If you have financial questions or currently owe back taxes, then your best bet is to contact a tax attorney. They are legal professionals who have a specialized knowledge of local and federal financial laws and extensive experience negotiating with the Internal Revenue Service (IRS). It’s always a good idea to have a professional on your side when you are dealing with a government agency.
Unparalleled Expertise In The Field
Like most lawyers who do not fall under the general practitioner banner, a tax attorney is considered a specialist in their field. There are specific federal statutes, IRS regulations, and case laws that these lawyers are familiar with after repeatedly dealing with them over the course of their careers. This gives them a technical advantage over a general lawyer who performs tax duties or the average Joe who fills out their own paperwork. They are also keenly aware of any new legislation or judicial opinions that may change the way a particular matter is handled.
The Expertise To Deal With The IRS
Instead of navigating any overdue financial requirements by yourself, it is always a better idea to consult with a professional. With help from your tax attorney, you may be able to negotiate with the IRS and immediately start on a payment plan. Depending on the underlying issue, your lawyer may even be able to convince the IRS to reduce any pending penalties. Remember, not paying your taxes for a number of years can be very serious, and if this scenario applies to you, hiring representation can go a long way toward resolving any outstanding debts.
The Knowledge To Keep Your Situation Legitimate
Sometimes situations arise-such as a death in the family or opening a new business-that can create a whole new set of financial circumstances for you. Approaching these situations can be difficult and may be best served with help from an experienced lawyer.
A tax attorney will take care of all your paperwork and keep track of all your receipts. This is vital if you or your business gets audited and you are required to produce a paper trail. They can also help you determine which filing status is most advantageous using said paperwork and their talent for applying laws that are confusing to most laypeople.
Remember, whether you are an individual, a sole proprietor, or a corporation, no job is too insignificant or too complicated for a competent tax attorney. Because they are well versed in the necessary codes and federal regulations, hiring a specialized lawyer can save you, or your business, both time and money.