An IRS tax auditor may be awaiting you. A tax attorney will help you set up estate planning. These professionals are graduates of college with Bachelor’s degrees, Juris doctorates, and advanced degrees in accounting. They can handle all legal matters about IRS, including removing liens and garnishments from your wages. A CPA and tax attorney might not seem to be related but an Oklahoma tax attorney is a highly-trained professional who can assist with legal matters. Is it possible to find out why you might need a professional tax attorney? Let’s examine the top five.
Why You Should Hire A Tax Lawyer?
As you can see, a tax lawyer can handle many different issues than a CPA. There are many reasons you would need a tax professional to help you. These are five key reasons why you need one.
1) Your Tax Returns Are Late
Are you tired of dealing with years-old tax returns that are still unfiled? A tax attorney is a better choice than a personal accountant who can help you fill them out and send them off. They can help you negotiate with the IRS for those returns to be sent in and processed. They will not have to represent you in front of the IRS, which can be nerve-wracking, especially if they owe you several years’ worth of unpaid taxes. The IRS knows that you are important and will have your back. Having a tax lawyer represent you makes it easier for you and the IRS to communicate. It will make stressful situations a bit easier.
2) You Want To Open A New Company
Setting up a new company is much more complicated than you may realize. The business must be properly incorporated (there are four options: a solo proprietorship, partnership, or S-corporation), as well as handle all paperwork. You also need to apply for an EIN, set up bank accounts, and manage the paperwork. Even if you buy an existing company and want to rebrand it as your own, this process is complex. An experienced tax attorney will be able to assist you with every stage of this process. They have many years of experience in business planning.
3) Help Is Needed With Estate Planning
Estate planning can be confusing. A tax lawyer can help you to plan your estate. They can take care of all of the paperwork so that you have a well-organized estate. They can help with trust creation and help you choose the most qualified trustees to oversee your funds. A tax lawyer can help you to set up a nonprofit and disburse your funds. They are familiar with all aspects of estate planning and can help you make the process of succession planning as smooth as possible. They are also available to help you with questions or concerns about your estate, as well as the process of setting it up.
4) IRS Wage Garnishments, Tax Liens
There are few worse things than finding out that your wages will be garnished and tax liens placed on your property by the IRS. The IRS has been playing hardball since you ignored all of their notices regarding back taxes that are owed to them. The IRS may file criminal charges against some people if they find out that you owe the IRS enough money. If this is the situation, or if they are garnishing your wages or putting liens on your property, then you will need a tax attorney. Your tax attorney can reach out and communicate with the IRS. They can also help to arrange a payment plan. The IRS will work alongside you and your tax lawyer to find a solution as long your agreement is followed.
5) You’re Undergoing An IRS Tax Audit
IRS tax audits may be stressful. This could include the IRS visiting your place of business, or you send your financial records to them. Help from a tax attorney is a great help. A tax attorney will communicate directly with the IRS to ensure you have all necessary records. They can also help you submit the records for review. Your tax attorney is a contact person who can assist you in any way the IRS requires. A tax attorney can help you if you are charged back taxes.