These lawyers (and the tax relief firms that frequently use them) can also help you design an installment plan to pay off your debt. Having a proactive IRS tax lawyer on your side during the negotiation and settlement process can help you avoid lawsuit and garnishment.
If you want to contest a tax bill, even if you keep meticulous records, work with a CPA, and file your taxes on time, you may get audited or receive an unexpected tax charge. In this circumstance, an IRS tax attorney can help clarify the problem, pinpoint the source of the error, and advise you on how to avoid it in the future.
A tax attorney can also defend you if you decide to fight the IRS or develop a plan for repaying or resolving the deficit. If you’re considering a significant business choice, from genesis to day-to-day operations, the way you establish and conduct your business can have significant tax ramifications.
And poor decisions can be costly. A tax attorney can provide assistance, assist you in determining how much your firm may anticipate to pay in taxes, and advise you on tax-cutting methods, which can help you avoid costly mistakes and unexpected tax payments while taking advantage of specific regulations and tax rules.
If you are making a significant investment, whether it’s an inheritance, lottery winnings, or selling appreciated stock options, you may wish to make a large investment at some point. When it comes to huge sums of money, however, it’s critical to make the correct investment(s) in the right accounts to prevent excessive tax repercussions.
A tax attorney can advise you on the best places to invest your money and how to manage its growth over time. If you have a sizable estate, working with a tax attorney if you have a big estate that will be handed on to your loved ones will assist ensure that taxes do not swallow a considerable percentage of its worth.
A tax expert can advise you on alternatives for reducing estate and inheritance taxes, such as establishing a family trust or maximizing annual gift exclusions for your loved ones now.