Taxes are NOT voluntary, the law stipulates that each entity, be it a company or an individual, is required by law to file tax returns. Businesses must pay quarterly taxes to the IRS. From an accounting standpoint, taxpayers can utilize the services of a tax attorney and CPA to resolve demanding IRS issues. Certainly there are a large number of competent accountants available and many of them will be able to help with financial advice related to IRS tax issues, however your familiarity with tax laws may be limited. To get the proper legal information, you may need an attorney, and any reputable tax accountant should be able to give you a good reference.
How a Tax Attorney Can Help You
The services provided by the tax attorney fall into two categories.
Tax planning: Due to knowledge of tax laws, the tax attorney can assist you with your financial planning, to help prevent future tax difficulties. They will act as consultants to advise you on the financial path that will comply with the necessary income laws.
Tax disputes: A tax attorney will represent your interests and protect your rights in the event that you become involved in tax disputes. If you already have problems with the Internal Revenue Service (IRS) or with State Revenue, the tax attorney can help you resolve the ongoing problems. Tax attorneys may be able to negotiate debt relief with the removal of ties and liens. They must also be able to arbitrate, penalty or interest reductions. They would handle all negotiations with the IRS or the government on your behalf. IRS tax attorneys are typically licensed attorneys who have been trained to focus on domestic or international taxes. Because these professionals are experts in understanding and applying tax laws, they can help you find debt relief to reduce the amount owed to the Internal Revenue Service and can help you establish payment plans to minimize debt obligations.
The services provided by a tax debt attorney include, but are not limited to, negotiating the payment of taxes on your behalf. They can also provide assistance with most tax related problems. If you have deficiencies on your taxes, you should be aware of IRS policy to encourage full payment of all tax debts, and also that there are strict instructions and administrative barriers, before you agree to an installment agreement. Tax attorney is almost absolutely necessary when you are facing tax related issues, such as an audit. Tax attorneys can act on your behalf in a number of capacities that may include negotiating your tax burdens, property liens and liens, wage garnishments, and bankruptcy proceedings.
When to hire a tax attorney:
The final resolution to hire a tax attorney should be simple. Tax-related problems can be avoided with the guidance of a competent tax attorney who can keep up with a monthly advance. Then he or she can act in an advisory capacity, and you can learn about impending difficulties. Working together with your accountant, the tax attorney, can ensure that your affairs remain compliant. The difference between a tax attorney and an accountant or CPA is often misunderstood or underestimated. Not everyone will need to hire a tax attorney. If you hire an attorney, in case you are ever audited and brought to trial, unlike a certified public accountant or accountant who can be called to testify against you in court, everything you tell them is fully protected by confidential attorney-client agreement.
There are several reasons why you may need to hire a tax attorney.
The most important reason to hire a tax attorney is to have difficulty with the IRS. Being audited and confronting the IRS can be traumatic for most insiders. It can indicate incompetence or ignorance on previous tax returns. Your tax attorney should be able to offer you advice on the best legal solutions that may be available to you. Most people will only seek the help of a tax attorney after difficulties arise and they need tax debt relief. Others may wait until they meet with the IRS, and others may try to negotiate with the IRS on their own. There are very few individuals and business owners who can independently deal with the Internal Revenue Service effectively.