why choose a tax attorney infographic

A tax attorney can help you better understand tax policies and laws and how they can impact you or your business. Tax attorneys often advise clients on wills, trusts, inheritance, personal wealth management, and estate planning. They can also help negotiate tax obligations, handle litigations and represent clients in audit hearings or court cases.

Full Answer

What is the attorney client privilege?

The communication between an attorney and a client is subject to the full and well-protected attorney-client privilege. When the IRS is investigating your tax reports (or trying to put you in jail), they frequently ask for testimonies and documents from tax preparers you hired to assist you in filing and financial management.

Why do you hire a tax attorney?

By hiring a tax attorney, you enhance efficiency and reduce the chances of making gross unnecessary errors.

How many words are in the Internal Revenue Code?

According to the tax foundation, the Internal Revenue Code consists of 2,412,000 words, and other regulations help explain the laws, adding some 7,665,000 more words. Those are ten million words for you—what could be easier? No wonder 26% of Americans hate filing taxes!

Is the IRS a joke?

Tax-related issues should be handled thoughtfully and given careful consideration. Without a doubt, the IRS is no joke, and any mistake from you, your employee, or an unreliable tax preparer could land you into serious problems.

Is an accountant as thorough as a tax attorney?

Your accountant may not be as thorough and quick as a tax attorney. The tax attorney knows which legal position is best for you or your business and acts accordingly. Although their hourly rate might be a little more, the output is, undoubtedly, worth the cost. They understand the “whack-a-mole” response to IRS inquiries, where issues may escalate and create more problems for you in the future.

Is the tax law updated?

The tax laws are updated now and then, and it is almost impossible for the ordinary citizen to keep up with the new changes. On the upside, a tax attorney is well-versed in the tax policies and updated on new tax laws.

Can an accountant testify against you?

More often than not, the communications are disc losed, and your accountant or tax preparer might testify against you. This is because the accountant-client privilege is significantly limited and does not apply in tax preparations.

What is a Tax Attorney?

A tax attorney is a state-bar exam qualified lawyer specialized in the legal aspect of taxation. Having vast expertise in tax law, tax attorneys are your best option in dealing with any potential legal matters related to taxes. They can defend your case in tax lawsuits related to inheritance issues, charges of tax evasion, irregularities in tax payments, or withholding tax Withholding Tax Withholding tax is a part of the salary an employer withholds from an employee's compensation and pays to the legal authorities. It is treated as collateral imposed against the taxes an employee is liable to pay during a particular year. read more disputes, etc.

What is a CPA?

CPAs are licensed accounting professionals who have passed the AICPA-administered CPA exam. The American Institute for Certified Public Accountants (AICPA) coordinates with the National Association of State Boards of Accountancy (NASBA) to conduct this exam and issue the license.

Who can help with tax hikes?

Some experts suggest taking the help of a CPA or tax attorney in understanding the implication of the tax hike to shield against its impact.

How to Deal With an IRS Tax Audit?

When you are notified that you are selected for an IRS tax audit, you go blank, thinking about what should do next? It is actually very common with everyone, whether you are an honest taxpayer or your returns have some problems. It is merely a very challenging task for both individuals and business entities to deal with tax audits nicely.

Why Take the Assistance of a Tax Attorney?

Generally, when it is about a tax audit, you first look for an accountant or a CPA to get assistance to prepare financial records. Undoubtedly, an accountant and CPA have a vast knowledge of tax audits, but they are not specialized in tax audits. They don’t have mastery of how to deal with a tax auditor wisely.

Specialization

As mentioned in the above section, tax attorneys are specialized in dealing with all types of tax matters, including tax debts settlement and tax audit. They are law graduates and have several years of experience practicing law and taxation. They are well-versed in dealing with all types of complicated tax situations.

Expertise in Smartly Dealing With the IRS

For taxpayers, it is very tough to smartly answer all the questions IRS auditors asked during the auditing period. A single misleading answer can lead you to a big problem. Therefore, it is better to hire a tax attorney that can smartly handle your case in your interest. They have expertise in intelligently dealing with the IRS officers.

Reducing Penalties and Tax Liabilities

Tax liability is always a burden for all taxpayers. Everyone wants to get rid of tax liabilities as soon as possible because it increases every month. A tax attorney or tax law firm can help with the same. For instance, if your IRS tax audit does not favor you, you could face penalties, charges on back taxes, and even criminal charges.

1. Consider your personal motivations for the career

One of the best ways to answer this question is to consider your personal motivations for pursuing the career. Employers might take an interest in your personal story as it relates to your career because it's genuine and more personal than other interview answers.

2. Describe your career goals

It's helpful to include your career goals as part of your answer to this question to show an interviewer what you hope to achieve in the industry. Describe any goals you set when you first sought a career as a tax analyst, as well as future goals you have that the company can help you reach.

3. Include any fascination or interest in the career's perks or duties

You can explain what interests you about tax law, tax reformation or procedures, as well as your interest in the job perks. If the job offers a good salary, benefits and an opportunity to work at a good company, you can share these points with the interviewer.

4. Answer honestly and concisely

Answer your interviewer honestly and concisely to minimize confusion and highlight your interest in the specific position with their company. Honesty helps establish trust, which can help you form a connection with your future employer. If you're seeking the position because you want a higher salary, answer honestly.

Example 1

"I want to be a tax analyst because I think taxation is fascinating. I've always had a love for money and how it moves through businesses, the government and individual accounts. When I was in high school, I was the treasurer for our school gift shop and helped the school treasurer with tax forms.

Example 2

"I want to be a tax analyst because I've spent several years in the food service industry, and I'm not happy with my current position. It requires long hours and on-call shifts during weekends. I'm hoping that becoming a tax analyst offers me an opportunity for steady pay, a consistent schedule and a more slow-paced office environment.

Example 3

"I want to become a tax analyst because I want to contribute to the larger efforts of combating corporate corruption. It's my understanding that some companies avoid paying taxes to offer bonuses to executives and restrict employees' wages.