Benefits of Hiring a Tax Attorney
Before you hire a tax attorney, make sure you have a clear idea of what you need them to do and what their fees will be. Many tax attorneys charge on an hourly basis, and you should be sure to ask for a quote for your particular case. You should also make sure to find out whether your attorney is a member of the Bar Association and has the proper credentials to handle your case. An hourly rate can vary from $100 to $400, depending on experience and location. When facing financial and legal consequences because of tax issues, seek help here.
In order to become a tax attorney, you must obtain a bachelor's degree from an accredited university. This degree can be in any field, but it's best if you major in business, economics, finance, or accounting. The next step is to apply to law school, which is typically a three-year program. You can prepare for this step by taking the Law School Admission Test, but you should keep in mind that competition can be fierce, especially if you want to attend one of the more prestigious law schools.
Tax attorneys are able to help clients with the filing of various forms and returns. They also have extensive experience handling back taxes. This type of work is challenging but rewarding. A tax attorney who understands this field can provide you with the guidance and representation you need to get the results you need. The following is a list of some of the most experienced tax attorneys.
When you owe the IRS more money than you can afford, a tax attorney can help you negotiate a repayment plan that fits your budget. Sometimes, a tax attorney can even negotiate an offer in compromise, allowing you to pay less than you were owed. If you have a federal tax lien on your property, you may be unable to sell it. Your tax attorney will work to remove this lien, so you can sell your property without worry.
Another important benefit of hiring a tax attorney is that they specialize in tax law. They can handle all types of legal tax matters and represent you in disputes with the Internal Revenue Service. They are knowledgeable in state and federal tax codes and business regulations. Tax law is complex and it is vital to seek the advice of an attorney before making important financial decisions. You can hire a proactive advocate to help with the tax issues.
Tax attorneys can work for law firms or in private practice. Law firms usually hire tax attorneys for the legal representation they provide in tax disputes, and accountants often hire tax attorneys for tax advice but do not represent clients in court. Regardless of the setting, tax attorneys offer an invaluable service to their clients. This is why tax attorneys are considered to be a stable field of practice.
While both tax attorneys and CPAs are capable of providing quality advice for your needs, they do have distinct limitations. A dually-certified Attorney-CPA will offer a more comprehensive service than a CPA. Their background in these highly technical fields makes them better equipped to help you with your tax problems.
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