer fee when you use their tax relief services. That means you don’t have to pay anything upfront to start working with them. Unlike some other tax relief firms that require a retainer fee upfront, which is then used for hourly payments with potential extra charges down the line, Larson opts for a straightforward approach. You’ll simply pay a flat fee for each case.
Cons Explained
The High Minimum Debt Requirement
Larson Tax Relief doesn’t handle cases with debts below $25,000 for now. If your debt falls below that, they recommend working directly with the IRS to set up payment arrangements. You can do this by filling out the IRS’s online application for payment plans.
Limited Resources Online
While some tax relief companies provide free cost estimates online, Larson Tax Relief has limited online resources available. This means you’ll need to give them a call and speak to a representative to get details about their services. Additionally, there’s no customer portal for paying fees or contacting customer service online.
No Upfront Pricing
Larson customers usually pay an average of about $2,400 in total, depending on the services they need. However, since every case is unique, Larson doesn’t provide exact pricing without a consultation. While this is common in the tax relief industry, it can make it challenging for consumers to compare companies. It’s a good idea to utilize free consultations to collect quotes from several tax relief agencies and assess which strategies they offer for your specific situation.
Larson Tax Relief Offerings
Larson provides a range of tax relief services to support businesses and individuals struggling with debt. Along with the services listed below, Larson also highlights its assistance with bankruptcy and tax return preparation.
Business Tax Relief
Business taxes are a specialty at Larson Tax Relief. In addition to consulting and advocacy, Larson offers various business tax relief options, including
Offer In Compromise (OIC): You or your agent can negotiate a partial payment due to financial hardship or the threat of hardship and get the rest of your debt forgiven.
Installment Agreements: These agreements allow you to pay the tax debt either in full or over the life of the statute of limitations.
Tax Liens: Larson works to prevent tax liens from being filed on your business or to remove certain filed tax liens.
Corporate Formation or Shutdown: You can receive assistance in starting a new corporation or shutting down an established one to avoid any tax liabilities and maximize tax benefits.
Levy Reversals: Larson Tax Relief can negotiate with the IRS to halt and reverse levies on your business’s bank accounts.
IRS Tax Relief
Larson Tax Relief provides IRS tax relief services tailored for individuals and businesses. They can handle your tax returns and offer audit representation and assistance, as well as research and management of your case with the IRS. Alongside services like corporate formations or shutdowns, offers in compromise, and installment agreements, here are some tax relief options you might encounter:
Currently Not Collectible: This tax status, determined by the IRS, provides temporary relief from your tax debt during times of hardship.
Partial Pay Installment Agreement: This agreement serves as a middle ground between an installment agreement and an offer in compromise, allowing you to make partial payments in multiple installments.
The minimum monthly payment for long-term installments for federal and state taxes varies depending on factors like state regulations and individual or business circumstances. You can estimate your likely monthly payment by dividing your total balance by 72 months, the typical length of a long-term installment plan.
Signing up for a Direct Debit Installment Agreement (DDIA) can waive payment plan fees. With DDIA, your payment plan installments are deducted directly from your checking account.
IRS Tax Relief
Larson’s income tax relief service revolves around grasping your unique situation, conducting thorough research, and representing your interests with the IRS or state authorities. Their income tax relief services aim to resolve issues such as unfiled tax returns, wage garnishments, or bank levies.
The company will stand up for you to explore avenues to alleviate your debt, which could involve negotiating an installment agreement, pursuing an Offer in Compromise (OIC), arranging a partial pay installment agreement, or finding any other suitable solution.
State Tax Relief
Larson Tax Relief also lends a hand with state taxes. Dealing with state tax collections can be more intense than handling IRS tax matters. If a business owner falls behind on their state taxes, they might encounter levies and other repercussions sooner than with the IRS. Larson can support business owners with state-specific challenges, such as unfiled state taxes, liquor licenses and taxes, workers’ compensation, and franchise taxes.
Emergency Bank Levies Help
If you’re facing a bank levy or salary garnishment, you need quick assistance. Bank levies, which involve seizing funds from your business accounts, can disrupt your payroll, retirement accounts, life insurance, and more. Larson will swiftly assess the situation, suggest a solution, and liaise with the IRS and any other tax entities involved.
Larson Tax Relief Pricing
The exact cost of Larson Tax Relief’s services can be a bit uncertain because it varies depending on individual circumstances, and they don’t have a standard price list available. Although customer feedback indicates that the average cost for their services is around $2,400, representatives couldn’t provide more detailed information about fees or costs without specific case details. Larson does offer flexible payment options instead of requiring a lump sum upfront.
