what expertise does a tax attorney offer

IRS tax attorneys specialize in handling a wide range of legal issues related to the tax code. They understand the intricacies of the federal tax code, and most also have in-depth knowledge of the tax code for at least one state. Tax lawyers typically have expertise in at least one of the following issues:

Full Answer

What does a tax attorney do?

Oct 20, 2021 · Duties of a Tax Attorney. Tax attorneys are responsible for a number of different tasks including: Keeping confidential records and tax information for clients. Understanding finance and accounting principles. Communicating and negotiating with federal, state and local government. Evaluating and assessing complicated tax issues.

Should you hire an IRS tax lawyer for back taxes?

Jul 09, 2019 · Tax lawyers will help you work out a formal agreement with the government. They can help you set up installment payments or even negotiate with IRS to lower your amount owed. However, anxious taxpayers need to avoid common scams targeting taxpayers. 2. …

What are the top industries for tax attorneys?

Oct 02, 2020 · A tax attorney specializes in assisting clients in understanding tax laws. Their responsibilities typically revolve around conducting extensive research, meeting with clients to conduct initial assessments and interviews, understanding their needs, and helping them make business decisions by providing legal taxation advice.

How much do tax attorneys make?

Tax attorneys may handle taxing authority's questions via telephone or mail, correspondence audits, and full blown audits. Tax attorneys also represent their clients during tax arbitration with a taxing authority such as the IRS. The goal is to settle the tax matter amicably without litigation, while asserting taxpayer rights.

What do tax lawyers do?

Of course, they specialize in helping people file tax returns and responding to IRS audits, but take a look at all of the ways in which a tax lawyer could assist you! 1. When You Owe Back Taxes.

When do you need to hire a tax lawyer?

1. When You Owe Back Taxes. Not everyone who owes taxes needs to hire a tax lawyer. However, if you find yourself in a position where you owe the IRS an excessive amount of money, you may need to look into. This includes if you owe the IRS money from the year or years below.

What is the penalty for not filing taxes?

The penalty for failing to file is 5% of what you owe for up to five months. After that, the IRS can choose to come after you with criminal or legal charges.

What is IRS field audit?

It is a thorough investigation of your tax records. There are three types of audits: Field audits are the most invasive and occur when the IRS sends an actual IRS agent to your home or business to perform the audit.

Why don't people file taxes?

Most people who don’t file their taxes fail to do so because they know or suspect they’re going to owe money to the IRS and don’t want to pay it.

How long is a tax refund valid?

However, that refund has an expiration date and will only be valid for three years.

What happens if you don't pay taxes?

At this point, if you don’t pay, the IRS will send you a final notice, giving you 30 days to request a hearing with a settlement officer.

What is tax attorney?

OVERVIEW. A tax attorney is an attorney who specializes in the interpretation and application of tax laws and policies. Tax attorneys can perform a wide array of services for their clients, including the preparation and filing of taxes. Tax attorneys are knowledgeable about tax laws, regulations, and policies at several levels—federal, state, ...

Why do people hire tax attorneys?

Many taxpayers hire tax attorneys to help reduce their tax liabilities in advance of filing a tax return. A tax attorney can provide related legal documents and offer advice on how to manage your personal wealth to minimize your taxes. Other wealth management services tax attorneys offer include: Estate planning.

What does it mean when the IRS assigns an agent to your case?

If the IRS has assigned an agent to your case, it usually means that the IRS is close to taking action against you. If you do not already have a tax attorney, this is a clear sign that you might want to contact one.

How long does it take to get a law license?

To obtain a license to practice law in the United States, a law school graduate must pass a state bar examination. Bar exams take two to three days to complete. Candidates spend one to two days answering essay questions covering legal principles and state laws.

What can a tax attorney do?

A tax attorney can build a case in your defense and represent you in court if necessary. Delinquent Tax Returns: Filing outstanding tax returns allows you to bring your account with the IRS current, but filing late can also lead to substantial interest fees and penalties.

