Why a Specialized Tax Lawyer is Key in Resolving Your IRS Tax Controversy

Dealing with the IRS is a scary subject for many taxpayers. We’ve all heard horror stories about unexpected audits and high interest that starts to accrue the moment you underpay. Understanding dense tax codes is a burden for individuals and businesses alike. Since it’s so easy to make mistakes when filing taxes, compliance can become a time-consuming endeavor.

Instead of trying to navigate the waters yourself, relying on a tax attorney’s indispensable expertise is better. A tax attorney can help you understand the voluminous tax codes and help you navigate audits with confidence and strategic insight. Whether it be an audit, estate planning, or full-on litigation, a tax attorney could be your greatest ally. Read on to understand some of the top problems taxpayers face and how you can avoid getting into hot water with the IRS.

Understanding IRS Tax Issues

Common IRS Tax Problems Faced by Individuals and Businesses

IRS tax problems can trap unsuspecting taxpayers in a web of horrors. The heart of these challenges is the intricate tax code, which even the savviest of people can need help understanding. Here are some common hurdles to be on the look-out for:

Premature filing: Filing too early can lead to problems, especially if you don’t have all the necessary paperwork.
Incorrect SSN: This one’s easy to avoid. Triple-check the Social Security Number and make sure it matches the one on your tax form.
Typos: Believe it or not, people run into trouble by misspelling their own names. Make sure the name on the tax return matches the one that’s on your Social Security Card.
Math errors: This is where the professionals come in. Simple math errors can lead the IRS to believe you are intentionally underreporting income. You also don’t want to overpay because your calculations weren’t quite right.
Unsigned forms: Valid tax returns must be signed. If you’re filing jointly, both spouses must sign.
Underreporting: This one goes without saying. Underreporting leads to audits and penalties that accrue immediately. Avoid this pitfall altogether by being upfront with your earnings.
Misunderstandings: The tax code is easy to misinterpret. Always consult with a professional when you need help.

Awareness of these common reduces your chances of running into trouble with the IRS. When tax issues do arise, get in touch with a tax attorney. They can offer strategic advice and help correct past mistakes.

The Impact of Tax Issues on Financial Well-being

Tax problems can have a lasting impact on your financial well-being. Not paying your taxes can lower your credit score and lead to your assets being seized by the government. In drastic cases, tax troubles can lead to severe legal punishment, including prison. Many people do not file their taxes because they owe money and face financial hardship. This is always a mistake. Even if you can’t pay your tax debt immediately, the IRS may offer installment plans to ease the financial burden. Tax troubles hit close to home, affecting the ones you care most about. It’s better to face the music than to have the IRS come knocking when you least expect it.

Why Specialized Tax Attorneys are Crucial

Expertise in Tax Law and IRS Procedures

Tax attorneys are valuable because they understand tax law and IRS procedures. More importantly, they’ve likely dealt with situations similar to yours and have practical experience putting their knowledge to work. Tax attorneys know where to look in the tax code to find the answers you need. If the code isn’t in your favor, they will offer advice on how to best approach the situation and mitigate your risk along the way. That’s a win-win.

Access to Up-to-date Information and Strategies

Tax laws are constantly changing. Tax attorneys keep up-to-date on current changes so they can leverage them to their client’s advantage. This up-to-date knowledge is crucial for resolving tax issues favorably and can be instrumental in preventing future tax problems. Imagine spending time understanding a portion of the tax code, only to find out that section is old news. Consulting with a Tax attorney is a surefire way to keep you in the loop with the newest changes.

The Role of a Tax Lawyer in Resolving Tax Issues

Navigating Audits and Disputes with the IRS

Tax attorneys understand federal and state tax laws. They can help you understand your legal issues by breaking them down in everyday language. Then, they can offer customized advice tailored to your unique situation. When it comes to audits and disputes with the IRS, a skilled Tax attorney knows what information to use to present your case in the best possible light. They’ll help you understand what triggers an audit, how far in the past the IRS can reach, and what consequences you’re facing. While this process can be intimidating, a Tax Attorney will be in your corner, fighting for you at every step.

