When you have received a notice that you owe back taxes to the IRS, the last thing that you will want to think of is being slapped with another bill. It’s then natural for you to think if you can solve that tax debt without getting the help of an experienced tax attorney. There are tax issues that anyone can resolve without getting the help of an attorney. However, this demands that you spend time to learn how it can be done, but for those who don’t have the time to do that learning, and also the motivation that this process demands, it can be challenging.
Here are scenarios where you must hire a tax attorney.
1. If you owe IRS more than $, 50,000
This is a huge amount and you have to be careful not to have this bill doubled or even tripled, so it’s natural that you will get professional assistance. The tax attorney will commence communication with the IRS on your behalf, and negotiate properly. With their help, you stand a better chance of receiving a better settlement.
2. You are self-employed and own a business
When you owe the IRS and own a business, your business may be liquidated to pay the tax that you owe. You have to act with speed and enlist the help of professional tax attorneys. They will help you to commence the process and ensure that you get a favorable settlement from the tax authorities.
3. You have unreported income and other fraud indicators
When you commit fraud against the IRS by not reporting all your income, there is a possibility that you will be penalized heavily. Also, you could be prosecuted and sent to jail. You don’t want any of these to happen to you, so you should try and get the help of a tax law expert as soon as possible.
4. When you have received a notice from IRS
A notice from the IRS should be treated with the seriousness that it deserves. You don’t want to be slapped with more bills than what you already owe IRS, and the best way to secure your interest is to hire a tax attorney.
5. When you feel intimidated by IRS
Talking to the IRS may feel intimidating and if you feel that you cannot handle it on your own, it’s in your best interest to hire tax law experts. For some people, they might find it easier to deal with the whole issue on their own, while for others, it can be quite hectic.
Conclusion
In any of the above scenarios, you are most likely to receive a better outcome when you hire a tax attorney. You have to be careful and if possible, avoid going at it alone. Especially if you are dealing with a complicated case, you may end up getting more scrutiny from the IRS which might increase the amount that you will pay to the tax authority in the form of tax.
