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A tax attorney OKC is an expert in tax policies and laws. Tax attorneys may provide a variety of services to their clients, such as the preparation and filing of taxes.
Although it’s possible for taxpayers to manage personal income taxes quite easily, there are instances when a tax professional is needed.
Sometimes taxpayers make errors and have trouble correcting them. Sometimes they make the mistake more serious by not taking action. Others rely on their CPAs or tax preparers to save them from trouble. This is a bad idea when dealing directly with the IRS, FTB, or any other entity that could end in litigation.
Two Great Reasons to Get a Tax Attorney
The attorney-client privilege, which is an integral part of the relationship, is one of the biggest advantages of using a tax professional instead of a CPA. Your tax attorney cannot testify against you in legal proceedings.
This Exemption Is Not Available From either A CPA (Or Tax Preparer)
Additionally, a tax lawyer can provide guidance to help you make the right decision. An attorney who specializes in tax law is more likely to have the knowledge and experience necessary to settle a tax case than someone who does not live on the streets every day.
Only a competent tax lawyer will know all about the programs that you may be eligible for and can help determine which program is right for you.
A CPA might only be familiar with a handful of programs. But even then, they may not have complete knowledge. Tax codes and tax laws change frequently and are often complex. False advice can cause you to lose your job with the IRS or FTB Collections.
When to Hire an Attorney?
If you are looking for a tax professional to help you, it is a good idea to start where the need may be less urgent.
- Calculating your business and self-employment taxes
- You have a large tax obligation or assets that are in dire need of special protection
- When the IRS won’t listen to you when you try to correct a wrong
Tax Disputes
When you are notified that you have been audited, you should immediately contact an attorney. The majority of disputes involve one or several tax returns. But, there is always the possibility you could say/do something that causes the investigation not to go as planned.
- An attorney can help you:
- Communicate with your tax agent
- Be present during an audit
- Help negotiate a settlement
- Do not pay more than you have to
If you ignore the tax agencies’ notifications, you could face charges of tax evasion or criminal prosecution. A lawyer is available to help you fight the charges against you or prevent you from being indicted.
Compromise Offer
An attorney can help with an Offer in Compromise to increase your chances of it being accepted by the tax agency. To accept it, there are many steps that must be taken.
- You are unable to pay the entire amount at once, or in installments.
- There is some doubt regarding the liability.
- Extraordinary circumstances may indicate that payment in full would create extreme financial hardship, unfairness, or inequity.
- The IRS can take up to 2 years to either accept or reject your offer in compromise. You want it as convincing as you can.
