Unless you’ve dealt with tax issues in the past, you might not understand the importance of having the help of a tax attorney. The IRS is no laughing matter and they don’t play around when it comes to getting the money owed to them.
If you can help it, you most likely want to avoid the fees of hiring an attorney, but there are times when you need to hire a tax attorney. Continue reading this article to find out what a tax attorney can do for you and when you should hire one.
IRS Penalties, Interest & Possible Jail Time
As you’re learning information about IRS audits and other actions the IRS takes, it can be a very scary thing. The thought of going to jail over not being able to pay the IRS is real.
Could a tax attorney be the answer to your problems? Let’s find out.
1. Confusing Laws
Unless you are a tax attorney, you likely won’t have a full working knowledge of tax law. Many people don’t even know the basics and you may not be sure why you’re going through this trouble.
If you are confused about how you got to where you are now and what you should do about it, speaking with a tax attorney can clear things up. Just knowing what is going on and why it is going on can help you to start seeing the light at the end of the tunnel.
2. Get Help Making Important Decisions
As you’re dealing with the IRS, you’re going to have some decisions to make. Even if you have help from a CPA, they won’t have as good of an understanding of what you should do as a tax attorney.
Tax laws are always changing and tax attorneys will continue to educate themselves on the latest and most important parts of tax laws and codes. There may be programs in place to help you pay down your tax debt that you don’t even know about but your attorney can help you.
3. Keep from Being Bullied
If you feel like the IRS is bullying you, a tax attorney can help. A tax attorney knows what the IRS can do legally and how good or bad your situation is. Without the help of a tax attorney, you might feel like it’s you against “the big guy.”
4. Stay Out of Jail
It’s possible that you could come up against jail time if you don’t deal with this situation properly. To stay out of jail, speak with your tax attorney and find out what you need to do to stay within the law and out of jail.
The IRS doesn’t want to put you in jail and if you’re making an appropriate effort, they are more than happy if you stay out of jail, so they don’t have to pay for your stay.
5. Possibility to Pay Less
When you work with a tax attorney, you may be able to pay less than your initial bill. It is likely that you’ve gotten some fees and interest on your initial amount of debt. Your tax attorney may be able to negotiate and get the amount of money you owe decreased by negotiating it in your offer in compromise.
While the mountain of tax debt you’re looking at might seem overwhelming, if you can get it decreased, it will take a weight off your shoulders.
6. Save Time
If you try to take care of your tax problems on your own, this can take up a lot of time. When you have a full-time job, you might not have enough time to take care of your case on your own properly.
Not only will you have to make decisions on your own, but you’ll have to study the tax laws and try to figure out the best course of action. If you’re working with a tax attorney, that isn’t going to be a concern because they will be doing what they’re good at, while you’re taking care of the rest of your life.
7. Peace of Mind
Stress can cause you to feel sick and to have other problems in your life. When you hire a tax attorney, you don’t have to let the IRS and tax problems ruin your life. Give yourself peace of mind by working with a highly knowledgeable tax attorney.
Choosing the Best Attorney for You
You shouldn’t work with just any tax attorney. While some help is better than no help at all, there’s no use wasting money on an attorney that isn’t going to help you get the results you want.
Before you hire anyone, find out how long they’ve been in business and how many people they’ve helped. You don’t want to work with someone with no experience and chance not getting the best settlement possible.
Don’t interview only one tax attorney. Having an idea of the options available to you will help you make a better choice when you’re hiring a tax attorney.
Make sure the attorney you’re speaking with doesn’t ask for all of your money upfront. It is normal that an attorney will require a retainer, but you should be able to pay some of the money you owe them during and after the case is over.
Get Help from a Tax Attorney
Unless you are a tax attorney, you likely won’t have a full working knowledge of tax law . Many people don’t even know the basics (although online tax tools can help) and you may not be sure why you’re going through this trouble.
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