If you could immediately shave 33% of the total off of your tax debt, would you do it? Believe it or not, you could instantly reduce your penalties by a third through a penalty abatement program that is readily available to all American taxpayers. Most people are unaware that this option even exists because they are navigating tax debt on their own rather than working with a professional tax attorney.
Tax attorneys do more than handle big tax evasion cases. They can also help with regular tax issues like preparing your tax returns and helping your whittle down your tax debt through penalty abatement and installment agreements. When you do your own taxes, you will probably take the easiest route by using an automated software or basic online e-filing option. But a tax attorney could save you thousands of dollars and you could end up with much more money in your bank account even after you pay their legal fees. You could end up getting a lot of money back on your return because there could be deductions out there that you have never been aware of in the past.
Have you ever thought about how much time you put into filing your taxes? This can be extremely time consuming. In fact, it has been estimated that some people will spend more than 24 hours completing their tax returns each year. That means you could spend over two months of your lifetime doing your own taxes. Do you really want to spend that much time looking at tax returns? When you work with a tax attorney they will be putting that time into your taxes, not you.
If you do your taxes, and make mistakes, you could end up facing an audit. This word can really send fear through a lot of people. However, if you are working with a professional they will be able to help reduce the possibility of any mistakes on your taxes. If there is a problem, and you are facing an audit, they may be able to help you with this as well. They will know exactly how to work with the IRS so that you do not have to worry about getting all of your paperwork together. They will be able to answer the IRS questions and concerns so that you do not have to. In many cases they can even reduce the penalties that you might be expected to pay. This benefit alone can make working with an attorney a great decision.
In the end, if you are struggling with your taxes you might want to consider hiring a professional. This is especially true if you have a large business and you want to ensure that your taxes are accurate. Each person has a different situation so you will need to determine if your situation would be handled more effectively with an attorney.
If you neglect to file your taxes on time, the consequences can be severe. The penalty for not filing your taxes can be as high as 25% of the amount that is owed and for a business, and that adds up to massive tax burden. In order to avoid this, many people opt to work with a tax attorney. A quick Internet search will show that there are dozens of companies out there that promise tax resolution services but not all of them can be trusted. In fact, a qualified tax attorney is a true gem and once you find a good one, you should do whatever you can to maintain an ongoing relationship.
Some of the most well-known tax defense services end up doing more harm than good for their clients. It’s hard to know the truth because they frequently come after former clients that post negative reviews and threaten libel lawsuits if their services are slandered. Some services even included fine print clauses in contracts that forbid clients from posting negative reviews in the event that they are unhappy with the service.
Depending on the type of tax issue you are facing, you could end up paying thousands of dollars for these large-scale tax resolution services. If you are thinking about working with a tax defense service, it will be a good idea to speak with the professional and receive a breakdown related to their prices before you ever agree to work with them. Always find out what they are charging you for and how those charges will be added up. If you are able to get a free consultation with multiple services, then you should do that to get a feel for what each one offers. Then you can decide which one can help you for the best price.
When you stop and consider all of the different tax software options you have in today’s society it is easy to see that you may be able to save money by avoiding a tax service all together. Even though you may need to pay for the program, it could still be less than you would pay for a large agency’s services. Many of these software programs will also offer online assistance while you are completing your taxes and audit defense in the months that follow. There is no reason to pay thousands of dollars if you will be able to get the same assistance through software online for much less money.
An attorney that focuses on taxes will be the busiest during tax season. It goes without saying that this is when you need them the most. Oftentimes, these agencies will ask you to submit your information at the beginning of January in order to have your taxes filed by the April 15 deadline. This can be a real problem for some people.
While there are a number of tax defense agencies out there that are nothing more than a glorified scam, that doesn’t mean all tax attorneys are bad. If you have a real tax problem and need professional help, opt to work with an individual tax attorney rather than a big tax defense service. Most importantly, comb the Internet for reviews before you commit to any tax resolution business. It’s the best way to protect yourself from scams.