Why Hire A Tax Attorney?

Complex Tax Information Made Simple

Many people will at some point in their lives run into a tax problem that requires a higher level of expertise and confidentiality than a certified public accountant (CPA) can provide. How do you know if you’ve reached that point?

Receiving a letter from the IRS can be daunting, but doesn’t always require the assistance of a tax attorney. For instance, if you made a simple mistake on last year’s tax returns and you understand the information being requested, then you can probably navigate the issue on your own.

However, there are many circumstances which call for—and indeed almost require—the help of an experienced tax attorney.

These include:

1. You want to prioritize the privacy of your information. Depending on the issue at hand, you may need to share information with a person who legally cannot be called to testify against you in court.Due to attorney-client privilege, any conversations or documents you share with your tax attorney can be kept confidential. In this role, your tax attorney will truly be your confidant, and you won’t have to screen the information you provide to them, nor worry about how it could be used against you.

   If you were to hire a CPA, this level of confidentiality simply wouldn’t be available to you. As a result, the instruction you receive could be compromised by an incomplete picture of the circumstances which led you to seek help in the first place.

2. You are facing a complex tax law issue that only an experienced tax law attorney is competent to handle properly. Tax law attorneys receive a comprehensive, high level of training, which covers technical aspects of IRS tax code and tax law that most CPAs aren’t prepared to tackle.

3. You are building a business, or selling a business. If you are thinking about building or selling a business, or are already in the process of doing so, it’s a good time to contact an experienced tax attorney. At this point in your life, dealing with taxes is probably last on your list, or at least last on the list of things you want to do. A tax attorney can simplify the process for you, provide you with the information you need in order to make wise decisions for yourself, and take the burden off of your shoulders so that you can focus more on what matters to you.If you are starting a business, you will want to have a thorough understanding of the tax implications of your chosen business entity. If you aren’t sure which type of business entity to choose, a tax attorney can provide with you with the knowledge necessary to decide.

   Starting a business is a big endeavor that likely means a lot to you, and making a misguided decision or error can completely derail your business dreams. With such a large investment, most entrepreneurs realize that they can’t afford to not hire top-tier legal counsel.

   If you are selling a business, there are several strategies to choose from. However, choosing the best strategy for your situation is not an easy decision, especially if you aren’t well-equipped with the amount of technical knowledge necessary. This is when a seasoned tax attorney becomes indispensable.

4. You have a lot of assets, and you’re worried about estate tax. If your estate holds significant value and you don’t want it to end up in the hands of the federal government, then you need to be aware of the IRS minimum value threshold, and know how to stay below it.A tax lawyer can help you plan in a way that allows you to pass on your assets to your loved ones without also passing on significant tax consequences. In the hands of the right tax attorney, your assets will be protected from the IRS to the greatest extent possible.

5. The IRS is claiming that you owe them money. Whether you agree on the amount you owe, or believe there has been a mistake, a tax attorney is one of the only professionals who can help you deal with the pressure of the IRS on your back. This might include initiating the appeals process with the IRS, negotiating with the IRS for a reduced amount owed, or establishing a payment plan that works with your budget.

6. You’re being audited. An IRS audit is never welcome. In fact, they will almost always cause you significant stress, require more time than you have to give, and put you at risk of owing a lot of money to the IRS.One of the keys to dealing with an IRS audit is to simply deal with it properly and timely. Errors and delays in the process will only lead to additional problems. To ensure that your audit is dealt with as quickly and thoroughly as possible, the first step is to hire a competent tax attorney.

7. You need your rights protected while navigating a tax-related legal matter. What could be worse than an IRS audit, or a letter saying that you owe the IRS money? Being investigated by the IRS for a tax-related crime, such as tax fraud.The IRS might be claiming that you used someone else’s name on your tax return, wrongfully claimed deductions, or failed to report the true amount of income. Whatever it is, you need legal representation by your side to ensure that your rights are protected, and that you are not run into the ground by the endless amount of resources at the IRS’s disposal.

   Having a tax attorney by your side—one who has a solid reputation in their field—is essential when facing potential criminal charges related to taxes.

Tax Attorney In Round Rock, TX

Attorney Gerald Winters is unlike most attorneys, especially when it comes to tax law. This is because prior to becoming an attorney, he ran a business as a CPA, and has over 20 years of experience in financial management, tax law, and business consulting.

Don’t wait any longer to tackle your tax issue. Call estate planning attorney Gerald Winters at (512) 529-9085.