Are you a tax practitioner or a tax lawyer? Both would be more than happy to answer your question. Tax practitioners are attorneys that specialize in the specialized field of tax law. They are best suited for dealing with legal and complicated financial issues related to your tax case. An experienced attorney could step in immediately after you’ve had a financial problem but consulting one before hand can also save you from unnecessary difficulties in the first place.
Taxpayers and many other individuals around the country face various kinds of tax debt problems every year. Some of these problems include payment penalties, interest on delinquent payments, as well as hefty fines for federal tax violations. If tax relief is what you need, you might want to hire an experienced attorney to represent you before the IRS. They are trained to help taxpayers to work out compromise agreements with the IRS in order to settle their debt obligations.
When a taxpayer is charged with tax evasion, it’s important to hire a tax professional that is familiar with IRS audit procedures. If you have been accused of tax evasion or tax fraud, you will be required to appear before an administrative judge called the “examiners”. The purpose of the examination is to determine whether you are guilty of tax evasion or fraud. If found guilty, you will be required to pay the full amount of overdue taxes plus all applicable penalties. Hiring a tax professional that has prior experience dealing with tax relief or similar federal tax issues may make a huge difference in avoiding a tough penalty.
Taxpayers must file an application for a tax extension if they feel that they are not able to pay the full tax owed on their federal income tax return. Unfortunately, some people become so stressed out by the prospect of facing federal tax liabilities that they end up filing for a compromise arrangement with the IRS instead of fully paying what they owe. It is important to note that a compromise agreement does not relieve the taxpayer from owing the full amount of taxes. Rather, it relieves the taxpayer from the penalties and interest that would be assessed if the case went to trial. To obtain a compromise agreement, taxpayers must file an application for a tax extension.
The tax attorney you choose will determine if you qualify for a compromise agreement. Taxpayers who can show that they do not have enough future income to repay the full amount of taxes owed to the IRS in full should be able to secure a compromise agreement from the IRS. The tax attorney will negotiate with the IRS on your behalf and try to reach a compromise agreement that the taxpayer can agree with. However, if your financial situation does not improve in the future, you may be required to repay the full amount of taxes due.
Taxpayers who seek tax relief from the IRS should not attempt to deal with the IRS alone. Hiring a tax attorney can be very beneficial. A tax attorney has the knowledge and experience needed to represent you in negotiations with the IRS. It is better to have a tax attorney to represent you because it may help you get your tax debt eliminated completely in some cases. The IRS can also garnish your wages, which could severely impact your financial situation. Tax attorneys can prevent this by negotiating with the IRS and proving that you qualify for a tax debt relief.