Most people assume they only need to hire a tax attorney when they are in a hot mess with the IRS. However, there are many more scenarios where hiring a tax attorney is the best idea. Here are some of the top reasons when hiring a tax attorney is important.
• Dealing With The IRS – Do you feel that the IRS has been unfair towards you and are planning to bring a lawsuit against them? Well, since you might not have the right idea on how to go about this, a tax attorney will definitely come in handy. The same goes if you are being investigated by the IRS or if you owe them more than $10,000. Under any of the last 2 situations, the IRS might start foreclosing on your assets to try and recover the money. Therefore, a tax attorney would assist you with navigating the mess. If the IRS has made a decision that you disagree with, it is prudent to hire a tax attorney for assistance with navigating the issue.
• Tax Fraud – Are you aware that you have committed tax fraud? Do you suspect that you have committed tax fraud? Are you aware of someone who has committed tax fraud? Well, in any of these situations, you need a tax attorney who can look into the matter and determine the way forward. A tax fraud is an offense that can lead to prison time or heavy penalties. Therefore, if you suspect that such an act has been committed, you should hire a tax attorney immediately.
• Business Reasons – Are you thinking about starting a new business? If you are a beginner, you might not have an idea on how to properly structure the business. Therefore, a tax attorney with the experience of handling these issues can provide you with the best advice on how to go about it. Do you run an overseas business? There are many grey areas that come with taxing an overseas business. If you don’t know how to deal with these issues, a tax attorney can advice you how to deal with your taxes to avoid any issues with the IRS.
• Estate Planning – Property taxes are often a conundrum for most people. There are a lot of things to be considered when it comes to estate planning. A good tax attorney should assist you with any tax issues that come up during the entire process. If the estate belongs to a deceased individual, the tax attorney can also advice on how to deal with any property taxes or debts that arise from the disbursement of the estate among the next of kin.
Now that you know what a tax attorney can do for you, the next step is finding the best one for the job. Here’s one we can recommend http://csbgroup.com/about/law-firm/. Certainly, you want someone who has your interests at heart. Look for someone who is experienced in tax law, has a good reputation in your locality and has also gone through the necessary educational requirements for becoming a tax attorney. That way, you can rest assured that all your tax issues are being handled by the experts.