3 Tax-Related Situations That Can Be Handled by an Attorney
Almost every working American is required to file income taxes with the IRS. Although most people don't experience any issues as a result of the paperwork they file, there is always the possibility that a tax-related issue can arise.
It can be beneficial to partner with an attorney who has experience dealing with tax laws to resolve your tax problems as quickly and effectively as possible.
1. Audits
Most taxpayers fear being audited by the IRS. It is possible to be audited because the IRS suspects false information on your tax return, but it is also possible to be chosen for one of the random audits conducted by the IRS each year.
An attorney's help can be invaluable during an audit. The IRS has limited rights when conducting an audit. You should know what these rights are so that you can protect your own rights throughout the audit process.
2. Fines
Fines can be levied by the IRS for a variety of reasons. Some of the more common reasons the IRS fines taxpayers include fraud, inaccuracies on your return, failure to pay taxes owed in a timely manner, and failure to file a tax return when required. Working with a tax attorney can be an effective way to resolve any fines you owe the IRS.
Your attorney can determine if the fine you are being charged is correct, and many attorneys will even negotiate a settlement with the IRS to help lower the amount you owe in fines. It is possible for the IRS to make mistakes, and your attorney can help you resolve any tax fines that you feel have been charged in error.
3. Liens
The IRS has the authority to place a lien on your assets if you fail to file or pay your taxes in a timely manner. A lien can be placed on the funds in your checking or savings accounts, on your home or vehicle, and on any dividends from stocks or bonds that you own.
Liens should never be taken lightly. The IRS can seize your assets after placing a lien on them and sell the assets at auction to help pay your tax debt. An attorney can help you resolve liens quickly and effectively so that you don't lose any of your property as a result of tax problems.
An attorney who specializes in tax law can be a valuable ally when you are facing serious tax problems. Rely on an attorney to help you work with the IRS to resolve any tax problems you have in the future.
