Tax attorneys provide invaluable help with the legal complexities involved with filing taxes, working through IRS cases and dealing with major debts. In addition, they may also assist with business tax issues and estate planning needs.

1. Tax Audits

An attorney can assist taxpayers when responding to IRS or state department investigations by negotiating directly with them to get your case before an official who can further resolve the matter than an individual representative could. This is especially useful in situations involving an IRS audit or state department probe.

Most IRS audits are relatively non-threatening and typically focus on one or two aspects of your return such as deductions or income levels. Random audits are the norm; however, occasionally people are selected for more serious field or office examination audits.

Once an audit has been completed, you will receive a letter from the IRS outlining their findings and any proposed changes to your return. If you disagree with their findings, there are various options available to you, including requesting a conference with an IRS manager or filing an appeal; please be aware that they have 60 days to assess any amounts they deem owed by you.

2. Tax Debt

Attorneys offer invaluable assistance when you have outstanding taxes that you cannot afford to pay, which is often why people seek them out instead of CPAs or EAs who specialize in tax resolution. Many lawyers specialize in helping their clients with debt relief solutions tailored specifically for your budget.

If you find yourself unable to pay your taxes, the Internal Revenue Service will send letters and may place levies against your property and garnish your wages. An attorney or service like the one listed below can work with the IRS to remove levies or negotiate an installment agreement to make paying back taxes more manageable for you.

Being represented by an experienced attorney can make all the difference when dealing with back issues or other serious federal and state problems. There’s always a solution out there and your attorney will help guide you towards it. Just as you wouldn’t buy or invest in just any car or company you saw for sale, don’t settle on hiring just any tax professional you come across; research your options thoroughly before choosing an experienced professional to avoid getting into trouble with the IRS.

3. Business Tax Issues

When dealing with business tax issues, it’s wise to consult a qualified attorney. Not only can these professionals hold law degrees from recognized schools but they have extensive knowledge of business financials – many also having backgrounds in accounting or finance – that will enable them to develop tax strategies tailored specifically for your company, advise on transactions that should take place, as well as represent you before IRS audits or tax disputes.

If you need an attorney, ask friends, family, and colleagues for recommendations. Read online reviews as well as websites listing attorneys’ credentials, client testimonials and experience with common tax issues. It would also be a good idea to inquire as to their billing structure–do they charge hourly or offer packages?

Your decision of whether to retain a CPA or attorney depends entirely upon your specific situation. CPAs tend to excel at handling routine tax preparation work while attorneys have more extensive legal backgrounds and licensure to address court-based matters. Although the differences may seem subtle, their effects can have profound impacts on how your case is managed and the outcomes obtained.

4. Tax Planning

Tax planning requires understanding how your deductions, credits and investments affect your taxes. Itemizing deductions could save more money over time than taking the standard deduction; however this decision alone should not define tax planning; professionals are available to provide guidance regarding tax implications of business transactions such as mergers and acquisitions.

Though both CPAs and attorneys can assist with various financial matters, selecting one depends on your unique situation and type of advice required. These attorneys tend to excel in handling legal proceedings such as dealing with the IRS or resolving tax disputes while CPAs have greater experience across all aspects of accounting so can offer more comprehensive financial advice.

They possess a bachelor’s degree in economics or an economically related field before attending law school to earn their Juris Doctor degree and then taking and passing the Bar exam for licensing as attorneys. Due to this rigorous educational background and licensing process, attorneys are uniquely equipped to manage legal matters surrounding taxes and the IRS.

5. Estate Planning

Many people invest more time and effort into planning for vacation or dining out than creating an estate plan, yet creating such an outline is one of the most crucial ways to protect assets and ensure those dependent on you receive what they require when needed most.

Without an estate plan in US law will dictate what happens to your finances and property if you become incapacitated or pass away – a process which may differ significantly from what would have been desired by yourself or anyone you love. A professional estate planner can assist in making informed choices and developing a personalized estate plan tailored specifically to you, saving time and money over time.

A thorough estate plan helps avoid disputes over how your assets should be divided (source: https://www.aarp.org/caregiving/financial-legal/info-2020/dividing-assets-between-siblings.html). A plan can designate which children or loved ones will inherit items such as jewelry, personal effects or cars as well as where funds should go – such as college savings accounts or funeral costs. Furthermore, having such a document in place gives your loved ones clarity as to your wishes being carried out after death.

At times, attorneys can be more useful than CPAs in estate planning as they have greater insight into law. An attorney may offer guidance as to the most efficient ways to structure your plan so as to reduce liabilities on behalf of loved ones. They can also advise you on strategies which might reduce inheritance and estate taxes such as trust formation or maximizing annual gift exclusions; and in case of disputes with the IRS they can negotiate on your behalf.