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4 Reasons You Need to Hire a Tax Attorney

— November 2, 2022

A tax lawyer can determine how much your business should pay in taxes and develop strategies for avoiding tax mistakes and unexpected tax bills.

Hiring a tax lawyer might seem unnecessary until you must fill out state taxes or deal with complex tax issues. Even the most straightforward financial situations may be daunting to navigate on your own; that’s why working with a tax attorney can be highly beneficial.

These lawyers can help you avoid tax issues and ensure you don’t worsen any existing concerns. They can also negotiate with the IRS to help you save time and stress. But when exactly do you need to hire a tax attorney? If you’re interested in knowing more about them, this article will teach you what a tax attorney does and potential scenarios needing an expert’s help.

What does a Tax Lawyer Do?

A tax lawyer can specialize in many areas and provide different services. Usually, their main job is guiding clients through complex tax issues, helping strategize transactions, overseeing tax legislation changes, and representing clients with penalties or tax issues.

If you’re going through a similar situation to the examples mentioned above, finding attorneys near you who can offer guidance and improve your case would be a good idea. That said, here are some services that your potential tax attorney might provide:

  • Help file out your taxes to save money
  • Inform you of pending tax legislation and how that might affect you
  • Help you create a tax-advantaged estate plan
  • Represent and advise you if facing an investigation, an audit, IRS penalties, etc.

Now that you have a clearer idea of what a tax attorney does, here are four examples you might need for hiring one.

Tax Debt with the IRS

Unpaid debt is always scary and intimidating to deal with. The IRS can be your biggest enemy by putting a lien on your home, garnishing your wages, or freezing some assets if you haven’t paid the balance due by the deadline.

For example, suppose you’re from Denver, Colorado. In that case, you can reach out to Semler & Associates P.C. – a team of litigation lawyers who can negotiate with the IRS on your behalf and assist you in developing a plan to improve your debt. If you fail to do so, you might face criminal charges. That’s one of the biggest reasons hiring a tax attorney is worth it.

Disputing a Tax Bill

Lawsuits Filed Against Detroit-area Tax Preparation Companies
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While you may be a careful person who keeps records, files taxes on time and consults with a CPA, you can still receive an unexpected tax bill. When that happens, a tax attorney can review your situation and determine where the error occurred while advising you on how to avoid it.

Suppose you get in touch with Experienced Denver Litigation Lawyers. In that case, you’ll expect a team of professionals who can represent you on your ‘fight’ with the IRS and develop a strategy for settling or paying off the deficit.

Making a Major Business Decision

The way you manage your manager can have a significant impact on your tax implications. And if you make a wrong decision, the consequences can be costly. However, a tax lawyer can determine how much your business should pay in taxes and develop strategies for avoiding tax mistakes and unexpected tax bills.

If you want a more practical way to speak with an attorney, you can set up a time to chat, and a tax lawyer will reach out to you and consult about any tax issues you might have.

Making an Investment

You never know when you might want to make a considerable investment. Whether it’s a small or large amount of money, you need to work with experienced tax attorneys to avoid unnecessary tax issues. These attorneys can guide you on how and where you can invest your funds and manage them as they grow.

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