Precision Tax Relief Review 2022: A Tax Attorney’s TakeTax Relief
- Precision Tax Relief
- Basics: Founded in 1967, Precision Tax Relief primarily helps individuals with their tax debts with the IRS.
- Pros: Unlike many tax relief companies, Precision does not charge an initial fee and operates under a flat-fee arrangement. In addition, Precision has been praised for its client service.
- Cons: The company does not have a clear refund policy, and its representation with state tax debt is limited.
- MINIMUM DEBT:
- LOCATION AVAILABILITY:
All 50 U.S. States
- INITIAL FEE:
- YEAR fOUNDED:
Precision Tax Relief primarily helps individuals resolve their tax debts with the IRS.
The company has boasted of settling over $58 million in tax debt and having a 94% success rate with offer in compromise petitions with the IRS.
When I hear claims like this, I tend to be skeptical, given the industry’s bad reputation of overpromising clients and delivering results that are well short of their promises.
So I decided to put my tax attorney hat on and do a deep dive into Precision’s services and client reviews.
Below are my thoughts and research on the company.
WATCH the video below to learn how to qualify for an offer in compromise to settle your IRS tax debt!
Precision Tax Relief At a Glance
|Services||Tax resolution services, Tax preparation services, Bookkeeping|
|Fees||Average fee of $2,000 (based on third-party sites)|
|Minimum Debt Required||$10,000|
|Turn Around Time||Varies|
|Refund Policy||30-day money back and service guarantee|
|Dedicated Case Manager||Yes|
|Speed of Service||Not available (Client reviews show the company is responsive and diligent in providing updates)|
|Location Availability||All 50 U.S. States|
|Phone Number||(855) 212 - 5900|
Precision offers similar services as other tax relief companies, including:
- Offer in Compromise
- Currently Not Collectible
- Wage Garnishment / Levy Services
- Payroll Tax Debt Resolution
Precision also provides tax preparation (including filing past due returns) and bookkeeping services.
- BBB Accredited: A+ Rating With 5/5 Rating
- Guarantee: 30-Day Moneyback Guarantee
- Reasonable Fees: Lower than Industry Averages
How Does Precision Tax Relief Resolution Work?
Precision lays out a three-step for resolving your tax debts on its website:
Step 1: Free assessment
To sign up for Precision’s services, you must request a free assessment on the company website.
The company advertises that a senior tax professional will contact you to review your tax situation.
For other tax relief companies, this phase is really an opportunity for a “senior tax professional” — a fancy term for a salesperson — to sell you their services.
Precision, however, claims it does not engage in “high pressure scare tactics” and lays out what will happen at this stage, which I have not seen at other firms.
After the phone call, the company claims a tax professional will reach out to review your situation, present a clear plan for resolving your tax debts, and provide a flat-free quote.
On its website, the company seeks to differentiate from its competitors by claiming that “our experts don’t shy away from the truth” and will “tell you exactly what’s possible given your tax situation.”
This honesty is my primary concern with large tax relief companies: Their salespeople — in an effort to close the deal — sometimes appear to overstate what’s possible for a lead in terms of tax resolution, resulting in a dissatisfied customer who is now out thousands of dollars in service fees.
It appears that Precision understands this and, based on their self-description here, wants to assure potential clients that they are completely straight-up in their over-the-phone assessment of a lead’s realistic tax resolution options.
Of course, what a tax relief company advertises on its website often does not reflect what the company does in practice.
So I decided to check the client reviews of the company to see whether they back up Precision’s claims.
To my surprise, the client reviews largely reflect Precision’s claims on its website.
For example, several reviewers favorably commented on how Precision provided helpful advice on their tax situation even after declining to take their case:
The review, if true, suggests that Precision is not entirely focused on the sales pitch during the consultation phase, but also makes a concerted effort to evaluate the merits of your case on the front end.
Step 2: Immediate Relief
If you do sign up for Precision’s services, the company promises to provide immediate relief so that you can “enjoy protection from the IRS while we work on your case.”
The company does not detail what this means, but I suspect it involves taking action to suspend IRS bank levies and/or wage garnishment (i.e., placing clients in Currently Not Collectible status).
If this is true, Precision’s approach is a good one; it’s certainly discouraging to receive IRS notices threatening to levy your bank accounts or garnishing your wages while you’re waiting to resolve your case with the IRS.
Precision’s focus in the early days of the engagement gives clients the necessary breathing room, so that they can work with the company to resolve their tax debts without the stress of bank levies and wage garnishments hanging over their head.
Once Precision has addressed a client’s immediate tax issues, the next step is the Tax Debt Resolution phase.
Step 3: Tax Debt Resolution
In this phase, a tax resolution team will be assigned to represent you against the IRS (and/or state agency).
