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When Do I Need A Tax Attorney?

Whenever people hear the words tax attorney, they tend to immediately think about a professional who can give them a hand with their taxes. However, it is vital to note that there is more to these professionals than meets the eyes. If you have never scratched beyond the surface, here is all you need to know about tax attorneys and what they can do for you.
Who Is A Tax Attorney?
In a layman language, a tax attorney is a legal professional who specializes in helping clients with issues that revolve around state and federal taxes. Most of the times, these attorneys often work with corporations, but you can also hire one for your business. Other than helping you file your taxes, here are several other instances that you may need a tax attorney.
As You Start Your Business
When starting a business, you often find yourself with a ton of responsibilities. Apart from finding the right business space, product suppliers, and marketing, you also have to decide what type of entity your business is going to be. Once you decide, you also have to deal with taxes.
For instance, if you choose to go the sole proprietorship way, you need to ensure you deal with the tax requirements. Dealing with all these requirements, singlehandedly can prove to be quite overwhelming. In such a situation, hiring a proficient tax attorney kansas city mo will make things easier for you. Based on your financial standing, the attorney will advise you on the best business structure to go for, and also help out with the tax paperwork, making things a tad easier.
When Issued With An IRS Audit
Even with clean records, the last thing you want to do is deal with the IRS. Unfortunately, audits and collection notices from the IRS are inevitable. Having a proficient tax attorney who you can turn to when the IRS comes knocking is therefore incredibly crucial as he/she will professionally negotiate a settlement that is fair to you with them.
In some instances, the IRS may have made a mistake while calculating the amount of taxes you owe them. As an average person who has no idea of the metrics used to calculate taxes, you may never discover such errors. A tax attorney is, therefore, a valuable asset as he/she boasts experience and is professionally trained to find out such mistakes and help save your business a lot of cash.
Keep You Updated
Every year, the IRS comes up with new tax rules which you are required to not only keep up with but also follow. As a business owner, you have so much to juggle. Additionally, chances are that you are not even proficient with the existing tax laws leave alone the new ones.
Tax attorneys, on the other hand, deal with taxes regularly. This means that unlike you, they are well versed with the existing, new, and potential tax laws and will keep you and your business updated, thus keeping you out of trouble.
Other than the above instances, you may also need a tax attorney when the IRS places criminal charges against you, when in need of someone to communicate with the IRS on your behalf or when you anticipate having a taxable estate. Therefore, ensure you hire an experienced one for such situations or any other that may come up along the way.