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Typical Indicators You Need A Tax Attorney

By Riley Goff on November 9, 2022January 2, 2023

The need for a tax attorney is often essential in the taxation and financial industry. While everyone’s financial situation is unique and complex, some common indicators signal it’s time to seek the assistance of a tax attorney:

1. You are facing an IRS audit:

Audits can be intimidating and overwhelming, and the IRS can relentlessly pursue its claims. IRS audit defense requires technical knowledge of the tax code and laws and experience in interacting with the IRS. Organization and documentation are key to a successful audit defense. With a skilled tax attorney at your side, you will have a knowledgeable and experienced ally helping to protect your financial interests.

2. You’re Leaving Money to An Heir:

Leaving money to an heir can be complicated, even if you are not a high-net-worth individual. If your estate is large enough, estate taxes and inheritance tax may be due. A qualified tax attorney can help you set up your estate in a way that minimizes the amount of taxes due and maximizes the amount of money that goes to your heir. A tax attorney is also helpful in ensuring that the inheritance will be distributed according to your desires.

3. You are Filing an Offer in Compromise:

Filing an offer in compromise (OIC) can greatly reduce your tax debt and get back on track with the IRS. However, it takes careful preparation and understanding of the tax laws to submit a successful OIC. To present your offer in the best light, having a qualified tax attorney by your side throughout the process makes a world of difference in getting the IRS to accept your offer.

4. You are Starting a New Business:

A new business venture brings with it various tax issues, such as determining the best business structure and registering with the IRS. What type of taxes will you owe? Will you need to register for sales tax? How will you handle payroll taxes? A qualified tax attorney can provide the guidance and advice you need to make informed decisions that are in the best interest of your business.

5. You are Dealing with Tax Penalties:

Tax penalties can add up quickly, making it hard to get back on your feet after an IRS misstep. If you have unpaid taxes, it can be helpful to seek advice from a tax attorney to understand all of your options for handling the debt, such as a payment plan or an offer in compromise. A qualified tax attorney can also advise you on the best course of action if you’re facing criminal tax charges.

When faced with any of these circumstances, it’s important to seek help from an experienced tax attorney. At Hillhurst Tax Group, we understand the complexity of taxation and financial law and know how to navigate the system to get you the best outcome possible. Visit our website hillhursttaxgroup.com or give us a call for more information about how we can help you.

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