If you’re in legal trouble, a tax attorney can be incredibly helpful. However, a tax attorney can also help you with paying off tax debt. There are many benefits to hiring a tax attorney. However, you might be wondering when the right time is to hire a tax lawyer. Similarly, you may be wondering what a tax attorney can actually do for you. The truth is, tax issues can cause a lot more trouble than you realize. Therefore, it’s important to handle them very carefully. In other words, even the slightest mistake when dealing with tax issues can cause you a lot of financial harm. Likewise, not having a tax attorney can cost you money, time and may even land you in jail. Dealing with tax laws can be time-consuming and confusing for the average taxpayer. Furthermore, tax laws are super complex. Hiring a tax attorney is your best move.
When should I Hire A Tax Attorney?
There are some situations when you should definitely hire an attorney. Alternatively, you may just want legal advice from a tax attorney. Furthermore, legal advice can be good to get when you’re starting up a business. However, there are some times when it’s absolutely necessary to hire an attorney. Here are some cases in which hiring an attorney is your best decision. Once you're ready, call the experts at Platinum tax Defenders for more information.
Tax Attorney For Audits
There are some audits are just routine procedure for the IRS. In other words, the IRS just sends you a letter asking for more information. Furthermore, the IRS may ask you to provide documents that support tax credits or deductions you claimed. If you aren’t comfortable responding to the IRS’ request, you should hire a tax attorney. Furthermore, if you already went through an audit and disagree with the outcome, hire an attorney. If you want to appeal a decision, you may have legal representation. Furthermore, if you owe the IRS an attorney can help you negotiate a settlement.
Negotiating a Settlement During an Audit
An attorney can represent you in court, or help you negotiate a settlement with the IRS. In other words, you can often settle your debt for less with a tax attorney. Furthermore, there are several main ways to negotiate your tax debt settlement after an audit.
- First, you can apply for an Offer in Compromise. In other words, an attorney can negotiate a deal so you pay less taxes than you owe. However, filing for an Offer in Compromise is difficult. It’s best to work with a tax attorney.
- Second, you can apply for penalty abatement. This tax relief option will reduce the amount of late penalties you owe. Furthermore, this option will reduce your overall tax debt.
- Third, you can enter into an Installment Agreement. In other words, you work out a deal to pay back tax debt in monthly payments.
Hire a Tax Attorney if the IRS Pursues Criminal Charges
If you are at risk of going to jail, hire an attorney immediately. Furthermore, you do not want to handle potential criminal charges on your own. In other words, the IRS doesn’t pursue criminal action over small mistakes. Therefore, if you’re at risk of criminal charges, it’s because you did something serious. Likewise, the IRS reserves criminal charges for people who fully evade their taxes. You may be at risk of criminal charges if:
- You chose not to file your tax returns
- Hiding taxable income
- Claiming fraudulent tax deductions or credits
Never ignore notices from the IRS. Furthermore, if the IRS is sending you notices and you ignore them, hire a tax attorney. In other words, you won’t be able to avoid the IRS for long without a tax lawyer. However, an attorney can help you reduce your penalty and keep you out of prison.
An Attorney Works With the IRS On Your Behalf
If you’re afraid to deal directly with the IRS, don’t worry, you aren’t alone. In other words, many U.S. taxpayers find the IRS to be a very threatening agency. However, you don’t have to worry about dealing with the IRS on your own. An attorney can help you by communicating directly with the IRS on your behalf. Furthermore, if you don’t understand the notices from the IRS, consult with a tax lawyer. In other words, before you choose to ignore the IRS, consult with an attorney first. Hiring an attorney can go a long way in keeping your money in your pocket. Furthermore, hiring an attorney can even help keep you out of jail.
Tax Attorneys for Businesses
You don’t always just need a tax attorney when you’re in trouble. In other words, a tax lawyer can help you in a variety of other situations. For instance, if you’re starting a business, it’s smart to consult with an attorney. Furthermore, if you’re selling a business, you should consult with a tax attorney. A tax attorney can help you determine which type of business you should set up as. Furthermore, a tax attorney can help if you’re running an international business. In this case, a tax attorney can help with:
- Tracking and reporting income
- Contract negotiations
- Any other tax matter you may encounter while doing business
International business can be tricky when it comes to taxes. Therefore, working with a tax attorney can help you avoid any future tax trouble.
Tax Attorneys for Inheritance
If you plan to leave money for loved ones, hire an attorney. In other words, you don’t want to leave your loved ones with a big tax debt because of their inheritance. Most U.S. taxpayers will not have to worry about estate taxes. However, it doesn’t mean consulting with an attorney isn’t a good idea. Many tax lawyers specialize in mapping out estate-planning strategies. In other words, these strategies can help you protect your assets and keep them below the current value threshold.
Do you owe a large tax debt?
If you owe back taxes to the state or federal government, a tax attorney can be helpful. In other words, sometimes it’s not as easy as simply paying off your debt. However, if you can pay off your debt, that’s the easiest way to get out of tax trouble. Alternatively, your situation gets complicated when you owe more than you can pay. In other words, the best way to solve significant tax debt is hire a professional tax lawyer. A tax attorney knows how to deal with the IRS. Similarly, a tax attorney can help you negotiate an agreement to make paying your debt easier. Your tax lawyer will work with the IRS to set up a more manageable way to pay off your debt. In other words, they can help you set up an payment plan or negotiate an Offer in Compromise.
Getting Help from a Tax Attorney
The knowledge a tax lawyer brings is invaluable. An experienced tax attorney knows how the IRS works in and out. Furthermore, a tax attorney can save you money at the end of the day. They have the experience to lower the full amount of tax you owe. In other words, they can help you lower interest and penalties that you may also owe. A tax lawyer’s experience regarding how the IRS operates can be invaluable.