Is A Tax Attorney Necessary?
Do you need to hire a tax attorney? It is dependable on your individual situation. If you are in a dispute with the IRS, then you really need an attorney. Many companies keep a tax attorney on retainer in case they have any questions. Doing so can save them money spent on mistakes and they can also make sure their company is set up the right way.
For an individual, the most common reason for hiring a tax attorney is that they are under investigation by the IRS. In this situation it is very important to know exactly what the law says and find out whether you have broken it, either by something you have done or by something you have omitted to do. A tax lawyer can help you with these questions.
In the event that you are being accused of tax fraud, you will need a good lawyer to take your case and defend you. Because you will probably end up in court, you need to hire an attorney that has experience in this type of case. There may be room for plea bargaining or the lawyer may be able to find precedents to support your defense. An attorney who's not specialized in tax law might find himself grasping for straws.
In reality, there are not lots of real fraud cases, and in many instances, the people investigated have only made unintentional mistakes. A lot of people think that they should not need a lawyer if they have done nothing wrong. This may be true, but it is also often the case that people break laws because they do not know about them. A tax attorney can talk to you about things you do that could potentially be considered risky.
And, in some cases, an individual is not satisfied with a ruling by the IRS, and they want to open a dispute. In such a situation, your attorney could handle the dispute with the IRS on your behalf. Perhaps you might even want to sue the IRS. In that case, make sure your attorney is highly qualified. The IRS employees its own lawyers, who spend the day figuring out ways to apply tax laws. You need somebody to interact with them on your behalf at the same level.
As we have said, businesses often hire a tax attorney from the get go, especially when they are setting up new operations. This way they will know their business is structured to satisfy tax laws. You may want to do something similar if you are a private individual or family setting up a trust.
If your business or financial interests span international borders, you may benefit from tax advice. International taxation can get very hairy. If you don't know how to set things right, you might end up paying taxes to two jurisdictions, when you only need to pay them once. It doesn't happen in all countries, but in some it does. In some other countries you might have to pay no taxes at all.
Besides this, you will find that the level of taxation varies widely in different countries. An international business will want to make sure their company is set up in such a way that will cost them the least amount of money in taxes. It can be extremely confusing, so a good international tax attorney is almost a must have.
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