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The Importance of Having a Tax Attorney

Saturday, July 6, 2013

Tax laws are very complicated and it is easy to make a mistake on your taxes that could lead to serious consequences. This is why it makes sense to have a good tax lawyer on your side.

Tax attorneys specialize in issues related to taxes, they are experts of the Internal Revenue Code and administrative tax law, and they have an extensive knowledge of the tax code, as well as decisions in tax-related cases. Tax lawyers can provide a service to help clients and businesses pay as little taxes as possible. Tax attorneys prepare tax returns, but can also go far beyond the ability of an accountant in estate and financial planning issues with potential tax consequences. 

Having a tax attorney is important for two major reasons. The first is to help prevent tax problems. For businesses, tax lawyers serve to help structure an organization in a way that legally minimizes their tax obligations. For individuals, tax lawyers assist with creating trusts, wills or taking other steps that will affect the way their assets are taxed during their lifetime and upon their death. The second reason is for a tax attorney to represent taxpayer clients in disputes over taxes, such as an IRS tax dispute. 

It would be important to have a tax attorney for someone charged with tax evasion or some other tax related crime. A tax lawyer would be the best person to provide defense as a tax expert. Many times, when people are looking for tax help they will turn to an accountant. This may make sense, but there is one big disadvantage to using an accountant. The problem is that there is no privilege with accountants since they can be called to testify against you in court if the IRS decides to bring charges against you. 

This can be a real problem if your accountant knows that you have to done something that you shouldn't have. A tax lawyer on the other hand cannot be required to testify against you, which is an important consideration on one of the reasons that you should have a lawyer to help you deal with your taxes.