There are more reasons than you think to have a tax lawyer. Almost everybody can benefit from having a tax lawyer. The importance of having a tax lawyer can make a big difference. A tax lawyer is one of the few people that can actually understand the IRS tax code. The complications of the code takes years of education and experience. The only other person that can understand the code is perhaps a CPA. The CPA does not have the legal qualifications to represent the client.
The tax lawyer is the first choice in choosing someone who knows the tax code. Your tax lawyer is an expert on the tax code and can help you pay as little as possible in taxes. Another reason to use a tax lawyer over a CPA is representation. The tax lawyer can represent you in the case of tax evasion. The tax lawyer is a master negotiator because he has power in the court. Another key fact with the tax lawyer is he cannot be used to testify against you.
To sum up; the tax lawyer minimizes your tax liability by knowing the IRS code and also to represent the client in IRS disputes.
Another important function of the tax lawyer is to help set up the form of ownership. This is another complex area where the tax lawyer is invaluable. Setting up the proper form of ownership can be very complex. All forms of ownership have various advantages. Knowing how to structure your business can bring huge tax advantages. Also the legal aspects of inheritance of say; a family business or limited liability corporations to protect an individual’s other assets.
The tax lawyer can help in a merger of two companies. The tax lawyer can guide you through the merger from the beginning and make sure you get the best tax advantages right from the start. The law is a very complex entity and knowing how to navigate can be extremely crucial and stress relieving.
Another area where the tax lawyer is important is nonprofit organizations. Nonprofits are regulated by the tax code. The structure and functions of nonprofits have special regulations and only a tax lawyer has the experience to guide you through it.
All types of people and incomes can benefit from the use of a tax lawyer. They can be consulted about your IRS return, back taxes and even unemployment matters.
This is America and your situation can change drastically from year to year. This means you could all of a sudden come upon a lot of money or even owe the IRS for back taxes. Don’t waste time in contacting a tax lawyer if you think you need one. No one else is trained and experienced like the tax lawyer.
