Tax attorneys come with special competencies for problem solving related to tax related issues. Seeking well qualified and experienced tax professionals is important in resolving tax problems.
These attorneys are highly expensive in the market, as they come with specialized skill sets and are well versed with tax law. Tax attorney works with members of corporate, private equity markets, real estate and capital markets. Attorneys at seniority level work directly with clients and other accountants.
The main duties of a tax attorney are listed below:
- Attending day to day tax sensitive issues
- Administering the business transactions of their clients and draw a blueprint of all tax planning projects.
- Complying with the IRS deadline and coordinating with the clients on periodic basis to file tax returns.
- Keeping their clients updated on all the developments pertaining to the case.
- Analyzing and understanding the state and federal laws
- Understanding and maintaining good knowledge of the accounting principles.
- Researching on various taxes issues and prepare all audits.
- Administering to foreign tax credits.
Tax litigation is the process involved in resolving tax disputes with state, federal, local or foreign tax authorities. It involves, collection of taxes including income tax, state and sales tax or property tax. Theses tax litigations are separated as civil and criminal matters.
Civil Tax litigations
Tax Attorneys are specialized in dealing with civil tax controversies by assisting the tax payer in regards to tax laws, pursuing judicial appeals and evaluating transactions to avoid tax disputes. A tax attorney merely acts as an advisor in assisting their tax payers.
Criminal Tax litigations
These criminal matters may involve a taxpayer avoiding to pay taxes, by violating certain rules. Tax litigators can help such taxpayers, by representing them during investigations by IRS, the Judiciary, and in criminal trials.
Tax refund litigation
One can seek advice from a tax attorney if a refund has been unreasonably denied by IRS. The attorney would take the case into his account, evaluate the legitimacy of the refund request and accordingly act on it. The tax attorney can also appear on behalf of its client in court to protect the rights of their clientele.
Tax Attorneys as advisories
The tax attorney can help you in launching your new found business, by providing you expert guidance in filling up the tax forms thereby ensuring you comply with the tax rules and regulations.
Tax attorney can also be asked for their expert advice if a company has received an IRS audit. They even assist in IRS criminal tax related investigations.
As an individual or a company seeking for expert suggestions on tax resolutions, you should find a tax lawyer who could provide customized service, having extensive experience and a good track record.