When Do You Need a Tax Lawyer

Taxes are confusing and you often feel trapped when you must deal with it despite having little knowledge about the entire matter. In such a situation, the foremost thing to take into consideration is that you should never take things in your own hands and try to do it yourself. You should rather get in touch with a tax lawyer to handle your case. Tax lawyers are usually not required for tax prep. However, here are some reasons why you may consider hiring a tax attorney.

• In case of having a taxable estate: As per 2020 tax laws, if the total value of your estate is more than $11.58 million and $23.16 millionif you are married, then it is taxable. A tax attorney can be of huge help in this situation as he/she will help in devising the estate-planning strategies, which will further aid you to be under the exemption threshold and steer clear off any important portions of your estate that is going to the Internal Revenue Service.
• In case of starting a business: In majority of the cases, when you start a business, you will need to think about tax ramifications. You will undoubtedly need the help of a tax lawyer at this point to understand all the tax structure and possibilities to save some money. If you have an international business, then you would need to involve tax lawyers from the very beginning in order to get some help for contracts and various other legal matters.
• In case of legal issues: If you are under any criminal investigation by the Internal Revenue Service, or if you have any intention of bringing a lawsuit against the IRS, you would need the help and guidance of a tax attorney.

Apart from these, there are many reasons which make it sound absolutely important to look for a tax lawyer in order to get some or the other kind of help in the matters of taxes. However, the most significant thing to take care of in this entire matter is to get in touch with the right tax lawyer.

Now, when we talk about the right tax lawyer, who precisely is the right one? The right tax lawyer should be:

• Experienced
• Knowledgeable
• Have a degree on law from a recognized university or law school
• Associated with a reputed law firm

While you check all these points, you must arrange an in-person meeting with the tax lawyer. This will help you to further figure out whether the tax attorney will be able to deal with exactly your case or not. Also, things that you are confused about will get cleared with the help of the tax lawyer. Something that you must bring up at the meeting is that of the fee that the attorney will be charging. So if you are all set to hire a tax lawyer, get started with it at the earliest and find ways to manage your taxes.