Precision Tax Relief Review: Is it Legit or a Scam?

Precision Tax Relief is a company that specializes in helping people resolve their tax debts with the IRS.

The company has a track record of successfully settling over $58 million in tax debt and has a 94% success rate with offers in compromise petitions.

It’s no secret that the industry has a bit of a bad reputation when it comes to overpromising and underdelivering results. So this article is going to take a deep dive into Precision Tax’s services and client reviews to see what they’re really all about.

After doing some research on the company, here are some highlights:

Precision Tax is a tax relief company that provides services such as:

• Offer in Compromise
• Currently Not Collectible
• Wage Garnishment / Levy Services
• Payroll Tax Debt Resolution

They also provide tax preparation (including filing past-due returns) and bookkeeping services.

Precision Tax Relief Pros and Cons

Pros

• No Initial Fee: Precision Tax Relief offers a free consultation to discuss your tax debt and options for resolving it.
• Client Service During Process: Precision Tax Relief was praised by reviewers for their communication and responsiveness throughout the process, as well as their due diligence in investigating the merits of each case.
• Flat-Fee Arrangements: The company’s website and client reviews suggest that it charges a flat-fee upfront, and appears to honor these quoted fees according to customer feedback.

Cons

• Unclear Refund Policy: They advertise a 30-day money-back and service guarantee, but don’t provide any detail on the guarantees.
• Limited State Tax Debt Help: Only those with an IRS tax debt will have their state tax liability resolved by this company.

How does PrecisionTax.com Resolution work?

PrecisionTax.com has a three-step process for resolving tax debts:

Step 1: Free assessment

In order to take advantage of Precision Tax’s offerings, you must first request a complimentary assessment via the company website.

A senior tax professional from the company will reach out to you to discuss your tax situation. 

As tax relief companies enter this phase, it is an opportunity for a “senior tax professional” to sell their services. This term refers to a salesperson who can offer you assistance and guidance with your taxes.

Precision Tax Relief is a different kind of firm that claims to not use high-pressure scare tactics in their sales methods. They lay out what will happen at different stages of the process

The company promises that a tax professional will contact you to discuss your situation and provide a plan for resolving your tax debts. They also claim that this service will be provided at no cost.

They pride themselves on being truthful with their clients. They said they will work with you to get the best possible outcome given your tax situation. 

Step 2: Relief

Signing up for Precision’s services supposedly promises immediate relief from the IRS so you can have protection while they work on your case.

It is suspected that when the company says they are “taking action to suspend IRS bank levies and/or wage garnishment,” they are actually placing its clients into a “Currently Not Collectible” status. This would mean that any money owed to clients would not be able to be collected by banks or through wage garnishment.

If this is true, Precision’s approach of discouraging people from receiving IRS notices threatening to levy their bank accounts or garnish their wages while they’re waiting to resolve their case with the IRS could be a good one.

They focus on the early days of an engagement, which are critical for setting the tone and establishing trust. During this time, clients need to feel comfortable communicating openly about their tax debt without the stress of bank levies and wage garnishments hanging over their heads.

After resolving a client’s immediate tax issues, the next step is the Tax Debt Resolution phase. This phase involves creating a plan to pay off the client’s tax debt

Step 3: Tax debt resolution

After you’ve been assigned a tax resolution team, they will be the ones representing you against the IRS (and/or state agency).

• Precision Tax Relief was able to help these clients substantially reduce their tax debts with the IRS, according to the reviews.
• In one review, however, one former client complained that Precision Tax Relief was not able to reduce the tax debts at all despite paying the company thousands in fees.
• On Trustpilot, they do have some negative reviews, these are less than 1% of all the reviews on the site. The overwhelming majority of reviews are favorable towards the company, representing 99% of all reviews.

This approach suggests Precision Tax Relief is not all about getting clients to sign up for services and pay fees, but rather performing an honest evaluation of their case.

This is mere speculation, based on the review of the website and numerous client reviews.

