While taxes are intended for our indirect benefit, it can be a cumbersome affair to do taxes, especially when you’re a busy person. tax attorneys, as the name suggests are law professionals who deal in the technical field of tax laws. It’s a good idea to have a tax attorney by your side to take care of your annual taxes in an organized and care free manner, ensuring that the watchful IRS stays off your back. If your income or your property is considered as being taxable under the IRS, it is often advised that you must hire a tax attorney.
Here is a list of a few reasons why you should consider hiring a tax attorney.
1. Tax Laws Are Complicated
A person, who is not involved in the field of law, might not be aware of the intricacies of taxation laws. A tax attorney not only possesses the acute knowledge of the subject but is also experienced to represent your paperwork to the IRS. They will do this in an organized manner and negotiate the agreement with every single clause to get you the best benefit possible.
2. During IRS Tax Disputes
As soon as you receive a notification from the IRS about an audit, it is advised that you hire a tax attorney with immediate effect. Dealing with the complex keywords of the IRS is not a simple layman task and the help of an experienced tax lawyer is required for most individuals. The attorney will know exactly how to respond to IRS notifications and will represent you in a professional manner in front of the IRS.
3. When Starting a New Business
It is always advised to take the expertise of a tax attorney when staring a new business. Taxation laws can be complicated and can differ from place to place. A taxation lawyer is one of the best subject matter experts to know about a particular state’s taxation laws and can also prepare the necessary documents for you.
4. Decreasing the Tax Burden
Several times, while computing your taxes, it becomes a complex affair to take all the tax deductibles into account. Many people end up paying a lot more than they actually owe to the IRS. A tax attorney can not only provide you with his deep expertise on taxes and taxation laws, but can also help you compute your taxes in an efficient and organized manner. As a lawyer can assess your spending and earnings in a year in a much better way than you can ever do, he can often save you a lot of money.
5. When You Receive The Dreaded CP Notice From The IRS
Although it is a simple reminder notice from the IRS, often sent to notify people of their tax dues, the CP notices can be scary. The language in a CP notice can often be confusing and is pretty unclear to most people who do not belong to field of law. A tax attorney can help you identify the meaning of the letter and can also provide you with sound advice on how to respond to it.
6. When Pursued With Criminal Charges By The IRS
Being charged with a tax fraud or offence is a serious situation and can cause high levels or mental pressure. One is required by the law to pay income taxes and it is considered a criminal offense to evade income tax charges. If you receive a notice from the IRS, it is always advisable to hire the services of a tax attorney. The last thing you want is to end up in prison for a huge fine that could’ve been easily avoided with the help of a tax attorney.
A person, who is not involved in the field of law, might not be aware of the intricacies of taxation laws. A Tax Attorney not only possesses the acute knowledge of the subject but is also experienced to represent your paperwork to the IRS in an organized manner and negotiate the agreement with every single clause being loud and clear to get you the best benefit possible. One can also refer to the Lexis Nexis Taxations Law for an in depth study of taxation laws.
About the author: Luke Peters is the current contributor for Lexisnexis.com.au and has written several articles across the internet on topics like law and finance. His keen interest in exploring the various subjects in the field of law and finance has been the source of his rich knowledge about the respective fields.