According to the IRS, in 2018, about 155 million individual taxpayer returns were processed. Preparing your tax returns can be difficult without training, and from time to time, things can go wrong. You can end up dealing with years of unfiled returns. While it may seem easier just to hire an accountant to correct things for you, you’re better off hiring a tax attorney for this. Here are some situations where you may need a tax attorney.
Setting Up a New Business
Establishing a new business can be a bit complicated. One of the things you have to do is ensure that the business is incorporated correctly. Apart from that, you also need to handle a lot of paperwork. This is a complicated process that can take a lot of time. Even if you’re taking over an existing business and changing its name, you will still need to jump through several hoops. Instead of stressing yourself, it makes sense to just hire a tax attorney. They can assist with every step of this process. Tax attorneys have a lot of experience setting up businesses, so they are your best chance to get things right the first time.
Estate Planning
This is another process that can quickly get complicated. Whether you want to put your money into several trusts for your loved ones or worry about your kids having to deal with expensive estate taxes, an experienced tax attorney can help. They’ll ensure that all the paperwork is handled correctly. In general, they can get your estate into order. A tax attorney can also help you set up a trust and to choose the trustees who will oversee your funds. Even if you want to set up a nonprofit, you can get advice on how to go about things properly from a tax attorney.
IRS Wage Garnishments and Tax Liens
One of the most stressful things you can ever go through is finding out that the IRS will start placing liens on your property and garnishing your wages. This usually happens when you ignore every notice they sent you regarding back taxes. Did you know that the IRS can even file criminal charges against you if you owe them lots of money? If this is the case, you might consider hiring a tax attorney. They are the best person to consult if you want to minimize the repercussions of your actions. The tax attorney can reach out to the IRS and help you establish a lump sum payment or payment plan to stop them from placing liens on your property.
It’s important to work with a tax attorney if you’re having tax problems or if you need assistance with something that falls on their list of services. However, for you to get the best results, it’s important to find a reliable tax attorney. Get in touch with our team today for the best tax services.