Did you know that the average tax return was just over $2,900? If you’re hoping to score a good refund or simply get your taxes filed on time, you’ll benefit from some help. After all, knowing how to fill out the paperwork and account for all of the details can be a daunting task.
Read on to learn what a tax lawyer does and how they can fix your taxes!
Understand the Role of the Tax Lawyer
Think of a tax attorney as someone with specialized knowledge of tax laws who can help you in several ways. For instance, some tax lawyers focus on handling situations related to state, personal, or local taxes. Others focus on estate planning or litigation.
Tax attorneys can help clients navigate unusual circumstances or file their taxes and save more money. For individuals with complicated tax issues, a lawyer can spell out the potential outcomes given tax legislation changes or an audit. And in other instances, the attorney can help someone develop an estate plan that positions them well in light of taxes.
Consider the Benefits
Are you starting a new business? Turn to a tax attorney to help know your financial obligations so you can focus on running your business.
If you’ve been told that the IRS will garnish your wages because of back taxes, a tax attorney can step in on your behalf. They will work with the IRS to determine a reasonable payment plan so you don’t lose out on expected income. There are serious consequences for unfiled taxes, so it’s critical to get some legal assistance.
In the same vein, an attorney can help when you’ve missed a few years of tax returns. And if you’re trying to determine where to put your money for your children or grandchildren, a tax professional will have good guidance. They can help you create trusts, find the right people to look after the trusts, and handle the necessary paperwork to make everything happen seamlessly.
Be Clear on the Costs of a Tax Lawyer
You will need to make room in your budget for a tax professional. How much they will charge can vary depending on region, experience, and the nature of your situation. Check to see if attorneys offer free consultations, and ask if they charge by the hour or use a flat fee.
Generally speaking, you can expect to pay over $200 per hour for their services. For complex situations, you could be spending several thousands of dollars to resolve your issue. Just remember that it is better to remove a tax burden the right way, and the investment in a good tax attorney can be worth it.
Hire a Tax Attorney
A good tax lawyer can help a client deal with audits, litigations from back taxes, and estate planning. They have the legal expertise to maneuver challenging situations and communicate with the IRS. Just be sure to budget for their assistance.
For more financial tips to help you solve tax problems, check back for new articles!