Negotiating Settlements and Payment Plans

Negotiating with tax authorities is an artful skill. By leveraging the amount of money you have on hand, a Tax attorney can negotiate a lump sum payment followed by monthly installments. The best tax attorneys know what factors make a difference in terms of the installment plans you are eligible for. If an installment plan isn’t the right option for you, an experienced tax attorney may negotiate an offer in compromise. In this situation, the IRS agrees to clear your entire debt in exchange for the amount you can pay. You’ll need an attorney’s expertise to assemble the evidence needed to make your case.

Preventing Future Tax Problems

Tax attorneys provide guidance to prevent future tax problems. It’s a good idea to stay in touch with your tax attorney even if you aren’t in immediate trouble. They’ll advise you on any questions you have so you can avoid getting yourself into a sticky situation in the first place.

Choosing the Right Tax Attorney

Qualifications and Experience to Look For

Qualifications and experience are paramount when choosing a tax attorney. Attorneys who specialize in tax law and have a strong track record of customer satisfaction are usually the best options. They should be experienced in various tax services. Tax preparation, filing, litigation, and negotiation are some services to ask about. Having an attorney who can help you with all aspects of the tax process prevents you from having to reach out to various professionals each tax season. It can also help you keep your expenses down, too.

Questions to Ask During the Consultation

Choosing the right tax attorney is just as important of a decision as choosing to seek an attorney at all. Asking the right questions at your initial consultation makes all the difference. Some questions to keep in mind are:

Have you been involved with similar cases?
What is your negotiation style like, and how successful have you been in prior negotiations?
Can you help me prevent future tax difficulties?
Do you work with other professionals?

These questions will help you understand the attorney is a good match for you. The right professional makes all the difference in protecting your financial well-being.

How a Tax Attorney Can Save You Money

Identifying Potential Deductions and Credits

Tax attorneys will identify potential deductions and credits that you might otherwise overlook. Tax attorneys can advise on tax-saving strategies that are consistent with the current legal landscape, ensuring you stay in compliance with the law while saving as much of your hard-earned money as possible.

Avoiding Costly Penalties and Interest

Taxes are high enough without costly penalties and interest. By using a tax attorney to keep you in good standing with the law, you avoid added penalties. If you’re already facing penalties, there’s some good news. A tax attorney will negotiate with tax authorities to make these costs as manageable as possible.

Getting Started with a Tax Attorney

Preparing for Your First Meeting

One of the best things you could do at an initial consultation is come prepared. This includes bringing all the financial documents you think are relevant. If you aren’t sure what to bring, ask! Some relevant documents include previous tax returns and notices from tax authorities. Additionally, try to have a clear understanding of your financial situation. Knowing what questions to ask and your ultimate goal will help make your first meeting with your tax attorney valuable.

What to Expect from the Attorney-Client Relationship

Expect your tax attorney to listen closely to your concerns. After understanding your situation, they should represent your interests zealously. The attorney-client privilege means you can discuss your financial situation openly without fear that your financial problems will be disclosed to anyone else. Over time, your attorney will serve as a trusted advisor for tax planning and maybe even a friend.

Conclusion

Whether you’re facing an audit or just looking to maximize tax savings, a tax attorney is here to help. Consulting with a tax attorney is the best step toward resolving tax issues and protecting your financial well-being.

If you’re ready to take control of your tax situation, consult with a specialized tax attorney today. Their expertise can serve as a sword and shield by unlocking tax savings and protecting you during legal battles.

At Aventus Law Group, our tax attorneys have extensive experience handling all aspects of IRS and state tax authority issues. Our lead tax attorney is a Florida Bar Board Certified Tax Attorney and a Certified Public Accountant. Less than 5% of all attorneys licensed to practice law in Florida are board certified.

Should you need to discuss your tax situation please feel free to contact us to schedule a consultation at info@aventuslawgroup.com or 321-250-3577.