4 Solid Reasons to Hire a Tax Attorney
1) To avoid Risks
Risk taking and adventures are good as far as there are no chances of getting financially or physically damaged in consequences of miscalculations. Unfortunately, we cannot take risks as far as the taxation and financial matters are concerned. A single blunder can turn into a huge setback. The potential of risk is very high, and thus, you should avoid it at any cost. The cost that you have to pay for the hiring of a tax attorney is so little, speaking relatively. We have seen several individuals losing a lot of money just because of their “miscalculations” and an incapacity of anticipating the consequences. Don’t bother about the money that you will spend on purchasing a professional's services. At the end of the day, the money that you are spending today will help you in saving money, honor and status.
2) To Enjoy Representation
Yes! The right of representation is something that is fabulous for taxpayers. It is the ninth point on the IRS's Taxpayer Bill of Rights, and they used to call it as, “The Right to Retain Representation.” In simplest terms it means that a taxpayer is fully allowed to assign and retain an authorized representative to deal with the IRS on his or her behalf. However, an Enrolled agent, a CPA / Accountant or any other person with qualifications lesser than a tax attorney cannot enjoy the right of full and independent representation. We have called it fabulous provisions for the taxpayers, and those who ever had have gone through any such proceeding know what does we mean.
3) To Save Money
Speaking a qualified tax attorney can bring significant tax savings for you. In fact, there is a class of lawyers who are working in this field only. Their remuneration usually is decided by the total money that they manage to save for clients. You can also find the attorney who will take up your case without taking any upfront money as they will work for a predefined percentage of the total recovered amount. So, in case if you are the one who is willing to pay less and to save more then you don’t have any other choice but to go with a tax attorney
4) Settle Debts
Tax debts are a nightmare. We suggest our readers that they should never consider it to be an option at all. Tax debts are bad as they attract fines and interest. In fact, the IRS don’t like those who don’t keep their tax related matters straightforward. However, in case if you already are the one who owe money to the IRS than don’t worry as you still have some options available. The IRS website is full of the necessary information, and you can learn there, more about payment plans and “offer in compromise” the two top options that people usually prefer to have their debt settled. Remember, the IRS handles each case as an isolated one, and there is nothing like, “general” there. It is the ability of your tax attorney that can help you in negotiating and having finalized a balanced deal.