February 21, 2024

For advice when preparing for an estate and during an IRS tax audit in Oklahoma, speak with a tax attorney. These experts have devoted many years to their education, earning bachelor’s degrees, law degrees, and other graduate degrees. They can help you get liens off of your property and wage garnishments lifted.

Even though the two careers may not be closely related, a tax attorney is extremely knowledgeable and can assist with any legal situation. It can seem unnecessary to hire an attorney to assist you with your taxes. As you can see, tax lawyers have a wide range of skills that a CPA lacks. A tax attorney OKC is someone you can employ to represent or help you. Here are five excellent justifications for hiring a tax lawyer.

1. Your Tax Returns Are Past Due

Do you have to deal with unreported revenue from previous years? With the assistance of your accountant, you can fill them out and submit them, but it’s advisable to discuss the matter with a tax attorney. They can help you coordinate with the IRS to send and complete those tax returns. Even if you owe back taxes spanning several years, dealing with the IRS as a group will be simpler. The IRS will be able to contact you more easily if you hire a tax counsel to advocate your interests. A tense scenario will become less stressful as a result, which is always beneficial.

2. When Launching A New Company

You might be underestimating how challenging it is to launch a business. It is required to manage all documentation, file for an EIN (employment ID number), and open company bank accounts, among other activities, in addition to legally incorporating your firm (you have the choice of a sole proprietorship, partnership, S-corporation, or a Corporation in general). Even if your objective is to purchase an existing company or rebrand it under your name, the procedure can be challenging. Tax attorneys can assist you with the entire procedure as they have a lot of knowledge in business planning and setup.

3. Estate Planning Assistance Needed

Planning an estate can be difficult. Whether you want to establish trusts for your family or safeguard your assets from creditors, a tax attorney can help. They can take care of all the paperwork and assist in planning your estate. They can aid in your selection of the most qualified trustees for the job. You can establish organizations using a portion of your estate with the assistance of a tax attorney. They will be able to distribute the money as well. The succession planning procedure will be as simple as feasible thanks to the expertise of these tax attorneys in estate planning. You are welcome to enquire about any other elements of the estate setup or anything else.

4. IRS Wage Garnishments Are A Problem You Must Handle

Discovering that the IRS is going to take your salary and put tax liens on your properties is one of the most upsetting things you can experience. You have likely disregarded any IRS notices that you have received regarding unpaid back taxes. The Internal Revenue Service has altered its approach and adopted a stricter posture. The IRS may file criminal charges against you if your tax debt exceeds your financial capacity. If this transpires, a tax attorney is necessary to assist you. Your tax lawyer can assist you in contacting the IRS and handling all correspondence. They can assist you in negotiating a lump sum payment or payment schedule that will end attempts at garnishment and liens and even halt criminal accusations. As long as you abide by the conditions, the IRS will cooperate with your tax lawyer to find a solution.

5. An IRS Tax Audit Is Currently Underway

IRS tax audits can be traumatic. They can entail the IRS visiting your place of business or you providing them with your financial documentation. A tax lawyer can make things simpler. A tax lawyer will support you in interacting with IRS representatives, help you submit records for examination, and make sure you have all the data the IRS requires. Your tax attorney can serve as a liaison and assist you with any inquiries or further information that the IRS might have. If the IRS thinks you owe them back taxes, an attorney is always beneficial.