While accountants and tax experts can help you in handling activities like calculating and filing your returns, the moment you have the Inland Revenue Service contacting you over things like evasion, not paying your tax, or any other issue that has to do with tax, then you will most definitely need a tax attorney.
As much as an accountant may be able to help in this regard, it is best to use an attorney as you are now fighting a case with the law.
Tax attorneys are lawyers who are specialists in tax laws and they help handle technical and legal issues concerning this. They can be consulted to keep you from running into any problems or after you have run into some trouble with revenue authorities.
They are ready to step in and help you out. You can read about what they do here.
Table of Contents
When Do You Need a Tax Attorney?
When Starting a Business
If you intend to start a business, it is advisable that you contact an attorney. This will ensure you have a good foundation on which to start your venture. They can help you answer critical questions such as the type of business you should set up, how to incorporate it, the implication of whatever choice you make with regard to structural operations, taxation expectation and other sundry issues. You may also find them helpful with any contracts, agreements and other legal matters you will need.
For Your Estate
Owning an estate whose total value exceeds $11.58 million at the time of death or $23.16 million if you are married means it is taxable and you have to file returns. You as a person might not need to worry about this but your heirs will have to pay up to around 40% of the applicable threshold.
Employing the services of a lawyer to help in this regard will come in handy as they will help you with strategies to stay below the threshold for exemption and also for your heirs so they do not get into trouble after your demise.
It is important to know that due to the Tax Cuts and Jobs Acts (TCJA) of 2017, the estate tax exemption doubled but that will most likely expire in 2025 and the threshold will drop. This will make many more families susceptible to filing returns on their estates. You can read about the TCJA here: https://taxfoundation.org/tax-reform-explained-tax-cuts-and-jobs-act/.
When You Have Legal Issues
Whether you are under a criminal investigation by the IRS, intend to bring a lawsuit against them, or want a review of your case in an Atlanta Court, you most definitely need the services of a lawyer who is an expert in this type of case to handle it for you.
You may have gotten here through evasion, or through unknowingly claiming credits or deductions you were not entitled to. With your attorney, you have a lawyer-client privilege that makes them not divulge whatever you confide in them in court. You are not likely to get this privilege with an accountant.
Choosing an Attorney in Atlanta
Having an issue with the IRS is not something anyone looks forward to and neither is it something palatable. If for any reason you find yourself in this kind of situation or before getting there at all, choosing the right lawyer is essential to either avoiding this or getting you out. You need to be aware that there are attorneys whose expertise is in legal matters involving taxes.
Some actually do have accounting backgrounds and can either be Enrolled Agents (EA) or Certified Public Accountants (CPA). These set of lawyers help handle highly complicated cases. You may however not need this level of specialization if yours is not very serious.
One good reason for hiring a tax lawyer in Atlanta to assist you is to avoid mistakes especially due to the many tax cuts that are offered in the State of Georgia which may lead you to incorrectly apply for credits if you are not careful. An expert knows this and will help you avoid unnecessary mistakes when filing your returns.
In selecting a lawyer, some of the questions you may need to ask include:
- What is their expertise?
- Are they admitted into the Georgia State bar?
- Do they have experience handling this type of case?
- How much do they charge?
In addition to the questions stated above, you can ask for and reach out to people that they have represented in the past and also check reviews about them online or with friends and colleagues. Once you find the right attorney or firm, you will reap the benefit for many years to come.
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