If you are going to be audited by the IRS, it is likely that you will need to have an attorney. They are going to provide you with the assistance that you will need to make sure that you can resolve this problem as quickly as possible. If you have owed a substantial amount of debt for years, you may not realize how much trouble you are in. An attorney that handles tax situations will be able to help defend you, and hopefully help this come to a reasonable conclusion. Here are the advantages and disadvantages of using a tax attorney if you are going to be audited.
Reasons That You May Need To Have An Attorney For An Audit
The main reason that having an attorney is beneficial is that you are facing a situation that you simply don’t understand. You may have thought that you had paid your taxes, then you are suddenly audited by the IRS and you don’t know why. This is possible, yet there will be others that will understand that they are not paying their taxes. Because of that, they will need some type of legal representation to potentially prevent themselves from being find, or even having jail time as a result of this delinquency. Therefore, the primary reason for having an attorney for any legal situation involving your taxes is to protect your rights.
What Are The Advantages To Having An Attorney That Understands Tax Laws?
An attorney that has legal experience in tax laws will be advantageous for several reasons. First of all, they can explain to you what is happening. You may receive an assortment of paperwork from the IRS demanding that they be paid, and a specific amount of money that will be due and payable usually immediately. If that is the case, then the lawyer will be able to potentially delay your repayment, often scheduling a day in court. However, they may simply be able to correspond with the IRS by phone and also through the mail, eventually leading to some type of resolution for your case. Another advantage to having an attorney is that you won’t have to speak. There are certain things that you should say, and also avoid saying, during this time. They will know exactly what to say to the auditors once they arrive. This will put you in a much better position, even if you end up having to pay a substantial amount of money.
The Disadvantages To Using A Tax Attorney
The main disadvantages to utilizing an attorney for your taxes is the cost. This can sometimes be thousands of dollars. For example, if you are millions of dollars, and there will be multiple court cases involve, you could be losing tens of thousands by using their services. However, this is often balanced by how much money they will be able to save you. If you can show proof of receipts for a business that can show right off potential, this can help you save substantially more than you will pay them. Some attorneys will actually work pro bono, expecting payment only after everything is resolved. However, most tax attorneys will that work for free, therefore requiring you to pay out quite a bit of money to receive their services. One final disadvantage is that you may be hiring an attorney that may not have a lot of experience with your particular situation. It may not be simple, and if they have only been doing this for a couple of years, they could miss many things that could help you pay less money once the situation has come to its conclusion. You just need to find an attorney that will understand how to negotiate between the IRS, focusing on the money that you owe, potentially leading to a smaller amount that you will pay out.
Is It Hard To Find These Attorneys?
If you are in a larger metropolitan area, there are going to be multiple tax attorneys at your disposal. All of them will have websites, allowing you to see information about each one. They may also have testimonials from people that have use them before. This is going to help you decide which one will be best suited for your particular case. It is recommended that you speak with them over the phone initially, and subsequently set up a meeting to talk with them in person. It is during this time they will tell you how much it will cost to utilize their services. After you have several meetings, you will know exactly that you need https://deanhineslawyer.com/tax-attorney-dayton-ohio/ to help you with your case.
How Long Will It Take To Resolve Your Case?
It should not take longer than a few weeks to resolve everything. If it is more complex, it could be a month or two. Your tax attorney will give you a rough estimate as to how long it will take to resolve your particular case by comparison with other cases they have resolve for other clients. This information is helpful as it will allow you to understand how much money it is going to cost to use their services. It will make it easier for you to pay off all of your tax debt, and most importantly, eliminate the pursuit of the IRS to obtain money from you.
When you owe taxes to the IRS, it is never a fun experience. You could be facing a heavy penalty for your delinquent payments. These lawyers will be able to waive some of those, allowing you to get on track with making your payments regularly. If you can show the IRS that you now have paid your taxes on time, and that you may have a better job which will take taxes out of your paycheck, they will be more than happy to come to a reasonable settlement. All of this is possible if you are working with a competent tax attorney that will help you every step of the way. It may take you a week or more to evaluate all of them, but you will eventually have one of them help you resolve your situation.