The company specifically advertises a 94% success rate on its offer in compromise petitions — a claim backed by several favorable reviews on trustworthy sites such as Trustpilot and BBB.
Based on the reviews, Precision was able to substantially reduce these clients’ tax debts with the IRS.
In one review, however, one former client complained that Precision was not able to reduce her tax debts at all despite paying the company thousands in fees.
That said, on the Trustpilot site, the negative reviews represented less than 1% of all reviews on the site and were eclipsed by the remaining 99% of reviews that were favorable towards the company.
I suspect Precision’s success rate is partially due to the company’s apparent willingness to decline cases based on merit (or lack thereof).
This approach suggests Precision is not entirely focused on getting clients to sign up for services (and pay the company’s fees) but strives to perform an honest evaluation of their case.
Of course, I have never used Precision’s services, so this is mere speculation, based on my review of the website and numerous client reviews.
Several reviewers also commented on Precision’s client service.
For example, in one review, one former client claimed that “[y]ou don’t have to call them back asking how your case is going because they continually send you emails and phone calls keeping you updated or requesting information needed from you.”
This level of client service is not a common experience at other tax relief firms, which are often criticized for leaving their clients in the dark once they pay the fee.
This review, if true, signals that Precision is in the industry for the right reasons — that is, to help individuals who are going through a stressful time in their lives.
Precision Tax Relief Resolution Requirements
If you are interested in retaining Precision, you must first request a free assessment on the company’s website.
The minimum tax debt for Precision to work with you is $10,000, which is standard among tax relief firms.
There is no other explicit requirement to qualify for Precision’s services.
That said, based on several client reviews, the company may decline to take you as a client based on its evaluation of the merits of your case.
Precision Tax Relief Cost
Precision does not list its fees on the company website, but other sites show the following:
|Resolution Fee||Average is $2000, although fees can vary depending on tax situation|
Unlike other tax relief firms, Precision does not charge an initial fee to evaluate your tax situation and options to resolve your debt.
There is limited information on Precision’s resolution fees, although a few third-party sites show an average resolution fee of $2,000.
The company advertises that it will charge an upfront flat fee without any other hidden charges or add-ons.
Of course, Precision does have a disclaimer that additional charges may apply if the scope of your engagement should expand from the services discussed during the consultation phase.
This is no different than other tax relief firms — fees can and should increase if the case turns out to be more complex than originally thought.
Nonetheless, some reviews indicate that Precision largely sticks with the upfront quoted fees during the assessment stage.
For instance, one former client claimed that Precision was able to substantially reduce her debt while honoring its flat-free arrangement:
Of course, I have no insight into Precision’s billing practices, so this is based solely on client reviews.
But if these reviews are true, Precision’s flat-fee arrangement gives clients already struggling with their finances some level of comfort that they won’t be overcharged.
How Much Could You Save with Precision Tax Relief Resolution?
The amount of money you can save depends on your specific tax situation.
Based on several customer reviews, Precision was able to substantially reduce IRS tax debts on behalf of their clients. Some former clients claimed that the company failed to do anything for their case, but these reviews are few and far between when compared to the larger pool of favorable reviews.
As mentioned above, Precision’s relative success may be due to the company’s evaluation of a case’s merits during the consultation stage and its willingness to decline cases.
Precision Tax Relief Pros and Cons
- No Initial Fee: Precision does not charge you an initial fee for evaluating your case and options for resolving your tax debts. Other tax relief firms typically charge hundreds of dollars for this service.
- Client Service During Process: Several reviewers commented that Precision frequently provided updates on their cases, were responsive, and provided due diligence on the merits of your case on the front end of the process.
- Flat-Fee Arrangements: Based on its website and client reviews, the company quotes a flat-fee upfront and, based on client reviews, appears to honor these quoted fees.
- Unclear Refund Policy: Precision advertises a 30-day money back and service guarantee, but does not provide any detail on the guarantees.
- Limited State Tax Debt Help: The company will only help resolve your state tax liability if you have an IRS tax debt as well.
Is Precision Tax Relief Legit?
The reviews of the company on Trustpilot and BBB are largely positive.
Most of these reviewers commented on Precision’s honest evaluation of their case, client service, and ability to meaningfully reduce their tax debts.
Precision Tax Relief Complaints and Customer Reviews
|J.S. Dunn March 1, 2022 Trustpilot||J.S. engaged Precision to help with her IRS debt, which had climbed to several thousands of dollars. |
She commented that “Hannah,” the tax specialist on her case, was knowledgeable about the IRS resolution procedures and managed her expectations throughout the process with kindness and professionalism.
More importantly, she claimed that Hannah “empathiz[ed] with my personal situation” and “made me feel like I wasn’t alone and that my situation was manageable.”
