Tax AppealsTax Debts

When Do You Need an IRS Tax Lawyer?

There are many who don’t like their hard-earned money coming out every month for paying their taxes. They find it more difficult to pay the taxes they owe at the end of the year. Though everyone knows where these taxes go and how important they are for the overall growth and development of the country. It is the citizens who are provided with several benefits through the tax income like health programs, social security, defense and security, safety net programs, and other things like paved roads, public transport and much more. But people mostly avoid filing their taxes or some file taxes incorrectly as a result, there could be a tax audit or criminal investigation triggered by the IRS.

At this time, people realize that they need the best IRS tax lawyer who could help them deal with a penalty or criminal investigation (if any) and respond to IRS audits. There are so many things that a tax lawyer can do as they have a lot of responsibilities and skills outside of the obvious. Let’s find out!

It is not necessary that everyone who owes taxes would need the help of a tax lawyer. Instead, those who think that they are in a position where they owe an excessive amount of money and they want to verify how it has been calculated. Moreover, if you owe the IRS money from many years then you definitely need a tax lawyer to look at the matter. They will help you work out a formal agreement with the government and set up payments in installments. A lawyer can negotiate with the IRS on your behalf to lower the amount you owe.

A tax audit is conducted by the IRS if the taxpayer has been found making errors, committing fraud, or giving questionable information from the past so many years. The IRS investigators conduct a thorough investigation of your tax records. These audits could be a field audits in which the IRS agent is sent to your home or business to conduct the audit. The next is an office audit in which the IRS asks the defaulter to bring all the receipts and documentation of an item “in question” to the IRS office. The final one is the correspondence audits which can be done through email. It is relatively uncomplicated as compared to the others. These audits don’t necessarily mean bad but you should take the help of a tax lawyer to have transparency.

Those single individuals who have a straight forward income might not need a tax lawyer. However, those businesses that have employees hiring a tax lawyer could be a good decision as they will guide you through the legal constraints of what you can and what you can’t write off. They could also help you consolidate your tax records, including employee documentation. The best IRS tax lawyer will inform you about the tax deductions you are entitled to and also warn you if there is anything that might throw up a red flag.

While setting up a will, you might need the help of a tax lawyer. Making a will is all about determining the money property or possessions. It is also about to find out where it all is going and a tax lawyer might help you by telling you about tax exemption trusts and informing you about all of the taxation laws related to the inheritance of money, property, and possessions.

A tax lawyer may help you in a number of ways while you plan to buy or sell a small business. The price negotiations and final dealing occur when the business changes hands. It could be a complicated process and can also have tax implications. With the help of a tax lawyer, you can make this process of business exchange smoother. A tax attorney will make you aware of all allocation options for both the buyer/seller and you.

Those who are starting a new business venture, they are unaware of its complexity. To have a better understanding, you must hire a tax attorney as they can help you figure-out self-employment personal taxes as well as business taxes. As there are different business types for example corporations, LLCs, and S-corps, and each one of them are taxed differently. A good tax lawyer will give you useful advice on the legalities of business taxes. With the help of an experienced tax attorney, new business owners can learn the ways to stay out of trouble with the IRS as well as make the most of their potential tax refunds.

Those who are under criminal investigation with the IRS they must understand that they are in big trouble. Only the best tax lawyer can help them to come out of this tricky situation. If you have made errors while filing your taxes a tax lawyer will negotiate with the IRS. He can only let you avoid jail by expressing the sincerity of your mistake. If you are guilty of something and found accused you will end up going to prison. Hire tax lawyer today!
If you think you might face tax issues because you have filed wrong information about your taxes or you have received a tax audit notification or in a worst-case, if you are under criminal investigation with the IRS contact an experienced tax lawyer immediately. A lawyer with experience working with the IRS to resolve tax issues can help you come out of the situation.

Related posts

Do NYS Tax and the IRS view tax debts the same?

Timothy Hart

IRS Tax Debt, New Law allows for collection by private debt collectors

Timothy Hart

IRS Given Passport Cancellation Power

Timothy Hart

Leave a Comment