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Personal Finance

Precision Tax Relief Review

Updated Dec 26, 2023   |   10-min read

Our take on Precision’s tax relief services

  • Best overall
  • LendEDU editorial rating: 4.9 out of 5

Precision Tax is the best overall choice for individuals facing substantial tax debts. This designation is based on a rigorous evaluation that considers a wide range of factors. To determine Precision’s editorial rating—a high 4.9 out of 5—we considered eligibility requirements, costs, company history, and customer experience. 

Precision Tax can help with various tax issues, from Offer in Compromise negotiations to annual tax preparation. Its staff of expert professionals includes attorneys, CPAs, and IRS Enrolled Agents. This service might benefit taxpayers who owe at least $10,000 to the IRS and seek comprehensive support in dealing with back taxes, levies, and other complex tax issues. 

Its free consultation, no-interest payment plans, and flat fee structure make it an accessible and transparent option. Add to that a solid money-back guarantee, and you have a tax relief service that instills confidence and offers genuine assistance. If you’re trying to navigate the labyrinthine world of IRS settlements and need more than a DIY solution, Precision Tax should be at the top of your list for consideration.

About Precision Tax

Founded in August 2018, Precision Tax assists taxpayers struggling with debts to the IRS. It aims to simplify the often daunting process of dealing with IRS settlements, back-tax returns, and other tax-related challenges.

Precision Tax is best for individuals who owe a minimum of $10,000 in tax debt. It specializes in federal tax issues but can assist with state tax debts if you owe federal taxes. Its team of seasoned tax professionals offers a range of services, from negotiating Offers in Compromise to helping release federal tax liens.

If you are in a bind with the IRS and your tax debt exceeds $10,000, Precision Tax is tailored to meet your needs, offering expertise and various options to resolve your tax issues.

Keep reading because Precision Tax’s 94% success rate could be the game-changer you need for your financial well-being.

How does Precision Tax work?

Precision Tax makes it straightforward to resolve your tax woes. The company starts its client relationship with a free consultation to gauge your unique tax situation. During this initial meeting, a tax professional gathers essential information, outlines your options, and provides a quote if professional services are the appropriate next step.

Dealing primarily with tax debts that exceed $10,000, Precision Tax employs a skilled team of attorneys, CPAs, and IRS Enrolled Agents to offer a wide range of services. These range from back-tax return filing and penalty abatement negotiation to more complex issues, such as IRS levy releases and Offers in Compromise

The cost for these services is a flat upfront fee, and if you’re short on funds, you can take advantage of a no-interest payment plan. Precision’s money-back guarantee offers a 30-day window to reclaim your money if you’re unsatisfied. The time it takes to resolve your tax issues varies, but you’re in capable hands.

What services does Precision Tax offer?

Precision Tax offers an extensive suite of tax relief services. Its breadth of services sets it apart in an industry where many companies have a more narrow focus. The company’s specialized professionals are ready to assist with the following.

ServiceHow it works
Back-tax return filingHelps you get up-to-date with overdue tax returns.
Offer in Compromise negotiationsExpert negotiations to lower your total tax debt.
Revenue officer assistanceProvides guidance and representation when dealing with IRS revenue officers.
Payroll tax debt assistanceHelps businesses resolve outstanding payroll tax issues.
IRS levy assistanceAids in preventing and releasing IRS levies on your assets.
Bank and wage levy releaseHelps remove or lessen levies on your bank accounts and wages.
Federal tax lien releaseAssists in removing federal tax liens affecting your property.
IRS hardship statusHelps qualify you for a temporary pause on IRS collections due to hardship.
Tax debt expiration adviceOffers guidance on waiting out the statute of limitations on your tax debt.
IRS payment plan negotiationHelps establish a manageable monthly payment plan with the IRS.
Penalty abatement negotiationWorks to remove or reduce penalties tied to your tax debt.
Annual tax preparationAssists with yearly tax prep to keep you on track.
Innocent spouse applicationHelps with filing for relief from joint tax liabilities due to a spouse’s actions.

Precision Tax’s wide range of services and in-house expertise make it a strong option for resolving common and complex tax problems.

How much does Precision Tax cost?

Engaging with Precision Tax involves minimal financial risk upfront; the company offers a free consultation to evaluate your situation. 

Once you decide to proceed, Precision Tax charges a flat upfront fee that varies based on the complexity of your tax issues. This fee covers all services required to resolve your tax problems without hidden charges or ongoing fees. 

The company also provides a 30-day money-back guarantee for additional peace of mind. You can opt for a no-interest payment plan, making the service financially accessible.

CostDetails
Free consultationInitial assessment of your tax situation
Flat upfront feeCovers all services; amount varies based on complexity
30-day money-back guaranteeFull refund within 30 days if not satisfied
No-interest payment planFlexible payment options without interest

Precision Tax’s transparent fee structure stands out in an industry where opaque pricing often leaves customers uncertain. The flat upfront fee and no-interest payment plan options make it easier to manage your finances while resolving your tax issues.

How much can Precision Tax save me?

When it comes to saving you money, Precision Tax boasts impressive numbers, including a 94% success rate in Offer in Compromise negotiations. 

On average, Precision says clients pay just 3.6 cents on each dollar they owe, substantially reducing their tax burden. The median debt settled is $39,000, showcasing the firm’s effectiveness in negotiating with the IRS.

Having professionals on your side who know the ins and outs of the tax system can make a significant difference. By leveraging Precision Tax’s expertise, you can prevent costly penalties, interest, and legal repercussions. 