What can a tax lawyer do?

Tax lawyers can help you both before you have a tax debt issue and after the IRS has contacted you to resolve tax matters. They can handle the following: Researching Cases: Tax lawyers investigate IRS cases to identify problems and determine potential solutions.

What are the benefits of having a tax attorney?

Some of the biggest perks include: Tax attorneys can resolve complex tax issues. If you’re dealing with a serious tax debt issue, you need an experienced professional on your side. Tax attorneys specialize in resolving high-level tax problems like wage garnishments, tax liens and levies, and penalty abatement.

What happens if the IRS releases a lien on your property?

Tax Lien Release: If the IRS places a tax lien against your property, selling assets like your car or your house can become impossible. A tax attorney can work with the IRS to release its lien on your property and find another solution for repaying your tax debt instead. Wage Garnishment Removal: When the IRS threatens to start collecting its debt ...

How to hire an IRS tax attorney?

When you hire an IRS tax attorney to resolve your tax issues, it’s important to make sure you work with a reputable professional. Reviews and ratings can tell you a lot about how tax lawyers work with clients, but only the attorney’s bar association can tell you whether they’re in good standing. Check your attorney’s listing on their state bar association website to make sure they’re the reliable professional you expect.

What is Hurricane Tax?

Hurricane Tax prides itself on being a full-service tax relief firm that employs tax attorneys, CPAs, and EAs. However, the firm specializes in complex issues like releasing tax levies and liens and lifting wage garnishments. Hurricane Tax can also assist with establishing IRS installment agreements.

What degree do tax attorneys need?

Some also go on to earn a Master of Laws in Taxation (LL.M.) degree, which provides specialized preparation for working in tax law. Finally, tax attorneys have to pass the bar exam administered by their state’s bar association. This exam requires rigorous preparation and proves attorneys’ competence at practicing law.

Why do you need a tax attorney?

A tax attorney will ensure the IRS is playing by the rules and treating your case fairly and ethically. IRS agents are more cautious about asking inappropriate questions or wasting time with unnecessary paperwork if they’re speaking to a tax attorney.

What are the benefits of working with a tax attorney?

THE BENEFITS OF WORKING WITH A TAX ATTORNEY. Tax laws are complex, and the IRS can be intimidating. Resolving tax issues by yourself will often not lead to the desired outcome for which you hope. Ironing out tax issues takes a level of skill and knowledge that you, as an ordinary taxpayer, do not have.

What does an IRS agent do?

If IRS agents can get away with convincing an innocent taxpayer to believe their interpretation of the law, they likely will. A tax attorney will ensure the IRS is playing by the rules and treating your case fairly and ethically. IRS agents are more cautious about asking inappropriate questions or wasting time with unnecessary paperwork if they’re speaking to a tax attorney.

Why do people prefer to work with an attorney?

They prefer working with an attorney because they don’t have to spend their time explaining Tax Law 101 with them. What’s more, working with an x-IRS tax attorney to handle your dealings with the IRS will ensure a quick and efficient process.

What is an offer in compromise?

An offer in compromise is an agreement between a taxpayer and the IRS that settles a taxpayer’s tax debt for much less. There are requirements to qualify for an OIC, and also specifications to apply for an OIC.

What can a tax attorney do to protect your money?

Money And Asset Protection. A tax attorney will also know what to do to protect your income and assets from being seized by the IRS. The IRS can legally put a lien on your property or garnish your wages if you don’t pay your debt. By hiring a tax attorney, he or she can help protect your finances by:

Why do I need a tax negotiator?

Because the IRS wants you to pay your debt as soon as possible. However, working with a tax relief professional, and skilled IRS negotiator, can save you tons of money in tax debt. If you’re seeking tax relief, you need the specialized knowledge and expertise that only a professional like Platinum Tax Defenders has.