Most financial experts say that you can count yourself lucky if you never face a “complex tax situation that calls for outside help.” While many of us think of taxes as a fairly straightforward matter tackled once every year, it is far more expansive than that. As an example, you might find you need the help of IRS tax lawyers because you have fallen behind on paying personal or business taxes, you are being audited, if the IRS has said they are pursuing criminal charges, and more.
What Does a Tax Lawyer Do?
There are attorneys who can advise you about your estate planning and how taxes are part of that, but a lawyer specializing in IRS issues is different. They don’t look to help you reduce the tax burdens on your income, estate or assets. The are there to help because the issues you have with the IRS also have specific legal ramifications. For instance, if you are being audited, it is likely because the IRS is fairly certain you have misreported your financial information and owe substantial sums. The lawyer is there to help you negotiate a settlement, help reduce penalties and even get you into an installment plan, if the IRS is willing to do so.
There are also quite serious matters that a lawyer specializing in IRS matters will address. For example, the IRS may find that they have no other recourse than to pursue criminal charges against you, i.e., you are a tax evader or they have proven you committed tax fraud. This is a moment when a tax attorney is vital to your future. They may help to get you on a payment plan or speak on your behalf to help workout the best scenario possible. They are also the ideal person to speak with whenever you get any “CP” notices from the IRS. These are reminders that you owe a sum and that it could translate to a more serious concern, such as pressing charges against you.
Not CPAs
Remember that a tax attorney is not someone to consult with about filing returns. That is the job of a CPA. Tax attorney are experts in tax laws, and are essential if you face any of the issues outlined above. If you find you need IRS tax lawyers in Elk Grove Village, North Suburban Legal Services is the ideal choice. Specializing in business, tax and employment law, they are a go-to for those facing IRS notices or issues.
