Dealing with the IRS can be intimidating, confusing, and downright scary. Maybe you received a confusing letter from the IRS or found an error in your tax return. Perhaps you’re going through an audit, appealing an IRS decision, or facing tax penalties. Whenever you hit a snag with your taxes, you may wonder if it’s time to call in reinforcements in the form of a tax attorney.
In this blog post, we’ll overview critical times when hiring a tax lawyer is the wise choice to stand up for your rights, protect your assets, and get the best possible IRS Tax Help you can
Complex Tax Issues
With over 75,000 pages detailing US tax codes today, even the most basic tax situations can quickly turn complicated. But when you face intricate tax matters, bringing in a legal expert provides immense value.
A tax attorney has comprehensive knowledge of ever-changing IRS regulations, case law precedent, and nuances that general practitioners lack. This allows them to provide authoritative guidance other professionals cannot match, especially for issues open to interpretation.
Common examples of complex tax issues where legal guidance proves critical include:
• International tax matters – foreign tax credits, treaties, expat taxes
• Mergers/acquisitions deals
• Equity compensation – ISO, NQSOs, RSUs
• Cryptocurrency transactions
• Estate taxes for multi-million dollar assets
For sophisticated personal or business tax issues, arm yourself with a tax lawyer’s specialized expertise.
IRS Tax Disputes & Litigation
Perhaps you filed your taxes accurately to the best of your knowledge, but the IRS computers flagged your return. Now, the IRS demands additional documentation and money owed or threatens an audit. Or maybe the IRS already audited your filing and made adjustments/assessments you disagree with.
Many taxpayers panic with that first IRS notice or feel overwhelmed when facing an IRS auditor and make critical mistakes. Having an experienced tax attorney on your side levels the playing field.
Tax lawyers know how to communicate with the IRS on your behalf to resolve discrepancies and provide appropriate documentation. Their legal know-how equips them to identify IRS overreach or violations to protect your rights. And if a tax dispute cannot get settled directly with the IRS, they can represent clients in court (including U.S. Tax Court, Federal District Courts, etc.) for tax litigation.
Criminal Tax Issues
One of the most frightening situations is to be accused of criminal tax offenses, which can yield massive fines and even imprisonment. Tax evasion, fraud, or intentionally not paying taxes are just a few examples of criminal tax issues the Department of Justice prosecutes.
If you receive that devastating letter from the IRS Criminal Investigation Unit about potential criminal tax charges, immediately consult a tax attorney! DO NOT try to handle federal tax crimes alone. Beyond intricate legal expertise, a tax lawyer understands your constitutional rights, IRS procedures, and criminal defense strategies.
The bottom line is a tax attorney can often negotiate reduced penalties or prevent criminal tax charges from being formally filed. Their advocacy can save clients years behind bars and millions in fines.
Tax Help When Launching a Business
Starting a business unleashes a flood of tax rules and registrations to comply with. You need an Employer Identification Number (EIN), business license, sales permits, accounting methods advisory, and more. When filing your first year of business tax returns, you must accurately calculate complex deductions and expenses.
Rather than getting stuck in analysis paralysis, let a tax attorney guide your steps.
• Choose the right business entity and register it properly
• Set up payroll, 1099 contractors, W-2s, etc. legally
• Take every eligible deduction and credit per industry
• Avoid common missteps that trigger IRS audits
A tax lawyer provides business tax help so you can confidently launch your company in full compliance.
Tax Planning & Preparation Needs
Working with a tax professional year-round ensures you proactively minimize tax liabilities. An experienced tax attorney offers both tax planning and preparation services.
For tax planning, a tax lawyer advises on big-picture strategies to implement now that yield tax savings later. This includes guidance on investments, charitable donations, retirement plans, real estate transactions, and estate plans tailored to your financial goals.
Then, when it comes time to prepare annual personal or business tax filings, tax attorneys help document income, properly claim deductions/credits, and submit accurate returns. Some tax attorneys specialize in specific industries or professions to intimately understand associated regulations.
Get a tailor-made tax strategy and compliant filing support from one personal tax help expert.
Find the Right Tax Attorney Today!
Don’t delay finding qualified legal tax help if you face IRS issues. The sooner you engage a trusted tax advisor, the better the outcome typically is. Make sure any tax attorney you consider has extensive experience specifically related to your unique tax situation.
Whether it’s an alarming letter from the IRS, complicated business taxes, or just optimizing your annual filings, a taxation law expert can eliminate frustration and maximize tax savings. Get the top-notch tax help you deserve by calling a tax attorney today!