A tax attorney is someone with specialized knowledge of tax laws who works with individuals to find solutions to a multitude of problems that may arise. Some of the most common reasons that a person may need to contact a tax lawyer is when he or she needs to file an estate tax return, needs business advice, is engaging in international commerce, or is under investigation by the Internal Revenue Service.
The Complexity of Business Taxes
Oftentimes, if a person owns a business, he or she will find it extremely helpful to consult a tax attorney. Business is complex, and incorrect filing or mistakes on forms can lead to crippling debt and legal complications that may compromise the stability of a company. Rather than going under because of some back taxes, businesses can avoid costly penalties and assets being sold to pay for debts by simply hiring a tax expert capable of finding a solution that will get the company out of hot water.
Ever-Changing Tax Laws
Another simple reason that one might require the assistance of a tax lawyer is that the laws are constantly changing. What was the correct practice for filing one year might become completely incorrect by the next, causing businesses and individuals confusion, and creating drama and misunderstandings where there should be none. Tax lawyers, however, are constantly keeping themselves up-to-date with the changing laws and can bring their expertise to the table to help unsuspecting taxpayers get out of the trouble that they might be in.
Finding the Right Tax Attorney
When it comes to partnering with a professional tax expert, it is wise to ask friends and family members for their recommendations; in doing so, a person can rest assured that he or she will be partnering with an attorney who has a good reputation as well as a good track record. Other aspects that distinguish a competent and experienced tax lawyer are extensive experience with debt management cases, effective dealings with the Internal Revenue Service, and real and documented experience working with taxpayers.
Since tax fines tend to build up quickly over a very short period of time, a person will find that it is in his or her best interest to resolve any issues as quickly as possible. If a taxpayer waits until the last minute to resolve such problems, he or she may be faced with an overwhelming amount of debt, or, in the worst case scenario, may lose a house, car, or other assets and face levies and wage garnishments. The money that is spent on a tax attorney is a wise investment to make that, in most cases, more than pays for itself.
This is not a solicitation for legal services.