Larson Tax Relief Financial Stability
Since there isn’t a standard financial stability rating for tax relief or tax agent services, Larson isn’t rated by the leading financial rating agencies. However, based on their annual revenue of approximately $4.5 million, Larson appears to have strong financial stability. With over 18,000 satisfied customers, 15 Enrolled Agents on staff, and 18 years of experience, Larson Tax Relief has built a solid reputation. Additionally, the company has received awards from the Better Business Bureau (BBB) for its ethical practices and high-quality business standards.
Larson Tax Relief Accessibility
If Larson Tax Relief sounds like a good fit for you, you’re in luck because its services are available nationwide.
Availability
Larson Tax Relief is available to residents of all states in the U.S. However, it only offers services to businesses or individuals who owe at least $25,000 in tax debt. If you’re not sure how much you owe, Larson can assist you in determining the exact amount before they agree to work with you.
User Experience
Customers of Larson Tax Relief generally appear satisfied with their experience. The Larson website is well-organized and easy to navigate. Larson has earned an “Excellent” score on Trustpilot, with a rating of 4.8 out of 5 stars. Only 6% of the 305 customer reviews give the company less than five stars.
Larson Tax Relief Customer Satisfaction
In the past three years, Larson Tax Relief has resolved a total of three customer complaints on the Better Business Bureau (BBB) website. They currently maintain an A+ BBB rating and have been accredited by the bureau since 2006. The customer review ratings for the firm on both the BBB website and Trustpilot are above four on a 1-5 scale.
Larson Tax Relief FAQ
Is Larson Tax Relief a Reputable Business?
Larson Tax Relief is a family-owned and operated business with over 16 years of experience. Their team consists of Enrolled Agents (EA) who are members of the National Association of Enrolled Agents (NAEA).
In 2022, Larson clinched the Better Business Bureau Torch Award for Ethics, recognized by geographical region and business class. They secured this accolade for the “Great West + Pacific” region in the “Medium-sized business” category. Additionally, Larson bagged the BBB’s Customer Service Award in 2014.
Given its impressive track record with the Better Business Bureau and the scarcity of negative reviews about the firm, Larson Tax Relief appears trustworthy. However, it’s important to note that tax relief services can be pricey. You’ll need to weigh your potential tax savings against the sometimes substantial cost of tax relief. Getting quotes from various companies and comparing the approaches they recommend can aid you in making an informed decision.
How Do Larson Tax Relief’s Services Work?
The team at Larson Tax Relief will start by having a conversation with you to understand your situation better. Once they’ve assessed your case, they’ll dive into their investigation. They’ll work closely with you to gather all the necessary information and documents. Then, they’ll lay out your options and advocate on your behalf with the IRS. Larson pledges to stick with you throughout the process until your tax issues are resolved.
In some cases, resolving tax debt can be a lengthy process involving extensive negotiation or communication between Larson and the IRS. During this time, Larson assures you’ll be kept informed about the progress of your case every step of the way.
Is Larson Tax Relief worth it?
Larson Tax Relief caters well to small to medium businesses and individuals grappling with at least $25,000 in tax debt. They provide a blend of expertise from IRS Enrolled Agents, CPAs, and tax attorneys to tackle your tax issues. While their minimum debt requirement might seem steep for personal tax liabilities, it’s relatively low for business debts. So, whether it’s worthwhile depends on the amount you’ll save through tax relief.
Consider this scenario: If you shell out $2,400 to slash your tax debt by $2,000, you’re not gaining anything — it’d be more beneficial to put that money directly toward your debt. However, there are instances, albeit uncommon, where customers have shared uplifting “pennies on the dollar” tales where Larson drastically reduced high-volume debts to a fraction of the original sum.
How We Evaluated Larson Tax Relief
When assessing Larson Tax Relief, we stacked it up against other tax relief firms, weighing several key factors. We took into account significant aspects of tax relief services such as
- The range of services provided
- Ratings and reviews from independent sources
- Customer feedback and satisfaction levels
- Any upfront fees demanded
- Available discounts and refund policies
- Overall financial stability
Summary of Money’s Larson Tax Relief Review
When it comes to sorting out tax relief, going solo with top-notch tax software might handle your business taxes, but for effective tax relief, teaming up with a professional is the way to go.
Larson Tax Relief steps in, offering solutions for those grappling with tax debts exceeding $25,000.
With a complimentary consultation and a 15-day satisfaction guarantee, they dive into debt relief strategies like offers in compromise, installment agreements, partial payment plans, and more.
Covering both state and federal tax woes nationwide, Larson Tax Relief may lack extensive online resources, and pricing might not be crystal clear upfront. Nonetheless, it’s a reputable tax relief outfit boasting strong customer endorsements. Their expertise shines brightest for business owners facing hefty tax debts and intricate financial scenarios.