When you’re facing a serious tax debt or wage garnishment or attempting to minimize the amount of back taxes you owe, it’s imperative to immediately consult a Florida tax lawyer to ensure that you have selected the right professional for your circumstances. Tax issues may arise at any time. For example, the Internal Revenue Service may seize your business assets because you owe too much in taxes. An audit may be coming up when you need to file a state income tax return. In addition, you may be assessed with tax penalty, or even levy, by the local, state, or federal tax authorities for non-payment of federal income taxes. If you don’t know what to do in any of these situations, seeking the help of a Florida tax attorney would be a good idea.
A qualified Florida tax attorney can thoroughly discuss all the pertinent issues involved in resolving your tax problem. Your attorney can then decide whether or not to go forward with pursuing an audit, wage garnishment, or other resolution. Your attorney can also advise you on how to deal with the IRS while they conduct their investigation. An experienced attorney can review your situation and make suggestions about the best course of action to take in light of your individual circumstances. In many cases, an attorney can negotiate a waiver for you so that you don’t have to pay the money you may owe, while simultaneously saving you from the embarrassing and stressful tax investigations that can ensue.
Some people hire tax attorneys and accountants simply because they are concerned about how their future tax statements will look. Estate planning is a very popular reason for using this kind of legal counsel. Estate planning involves making sure that your money is appropriately allocated on your death. An estate attorney can help you with setting up an estate plan so that you avoid probate and pay state and/or federal taxes at your own funeral. Tax attorneys can also represent you in court if the IRS insists on collecting a debt from you in the event of your death.
When looking for a tax attorney or accountant, you should take into consideration their years of experience dealing with all kinds of tax situations. You need someone who can explain to you what you owe and what you can do to legally resolve it. Experienced tax attorneys and accountants are familiar with all of the current laws regarding taxes, and most can prepare your taxes accurately and in a timely manner. They can also create a plan for managing your debts in the event that you become severely injured or ill. When working with a tax attorney or accountant, you should get as much information as possible about any state or local taxes that might apply to you, including: which party is responsible for those taxes, when they were imposed, how much they’re assessed against you, what deductions you’re eligible for, etc. In addition, tax attorneys and accountants can help you deal with the Internal Revenue Service.
Many tax attorneys are former government tax agents, either with the IRS or other federal or state tax agencies. They understand the administrative side of running a business but don’t have any firsthand experience dealing with the criminal tax code. Because of this, they usually charge more money for their services than accountants, but they provide an invaluable service in terms of preparing your financial records and responding to the IRS with respect to your tax situation. Many accountants only work with individuals and families, while tax attorneys work on behalf of businesses and corporations. If you’re being audited by the IRS, a tax attorney may even be able to negotiate a good deal for you because he or she has often dealt with the IRS in the past. Tax lawyers also can help you get past problems with the IRS like payroll tax problems, audit reminders, and other circumstances that might arise.
The majority of tax attorneys and accountants work solely on a contingency basis, meaning that they only receive a percentage of any money that you’re awarded after winning your case. This means that in many instances, they will not charge you a single penny unless the case is successful and they recover their fee. This is very different from the fees charged by most certified public accountants, who can bill you hundreds of dollars per hour for the preparation and review of your tax documents. Attorneys do not have to worry about such mundane issues as hourly fees because they only receive a portion of the total amount you’re owed. Regardless of which option you choose, hiring a tax attorney is often the best choice when dealing with the IRS.