You may have heard about the use of local tax attorneys. If you are reading this then you would like to learn more about tax attorneys or consider their services. If you are having any tax issues with the IRS or the state then read on.
What are they?
They are lawyers that specialize in the tax code. Lawyers when entering law school choose to specialize in tax law. The tax code is extremely complicated and very hard to navigate around sometimes. What makes it even harder to understand is that the tax code changes every year. This is why you need a tax attorney. They are commonly used when someone receives a notification from the IRS. Due to how confusing the tax code can be – tax attorneys are used to deal with the IRS.
They are not used for only that purpose as well. If you don’t want to spend hours upon hours learning the tax code then using a tax attorney is for you. These are highly qualified professionals who have spent years learning the ins and outs of the tax code. There is a potential to save thousands of dollars by consulting their services. There could be an obscure deduction that you missed or a write off that can be done under special circumstances.
Many small businesses consider that their tax attorney is just as critical as their accountant (CPA).
They can be used for setting up complicated business structures such as holding companies or master limited partnerships. Other areas of expertise include: negotiating with federal, state and local governments with tax issues, understanding accounting, extensive knowledge of the tax code, and problem solving skills.
They are highly recommended when you face any issues with your taxes. You might be given an audit and have no idea what to do next. Perhaps, you are being slapped with criminal charges that could have been unfairly attributed to you. It’s also quite possible that you were simply just ignorant of the law and unknowingly violated the tax code. Maybe, you are looking for ways on how to reduce your tax bill.
If you have any issues with the IRS then the tax lawyer that you hire can negotiate with the IRS on your behalf. This is a great advantage to have since it is highly likely that your lawyer has worked on other cases and has significant amount of experience dealing with the agency.
Whatever the reasons are it is generally a good idea to hire to employ the service of tax attorneys. The only exception is if you have an elaborate knowledge of the tax law yourself. (Good for you! Why are you still reading this?)
Some questions to ask when consulting a potential tax attorney:
- How long have you been practicing law?
- What is your payment system?
- What are other cases have you worked on?
In summary tax attorneys are lawyers who are experts in the tax code. They are commonly used dealing with tax disputes. They are an excellent choice when one knows little to nothing about the taxation system.