When tax season comes around, you better be ready. You must have all your documents in order. It’s important to file on time so you can avoid issues.
Filing taxes might not always be straightforward. In some situations, a taxpayer might need a tax attorney. If you find yourself in a complex situation, you should hire one.
When do you have to hire a tax lawyer? Read on to learn 5 reasons why you might need to hire a tax attorney.
1. You’re Starting a New Business
Are you going to start a new business? Congratulations are in order. If you’re starting one, you want to make sure you file your taxes right the first time around.
As a new business owner, you can’t afford to make a mistake on your business taxes. A tax attorney can help you determine what you owe. Your tax attorney will devise tax-smart strategies to help your business succeed.
2. You Owe the IRS Back Taxes
The latest data shows that Americans owe more than $114 billion in back taxes to the IRS. People who owe back taxes can face significant penalties and even jail time.
Do you owe the IRS back taxes? If you owe a lot of back taxes, it would be wise to hire a tax attorney. A tax attorney can help you set up an agreement with the IRS.
3. You Want to Appeal a Tax Audit
If the IRS informs you they will audit you, you might want to hire an attorney. An IRS attorney can appeal the audit on your behalf.
If the IRS wants to take you to court, you will need the help of a tax attorney. The attorney you hire will know how to navigate the system. The attorney can increase your chances of winning the appeal.
4. Stopping an IRS Levy
The IRS might decide to do a levy. This involves the legal seizure of property. The IRS can do this to satisfy a tax debt.
If you get a levy notice, you must act right away. A tax attorney can stop a levy if you provide the attorney with the right documents.
The best tax attorney can help you with the collection due process hearing. This is an option you have to contest a levy before it becomes official.
5. Estate Planning
Do you have to do estate planning? This can be a complex task to handle. It involves naming a person who will receive your assets after you die.
A tax attorney is the perfect professional to help you complete this task. The attorney can take care of all the paperwork to reduce estate taxes and set up trusts.
Hire a Tax Attorney Now
If you find yourself in any of these five situations, you should hire a tax attorney. This type of attorney knows how to navigate the system. Hire a lawyer who will take on your case and improve your chances of beating the IRS.
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