Times You Will Need A Tax Attorney
A tax attorney is a specialized professional who understands tax laws and regulations. Unfortunately, if you have an issue with the IRS, there will be instances where you need the assistance of a tax attorney. Here are a few instances when you should hire a tax attorney to handle your issues with the IRS.
Tax Disputes With the IRS
Unfortunately, if you are audited by the IRS or if the IRS is disputing your tax returns, a tax attorney's help is critical. The IRS has a team of accountants and attorneys who are well-versed in tax laws, and if you try to take on the IRS yourself, you could wind up owing a lot of money. Instead, you can fill out certain tax forms that can give your tax lawyer power of attorney.
This means that any questions asked by the IRS and forms that must be filled out will be handled by your attorney, which can alleviate a lot of stress. With the help of a qualified attorney, you will stand a better chance of not owing the IRS money or even spending time in jail if you are found guilty.
You Owe the IRS Money
According to U.S. News and World Report, approximately 21 percent of Americans feel stress about their tax debt. If you are amongst the millions of Americans with unpaid tax debt, you need to contact the IRS immediately to help settle this debt. If you do not pay the IRS what they are owed, they can garnish your wages or even seize your belongings.
A tax attorney can help you negotiate your tax debt or work out a payment plan with the IRS.
Estate Planning
If you are planning your own estate or a loved one has recently died and left you with the important job of handling their estate, hiring a tax attorney is critical. There are several tax liabilities that come with estate planning. For example, if you are leaving part of your estate to a loved one, such as a spouse or child, your loved one could wind up with a sizeable tax debt.
Tax Liens
Finally, if you owe back taxes, the IRS can put a lien on your property, such as your home. This lien can make it difficult to refinance or sell your home. A tax attorney can help you negotiate a payment plan or find another way to help remove the lien.
From tax liens to estate planning and audits, there are several times you need the help of a tax attorney. Contact a local company, such as IRS Trouble Solvers, LLC, to learn more.