Ultimately, the client was pleased that Hannah helped her cut her IRS debt in half.
|J.S.'s review, if true, shows that the company is genuinely invested in resolving their clients’ debts. |
We often forget that having an IRS debt is not only a stressful financial situation, but can also take an emotional toll as well.
That is why having a representative like Hannah is so important – their ability to empathize can give clients the extra push to resolve their tax debts.
Equally important is managing expectations throughout the process, like Hannah has done here. Setting expectations on the ability to reduce your debt gives the client a realistic picture on what can be achieved.
|Antonio Cafiero 02/17/2022 Trustpilot||Antonio reached out to Precision about his tax situation, but was ultimately declined by the company. |
He claimed that the company evaluated his case in a detailed and professional manner. According to Antonio, upon review, the company representatives determined that they could not help him in any meaningful way. During the whole process, Antonio claimed that the company never asked for money, provided basic advice, and helped him to move on.
|Assuming Antonio’s review is true, Precision’s honest evaluation of your case is a refreshing change from the aggressive sales pitches other tax relief companies make during the consultation phase. |
In many cases, there is nothing the tax relief company can do. Precision’s due diligence on the front end of the process ensures clients are not misled on what type of outcome to expect in the later stages.
|James B. 02/22/2022||James reached out to Precision to help with his $83,000 tax debt resulting from several years of unfiled tax returns. |
According to James, Precision immediately stopped the bank levy to give the company the space to tackle his tax debts. James claimed that representatives from the company always informed him if there was a change to his case and kept in touch when there were delays at the IRS.
Ultimately, the company was able to completely wipe our James’ $83,000 tax debt with the IRS.
|James’ account, if true, highlights the company’s relative success at reducing its clients’ tax debts. As discussed above, this success may stem from the company’s due diligence on the front end – which gives them a general idea of how cases will ultimately be resolved. |
Additionally, Precision’s action to stop the bank levy is an equally strategic move and consistent with the three step process the company advertises on its website. This gives the company breathing and some peace of mind to the client while it goes about resolving the tax debts with the IRS.
Precision advertises a 30 day money-back and service guarantee on its website.
However, beyond this, the company does not offer any additional detail on the guarantees.
In addition, I found no client reviews discussing the guarantees.
Alternatives to Precision Tax Relief
Below is a comparison of Precision Tax Relief and other established tax relief companies:
|Precision Tax Relief||Anthem Tax Services||Optima Tax Relief||Jackson Hewitt Tax Resolution Services|
|Minimum Debt Required|
|Turn Around Time|
|Dedicated Case Manager|
|Speed of Service|
|Optima Tax Relief Phone Number|
Is Precision Tax Relief Worth It?
In my opinion, Precision Tax Relief is worth the money.
The company gets high marks from several reviewers on the company’s frequent updates on their case and general responsiveness.
Based on a number of reviews, Precision was also able to substantially reduce their clients’ tax debts with the IRS, which I suspect is due to the company’s due diligence on the front end and willingness to decline cases.
Who Precision Tax Relief is Best For
Precision is best for clients with complex cases (e.g., offer in compromise) who prefer frequent contact and updates from their tax relief company.
Who Precision Tax Relief Is Not For
Precision is not for individuals with relatively simple tax debt issues that can be easily resolved without the company’s assistance.
Based on my research, Precision is a well-intentioned firm that will help you with your tax debts (or explain why it cannot help you).
Several reviewers commented on Precision’s client service, as evidenced by the company’s frequent updates on their case and general responsiveness.
Other former clients also praised the company’s ability to meaningfully reduce their tax debts with the IRS.
Frequently Asked Questions
- How much is Precision Tax Relief?
Precision does not disclose its fees on the company website, but other third-party sites show an average resolution fee of $2,000. The company does not charge an initial fee.
- Are tax debt relief companies legitimate?
Some legit tax relief companies do try to help clients with their tax debt issues.
Many firms, however, have a reputation for misleading clients on expected outcomes and pricing.
You should do your due diligence if you are considering retaining a tax debt relief firm to help resolve your tax debts.
- How do you get a tax forgiven?
You can potentially get your tax forgiven by filing an offer in compromise with the IRS. Nevertheless, having your offer in compromise accepted with the Agency will depend on your specific tax situation.
- How much do tax resolution companies charge?
The fees that tax resolution companies charge will vary depending on the company and your specific case.
Complex cases such as an offer in compromise will be expensive, while a simple case such as removing a tax lien will be cheaper.
As a rule of thumb, companies typically charge $2,000 through $7,000, although fees can be higher in certain circumstances.
Steve Ching, J.D., covers tax topics for Money Done Right. He is a practicing tax attorney and also has several years of experience at national accounting firms. Steve is passionate about writing and helping people understand and resolve their tax issues.
Logan is a practicing CPA and founder of Choice Tax Relief and Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.