Before you pay anything, the company provides a free initial consultation where you’ll get an idea of your potential savings. This helps you make an informed decision before committing to the services.

Pros and cons of Precision Tax

Before making any financial decision, weighing the risks and benefits is wise. Here’s what to consider if you think Precision Tax might be right for you.

Pros

  • Free consultation

    You get to dip your toe before diving in. A free initial consultation allows you to understand your options and potential savings.

  • Flat fee structure

    No hidden costs or surprises. You know what you’re paying upfront.

  • No-interest payment plan

    Manage your payments without the burden of accumulating interest

  • Money-back guarantee

    If you’re unsatisfied within the first 30 days, you can get your money back.

Cons

  • Limited service for low debt

    You’ll need to look elsewhere if you owe less than $10,000.

  • No audit representation

    Undergoing an audit? Precision Tax won’t be able to assist.

  • State tax limitations

    Precision focuses on federal tax issues, so if you only have a state tax issue, it can’t help.

Precision Tax excels in many areas but falls short in a few. For those with lower debt amounts or facing an audit, it’s not the right fit. 

TaxRise is a solid option for lower debts in such cases, and Tax Hardship Center offers robust tax relief guidance. Anthem Tax Services, which we determined has the best money-back guarantee, could offer a better safety net for the cautious consumer.

See our full list of personal finance companies for more.

How do you start working with Precision Tax?

To get started with Precision Tax, you can expect a straightforward process. Here’s a list of steps to guide you through it:

  1. Contact Precision Tax: Reach out via phone or email to schedule a free consultation.

Source: Precision Tax

Source: Precision Tax

  1. Free consultation: Allow about 15 minutes for this. During the consultation, a tax professional will ask questions about your IRS issues to understand your situation and explain your options.
  2. Receive a quote: If you decide Precision Tax is a suitable fit, it will provide a quote for services.
  3. Submit documents: If you have copies of any IRS notices you’ve received, submitting them can be beneficial. However, it’s not mandatory.

This simple four-step process is all it takes to start resolving your tax issues with Precision Tax.

Is Precision Tax a reputable company?

Customer reviews are valuable for understanding the real-world experience you can expect when working with Precision Tax. These reviews provide insights into the company’s reliability, the quality of its services, and its overall commitment to customer satisfaction. 

A glance at customer ratings from multiple platforms can offer you a well-rounded view and help you make a more informed decision. Now, let’s dive into the specifics.

SourceCustomer ratingNumber of reviews
Trustpilot5 out of 51,749 
Better Business Bureau4.77 out of 555
Google5 out of 5243

Reviews collected on December 15, 2023.

When it comes to reputation, Precision Tax scores well across multiple review platforms. The company holds an A+ rating with the Better Business Bureau and has stellar customer ratings on Trustpilot and Google. The overwhelming majority of reviews praise the ease of working with Precision Tax and the relief provided by its services.

However, it’s worth noting the few criticisms that appear across these platforms. These revolve around the cost of services, the need to provide more information than anticipated, and occasional failures in negotiating settlements with the IRS. These are points to consider, but they seem to be the exception rather than the rule. 

Precision Tax demonstrates a solid commitment to customer satisfaction and is highly recommended by most of its clientele.

Does Precision Tax have a customer service team?

Solid customer service can make all the difference when dealing with tax woes. Precision Tax’s customer service team is U.S.-based, headquartered in Coeur d’Alene, Idaho. 

The team assists with initial consultations, ongoing case updates, and answering any questions you might have during the tax relief process. Office hours are Monday to Friday, 6:30 a.m. to 6 p.m. Pacific time, so you have a decent window to reach out for help.

Ways to contact Precision Tax:

  • Email for support: [email protected] 
  • General email: [email protected] 
  • Primary contact number: 1-855-212-5900
  • Corporate phone number: 208-215-7245
  • SMS (for text messages): 208-643-0027
  • Mailing address: 233 E. Locust Avenue, Coeur d’Alene, ID 83814

Precision Tax tax relief FAQ

Can Precision Tax eliminate all my tax debt?

Wiping out your entire tax debt sounds appealing, but setting realistic expectations is essential. 

Precision Tax boasts a high success rate of 94% for its Offer in Compromise service, stating clients pay, on average, just 3.6 cents on each dollar owed. However, the complete elimination of tax debt is not guaranteed and varies depending on individual circumstances, such as income, assets, and tax liabilities.

Why aren’t the costs listed on its website?

Precision Tax adopts a personalized approach for each client, making it difficult to have a standardized pricing list on its website. Precision will assess your tax situation during your free consultation and provide a customized quote. 

The fee structure is based on a flat upfront fee, which depends on various factors, such as your specific tax issue and the complexity of your case.

What happens if Precision Tax doesn’t improve your situation?

Precision Tax offers a 30-day money-back guarantee. You’re eligible for a refund if you don’t see an improvement in your tax situation within that time frame. 

However, it’s crucial to understand what “improvement” means in your case and discuss this with the company beforehand. Remember: Tax resolution is often lengthy, and immediate results may not be feasible.

How we rated Precision Tax

We designed LendEDU’s editorial rating system to help consumers identify companies that offer the best financial products. Our experts spend hours researching these companies each year to ensure our ratings are fresh and accurate.

Our most recent evaluation compared Precision Tax to several tax relief companies across a number of factors, including eligibility requirements, costs, company history, and customer experience. We weighted, scored, and combined these factors to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. We round all ratings to the nearest tenth decimal place.

ProductBest forOur rating
Tax relief servicesBest overall4.9 out of 5Request a quote