Start today and get one month free.
Key Takeaways
- Tax attorneys are highly trained to resolve tax problems and represent clients in disagreements with the Internal Revenue Service.
- When to Hire: Be on the lookout for an IRS notice, tax levy, complex business tax issues, or international tax matters.
- Costs: It's easy to spend thousands on a tax attorney, but tax relief firms may have more reasonable pricing.
- Key considerations: One needs to consider the qualifications, experience, and clientele of a tax attorney.
A tax attorney is a lawyer who specializes in helping individuals and businesses with tax-related issues. Are tax attorneys worth it? Well, the services of a licensed tax attorney can help with a number of needs. This includes representing clients before the IRS in controversies and providing tax planning assistance to minimize liabilities. They are also skilled in handling complex tax problems such as audits, appeals, and negotiations.
When to hire a tax attorney
The following are instances when the services of a professional tax attorney would be useful:
- Receiving an Audit or IRS Notice: Getting an IRS notice or being selected for an audit can be intimidating. A tax attorney can interpret what the notice says, represent you in an audit, and ensure you have protection.
- Facing a Tax Levy or Lien: If the IRS has put a levy on your bank account or a lien on property due to failure to pay taxes, then an attorney can help lessen it with a tax payment plan or settlement. A tax attorney may also be helpful in a possible appeal of the levy or lien, which may eliminate the IRS's claim to the assets.
- Complex Business Tax Issues: Tax-related issues are familiar to businesses, including corporate tax issues, payroll tax problems, or other difficulties concerning sales taxes, but all require experts with particular knowledge. A tax attorney can help businesses sort out these issues efficiently and effectively.
- International Tax Matters: Businesses and individuals with international scope and operations are challenged about how to abide by tax laws across jurisdictions. With the right kind of international tax lawyer, compliance with complexities can be ensured in order to avoid levies due on taxes.
How much does it cost to hire a tax attorney?
The cost of tax lawyers will always vary depending on case intensity and, of course, the experience. Most cost from $200 to $400 per hour, along with an upfront retainer in some cases. Tax relief firms are an excellent alternative to getting represented without racking up high costs, as they will offer more pocket-friendly options for tax attorneys they usually employ.
Related reading: Pros and Cons of Hiring a Tax Professional
How to find the right tax attorney
Finding the right tax attorney requires one to do some homework. This includes asking for referrals from your accountant or other business owners. You can also search online directories and review sites for reputable tax lawyers in your area. It can also be quite helpful to consult more than one attorney. You should see a few attorneys to compare their services, experience, and fees. Also, if you want to get represented before the IRS, you can hire a tax relief company that has in-house tax attorneys working for them.
The following should be taken into consideration while deciding on a tax attorney:
- Qualifications: Be sure he/she has the proper educational background and certifications to practice as a tax lawyer.
- Experience: Get yourself an attorney who has gained patience with handling tax issues similar to yours.
- Client Testimonials: Read the reviews and testimonials from prior clients about the attorney's effectiveness and reliability.
- Communication: Go for an attorney who communicates well and shows interest in your requests.
How Bench can help your business when hiring a tax attorney
Before you retain the services of any tax attorney, your books need to be in order. Bench will help by providing comprehensive bookkeeping services, making sure the financials of your business are current and accurate. This clarity will help ensure ease of working through the process with a tax attorney and increase the likelihood of a ruling in your favor. This makes hiring a tax attorney a critical decision to guide one through tax complications and disputes, including those with the IRS. Therefore, knowing when to engage the services of a tax attorney, the cost, and other key considerations that go into selecting the right professional play a key role in guiding your choice toward ensuring your financial interests are safe.
