Posted on: 10 January 2022Share
Many people encounter problems when working with the tax system, given its complexity. This complexity has led to the rise of many tax professions that specialize in helping clients with issues like filing tax returns and developing tax strategies. Most people hire tax resolution specialists, tax strategists, certified public accountants, tax enrolment agents, and tax resolution specialists to fulfill their tax obligations. These professionals typically help clients handle their tax issues to ensure tax efficiency and compliance with tax laws. However, some complex and high-level tax issues require legal interventions.
Tax attorneys help clients with personal and business income tax matters and thus double up as legal representatives and financial advisors. Thus, people with complex tax issues such as violating IRS regulations and requiring legal representation in tax matters should consult tax attorneys. The advantages of consulting tax attorneys are discussed below:
Reliable Knowledge Regarding Tax Codes
Many people have never read the tax code and often experience difficulties dealing with the tax system. Lack of tax code knowledge costs people in various ways. Some people pay more taxes than they should, fail to take advantage of loopholes and incentives, or make costly errors because they do not understand how the tax system works. Thus, people should hire tax attorneys with vast tax code knowledge to mitigate tax errors. Moreover, tax laws and regulations are continually changing at the federal and state levels. Taxpayers who cannot keep up with the changing tax laws usually rely on outdated information, leading to costly tax errors. Thus, people should hire experienced tax attorneys to handle tax-related issues because they are updated on the laws.
Defending Tax Non-Compliance Charges
Some taxpayers face challenges that require legal representation. Tax attorneys represent clients in tax appeals, tax audits, business payroll tax problems, and criminal charges like tax evasion. Tax auditing entails scrutinizing an organization's accounting and financial records to confirm compliance. Tax audits are rare and usually occur when the IRS suspects impropriety. People who receive notice of impending IRS audits should consult tax attorneys for reliable legal advice and representation. Hiring tax attorneys for legal representation increases the chances of getting a fair.
Effective Asset Protection
Taxpayers may also hire tax attorneys for asset protection when dealing with liens, levies, wage garnishments, and penalty abatement. These legal proceedings allow the IRS to take people's assets to repay taxes. Thus, people at risk of losing their property and assets to the IRS should consult competent tax attorneys who can challenge the process on multiple grounds. Tax attorneys help clients apply for a "currently non-collectible" status (CNC) from the IRS, which stops them from recovering assets for a period.
If you have questions about tax attorneys, reach out to a local firm for more information.