Several reviewers also commented on Precision’s client service.

At one point, a client said that “you don’t have to call them back asking how my case is going.” The reason being is that they will constantly send emails and phone calls to update you or request needed information from you.

According to this review, and if it is true, they are doing their job at meeting the needs of their customers.

What are the requirements?

To request an assessment, you have to visit the website and fill out a short form. They work with clients who have a minimum tax debt of $10,000. This is standard among tax relief firms

To receive Precision’s services, no other explicit qualification is required. Although some client reviews mention the company declined to take them as a client, this is usually based on the evaluation of the merits of their case.

How much does Precision Tax Relief charge?

There is no information on pricing available on the company website, but other sources reveal the following fees:

Initial Fee

They do not charge an initial fee to evaluate your tax situation and options to resolve your debt.

Resolution Fee

Precision’s resolution fees are not well documented, but some outside sources show an average of $2,000. Not much is known about how Precision Tax Relief sets these fees.

The company advertises to charge a flat fee upfront, with no other hidden charges or add-ons. 

However, additional charges may apply depending on the scope of your engagement and what is discussed during the consultation phase.

How much money can I save?

How much you can save with careful tax planning depends on your individual circumstances.

According to customer reviews, they have been successful in doing this for many of their clients. Some people have said that the company did not help them at all, but these negative reviews are outnumbered by the positive ones.

As mentioned above, Precision’s success may be in part to its willingness to evaluate cases on their merits during the consultation stage and decline cases that it does not believe have a good chance of success.

Is Precision Tax a Scam?

Overall, Precision Tax appears to be a legitimate business offering quality services at competitive prices. They have built up a solid reputation over the years and are well-known in the industry for their expertise in resolving IRS issues. If you need help with your taxes or other financial matters, Precision Tax may be worth considering as an option.

Precision Tax Relief BBB Rating

Overall, reviewers seem happy with this company based on their ratings on Trustpilot and the BBB.

Most of the reviews of this company said that they do a good evaluation of their case, client service, and ability to reduce their tax debts meaningfully.

Here are some Precision Tax Relief reviews:

Sherry Jun 6, 2022

Claudia Nov 17, 2022

Guarantee Disclaimer

Precision Tax Relief advertises a 30-day money-back and service guarantee on all of its products. The company does not offer any additional detail on the guarantees. There are no client reviews discussing the guarantees.

Final thoughts

Precision Tax Relief is a company that will assist you with your tax debts or provides an explanation as to why it cannot help you. The research indicates that precisiontax.com is trustworthy and intent on helping its clients.

Frequently Asked Questions

How much are Precision Tax Relief’s services?

They do not charge an initial fee, but their average resolution fee is $2,000. You can find more information about their fees on third-party websites.

Are tax debt relief companies legitimate? 

There are many tax relief companies that claim to help people with their tax debt issues, but many of them have a reputation for being misleading and overcharging their clients. It is important to do your research before you retain one of these companies in order to ensure that you are getting the best possible service.

How do you get a tax forgiven? 

Even though it’s possible to get the IRS to forgive your taxes by filing an offer in compromise, whether or not they’ll accept your offer will depend on your particular tax situation.

Will Precision Tax Hurt My Credit?

Will Precision Tax hurt my credit? The short answer is no. Precision Tax does not report to any major credit bureaus, so using their services will not affect your credit score. They take care to ensure that all their clients’ information remains confidential and secure.

Precision Tax offers various services designed to help people with their tax problems. Whether you need help filing back taxes or resolving an IRS debt, they can provide the assistance you need without hurting your credit score. Their team of experienced professionals has nearly 60 years of combined tax resolution experience and can work with you to find the best solution for your situation.

How much do tax resolution companies usually charge? 

Tax resolution companies offer a wide range of services, from simple cases like removing a tax lien to complex ones like an offer in compromise. Prices vary depending on both the company and your individual situation, but as a general rule, you can expect to pay anywhere from $2,000 to $7,000. In some circumstances, fees may be even higher.