UNDERSTANING THE CONCEPT OF “TAX ATTORNEY”
The chief advantage to hiring a tax attorney is to keep your case from being destroyed. If you don’t then the opposite party lawyer will get you to talk about things you shouldn’t and to admit things that you think have no meaning because he want your money.
The way to protect yourself from such paymentit is necessary to understand your situation and the best way to fully understand many tax-related situations is with the help of a qualified tax attorney. If you are the object of IRS scrutiny, a legal expert can help you sort through the complex details of your problem and develop a plan for returning you to Uncle Sam’s good graces. In the early stages of a tax dispute, consultation with a tax lawyer may reduce or eliminate your tax problems before the situation is out of your control.
As things get complicated, a tax attorney can really earn his or her fee. Taxpayers often overpay their tax liability because the IRS has acted aggressively or inappropriately and there was no experienced tax lawyer to put on the brakes.
If you are facing a quarrel with the IRS regarding an audit, a tax bill you cannot afford or a dispute over tax amount owed, seek qualified help. A tax attorney can also clear up issues around corporate, payroll, estate, property, capital gains, or personal income taxes and deductions.
As your agent, a tax attorney can:
1)Protect you from IRS error, abuse, and intimidation
2)Interpret your tax liability
3)File an amended tax return
4)Deal with an IRS lien or levy or help you negotiate an offer in compromise
5)Manage corporate tax or bankruptcy issues
6)Sort out personal income tax, property tax or bankruptcy issues
7)Protect your assets by helping you identify and avoid potential tax risks
8)Manage complex business transactions such as liquidations or mergers
9)Communicate with the tax authority, know its regulations, and stay on top of the paperwork
Even if you want to handle a relatively simple tax issue yourself, a tax attorney can provide excellent consultation, assessing the soundness of your legal position and developing a strategy.
As your advisor, a tax attorney could do the following:
1)Give you feedback on laws relevant to your case
2)Identify weaknesses in your legal position
3)Catch costly errors that might be present in IRS calculations
4)Draft legal papers
5)Suggest when arbitration or mediation might be preferred alternatives to litigation
And ultimately step in and represent you if you find that you are in above your head
A creative tax attorney will interpret your position and use established legal precedent to support a particular argument. He or she will uncover applicable “loopholes,” and identify conflicting statements or inconsistencies in IRS publications that can work to the benefit of his or her client. Even if the issue is uncomplicated, the decision to hire a tax attorney comes down to determining the potential reduction in tax liability and penalties, plus the value of the reduced hassle.