The Internal Revenue Service (IRS) is the most dreaded federal agency in the United States. Some folks are more afraid of the IRS than they are of the FBI or CIA. You’ll need much support to take on this federal agency alone. Though you may hear it recommended that you hire a CPA, doing so could prove to be a wrong move for a variety of reasons. You should hire a tax law attorney, in reality.
The benefits of working with a tax law attorney are considerable.
To begin with, if you’re in trouble with the Internal Revenue Service, you or your existing accountant have failed miserably at handling your funds. If this is the case, it is too late to bring in a new CPA to help you out of your jam. It would be wasteful to pay someone else to conduct the math that the IRS has already done. Pay attention to the things for which you still need to get ready. Finding a good tax law attorney to help you out is essential.
Also, there’s the problem of maintaining privacy between lawyers and their clients. A tax law attorney is protected from having to disclose client confidences to a court, but a CPA must comply with subpoenas seeking information about their client’s financial affairs. Keep in mind that this privacy is often crucial in court.
Tax law attorney Vs Certified Public Accountant
Attorneys specializing in tax law have another leg up on accountants thanks to their familiarity with the gray areas of tax law. Certified Public Accountant sees the world in binary terms based on their training. Because of this, they learn to classify things very specifically and may miss the nuance in tax law. An experienced tax law attorney can leverage the fact that there are multiple correct ways to interpret the law to your benefit.
If you need assistance, a tax law attorney can provide comprehensive guidance. This is due to their extensive knowledge of tax regulations. In the event that you are having trouble with taxes, it is recommended that you see a tax law professional for guidance on possible legal options. If you’re having tax issues, a CPA can only help you with budgeting and tax preparation, but not much else.
On the other hand, a tax law professional can advise you of your legal options for avoiding IRS scrutiny. If you have a qualified tax law expert on your side, you may be able to reach a settlement with the IRS for a significantly lower amount than you originally owed.
The Internal Revenue Service (IRS) has a variety of tactics at its disposal to coerce you into paying the debt they say you have. Many people who aren’t familiar with the IRS’s procedures pay it without thinking about it. You can face the IRS head-on with the support of a competent tax law attorney.
An experienced tax law attorney can help you deal with the IRS in a way that prevents you from feeling threatened or coerced into paying what you owe.
The fact that taxation is founded on rules and regulations is the best justification for working with a tax lawyer. Consequently, tax law is where tax attorneys typically practice. They have learned to adapt to it and thrive in it.