When you hire a tax lawyer to assist you in going up against the IRS (Internal Revenue Service), you have a higher chance of winning than doing so alone. Settling a tax issue requires experience and expertise only a professional lawyer possesses. This article will go through the advantages of having a tax lawyer.
The following are reasons why you need to hire a professional tax lawyer:
- Expert in tax code
- Protection from intimidation and abuse
- Specialist in filing tax returns
- Negotiator
- Income and property protection
- Assistance with setting up a new business
Expert in Tax Code
The present Internal Revenue Service tax code has above 1700 pages. Even if you have time to read every page, you also need to understand its content and know the right way to use it to resolve your tax issues.
However, instead of going through all that stress, you can hire a lawyer at Victory Tax Lawyers. They understand the code and have the time to analyze and implement the laws legally and correctly to assist with your tax issues.
Federal and state tax codes are constantly changing. Thus, you could misunderstand the present tax laws or risk the outcome of your case on outdated information if you decide to resolve your tax issues on your own. However, if you employ a tax lawyer, they use the knowledge of those codes to tackle whatever problem you have with the IRS.
Protection From Intimidation and Abuse
Most IRS agents are very professional and polite when addressing regular taxpayers. They usually will not lie to you or use threatening methods to get you to pay what you owe.
Nevertheless, if you decide to handle your tax issues on your own, you risk coming up against a rogue IRS agent who can intimidate or abuse you during sessions. However, having a tax lawyer at your disposal guarantees you protection from such threats.
Your tax lawyer will additionally protect your rights during your ongoing tax case and represent you in meetings.
Specialist in Filing Returns
Your lawyer will assist with the task of filing any tax returns you need to deliver to the IRS. For instance, your lawyer can assist in filing a corrected return expertly and promptly if you are required to rectify some information on the current year’s return.
Your lawyer can also fill out the required documents and request an extension from the IRS if you need an extension for filing. By this, your attorney can help file late returns.
Aside from submitting your returns, your tax attorney will also ensure your evidence of income gets delivered to the IRS promptly.
Negotiator
It can be scary to have a conversation with the IRS either through the phone or by letter. Therefore, you might not answer questions correctly or know the necessary information to give the agent in charge of your case.
Instead of giving incorrect information mistakenly and incriminating yourself in the process, you can let your attorney handle conversations with the IRS. Your tax lawyer can speak with the service on your behalf and take care of letters, phone calls, and other communications. They will know the necessary information to give and ensure every piece of information you submit is valid.
Income and Property Protection
Tax lawyers know how to safeguard your income and property very well. Although the IRS can use your earnings or put a lien on your properties to rectify your tax debts, a tax lawyer can help you protect your finances by doing the following:
- Arranging an installment agreement with the IRS
- Filing for an offer in compromise form to pay up your tax debt
- Request to set your tax debt in Currently Not Collectible status
- Arrange to pay your tax debt using your credit card or other payment methods
Assistance With Setting Up a New Business
Starting a new business can be more stressful than you think. Thus, it is not only about getting the business set up correctly, but you must choose between a partnership, a sole proprietorship, a C-corporation, and an S-corporation.
You also need to apply for an Employer Identification Number, handle all paperwork, set up your business accounts, and more. Further, this process can be stressful and complicated even if you rebrand an existing business you bought. Tax lawyers have lots of experience in business planning and can assist you in every aspect of the planning process.
Conclusion
Tax debts can be overwhelming, but you can tackle them or prevent them by hiring a tax attorney with the necessary experience and knowledge. Protect yourself, your assets, and your income from the IRS by hiring a competent tax lawyer today.
Also Read: Importance of Regular Tax Payments