Taxes may be an inevitability, however the issues that arise as a result of unpaid or underpaid taxes, needn’t be. In today’s DIY climate, with a plethora of online discourse on many legal topics, it’s tempting to consider a tax attorney a redundant figure, especially if you already engage the services of an accountant, a bookkeeper, or both. Whilst maintaining accurate bookkeeping and accounting practices is essential, there are some situations in business, and in life, where only a tax resolution lawyer can provide competent defense. Let’s consider how and when you may want to engage the services of a tax attorney.
CPA Vs Tax Attorney
Unlike a CPA, who has training in handling all the financial aspects of taxation, including accounting, bookkeeping, and auditing, a tax attorney, is schooled in all the legal aspects of taxation. Tax lawyers have achieved state-bar exam qualifications and are authorized to advice and represent you in mediation and litigation relating to all manner of tax disputes. Taxation attorneys work across a wide range of key areas, including audits and appeals, compliance, corporate tax, employee benefits, estate planning, international tax law, mergers and acquisitions, real estate, and tax- exempt organizations.
Unsettling IRS issues
As an individual or small business owner, one of the more common reasons for enlisting the services of a tax law firm, is in resolving IRS or other tax organization related, issues. If you owe monies to the IRS, have received a notice of audit, owe taxes in excess of $10,000 and wish to establish a payment plan, have been red flagged, or are being investigated, a tax attorney is your strongest possible ally. They can also advise on potential liabilities, penalties, and possible resolutions if you believe you have committed tax fraud.
Complex Codes and Taxing Tactics
The complex and evolving set of tax codes varies from state to state, and intrastate, changes year on year. California is often recognized as having some of the country’s most complicated taxation laws, highest tax rates, as well as three of the harshest tax organizations, the CDTFA, the FTB, and the EDD. Collection agents working for the state of California have also come under scrutiny for their often-ruthless approach in attempting to retrieve monies owed, as well as imposing further penalties and the immediate accumulation of interest. Tax attorneys are experienced in dealing with collection agencies and organizations and are your best possible ally in alleviating any associated financial, and emotional, stress. Search for a trusted advocate in a tax attorney San Diego and account for any potential tax issues today.