Yes, it s that critical time of the year when you need to file your income tax return. If all you have to do is simply fill in some blanks, then it might not make much sense to utilize the services provided by certified accountants or tax lawyers. However, with more complicated cases, the assistance of tax lawyers and sometimes, even certified accountants can be invaluable. There are several specific situations where the assistance of a Florida tax attorney could prove to be crucial. Whether you have been charged with fraud, have become bankrupt, have to deal with an IRS audit or need specific information about filing status, a qualified Florida tax lawyer can give you the guidance and representation you need. Below, we discuss several specific situations where the advice of a Florida tax lawyer can prove to be beneficial.
If you are the person behind the huge Florida tax debt that has been dragging on for far too long and you feel like there is no way to get out from under your financial obligations, then you might want to consider consulting with a certified public accountant (CPA). While tax lawyers can provide tax advice in general terms, a CPA can help you come up with a viable strategy to get rid of your Florida taxes while minimizing the negative impact on your credit rating and financial situation. A certified public accountant will also have the inside track at what kinds of deals can be made with the IRS to lighten your burden of back taxes and offer you tax relief.
If you owe Florida business taxes or personal taxes for nonpayment, then you will definitely want to consult with a Florida tax attorney before you decide to declare bankruptcy. Although declaring bankruptcy is the best way to start working toward your financial recovery, it is also the most drastic measure you can take. It will wipe off all of your assets, including your personal ones, and freeze any banking accounts you might have. There are, however, some tax liabilities that cannot be wiped off by filing bankruptcy, such as back taxes that were owed to the IRS. If this is the case, then you will still want to consult with a Florida tax attorney to see what options you have to eliminate your tax liability.
If you are not sure whether or not you will be able to solve your problem by yourself or through the assistance of a Florida tax attorney and his/her firm, then you may want to consult with a local consulting firm first to see if they could alleviate tax liability through a set payment plan. Consultants can also recommend other possible solutions that may not be as extreme as you might think. For example, instead of appealing the penalty for income tax evasion, you can try to work out a payment plan that will make your tax payments easier to meet over time.
The job of a tax attorney is not only to help you resolve your current tax liabilities, but to also prevent further consequences in the future. While there are many steps you can take to prevent paying taxes on income or capital gains, there are some that can’t be avoided. If an audit occurs, a tax attorney can represent your best interests. He can advise you to withhold all wages until you have paid your taxes, or he can advise the government not to make penalty charges. In addition, if wage garnishment is initiated, your lawyer can stop it and negotiate for a wage deferment or payment arrangement that will allow you to avoid wage garnishment altogether. If wage garnishment is due to you, the lawyer can work on a loan modification with your creditors to allow you to pay them in installments, rather than all at once.
The services of a Florida tax attorney near you can be just what you need if you find yourself in tax troubles. There are many reasons you may need legal help, whether you owe money to the IRS, are involved in an audit, or even need advice on how to resolve certain issues with the IRS. Even if you just need someone to talk to when you’re thinking about something regarding your taxes, hiring a professional is a smart idea. Don’t try to handle everything on your own. Get a reliable professional to help you out.