Tax Attorney
It is absolutely necessary to choose the right tax attorney if you are burdened with tax issues such as being audited, having IRS tax debt, being accused of investment fraud or other IRS-related concerns. If you ignoring the tax problem will only make it worse it is best to get a tax lawyer. If you wait too late you could be subject to tax penalties that include fines, interest, liens, garnishment and other penalties up to imprisonment. With so much at stake when dealing with tax legal issues you should find an attorney who specializes in tax law.
If you have decided to use the services of a tax lawyer, you need to know how to find a good tax attorney.
Attorneys may be a general practitioner or a specialist. You need an attorney that specializes in tax law. Also, a good reputation and track record with former clients are important. The tax attorney should be in good standing with the IRS and any bar association.
Another consideration must be the attorney's fee. Now, be aware that legal representation may not be cheap. However, with you attempting to remedy the tax situation yourself, the cost to you could be multiple. First, consider the cost. The actual attorney fee will vary depending on location, the nature and complexity of the case, the particular lawyer involved and the tax attorney's hourly rate. So before you jump and choose a tax attorney that seems ideal, to prevent delay and disappointment, make sure that you can afford the representation.
Contact a few tax attorneys and ask about their fee schedule, find a payment arrangement that fits your situation. Most reputable tax attorneys will require a down payment for work performed, this is known in the industry as a "retainer". The retainer amount will vary. Part of the retainer will be refunded if the total amount is not used.
Here are some common fee structures:
I. Fixed or Flat Rate: This is an arrangement were specific legal services are covered by set fees.
II. Hourly Rate: Very common. Fees will be assessed based on the time the tax attorney spends on your legal issues.
III. Contingency Fee: Is a fixed percentage of the amount of recovery the tax lawyer is able to secure, which will serve as the attorney's fee. However, there are other expenses such as court costs, filing fees, copies, phone charges and more that will be your responsibility.
A successful tax lawyer with a proven track record will likely have a background in tax law, either as a course of study or in service in the IRS. They will also probably have financial experience in some other field such as a Certified Public Accountant. If you have a tax issue involving the IRS, make sure that you choose a tax attorney that is licensed to represent clients before the IRS.
In choosing the right tax attorney you want to know if the tax attorney will handle your case personally or refer it out. How many cases has the tax lawyer or firm handled. What is the ratio of cases that went to trial to those that were settled and the outcomes of those cases.
You must share personal, sensitive and confidential information, make sure you choose someone you are comfortable with. Ultimately, it is essential to choose a tax attorney that you can trust to represent your interest and bring relief to your tax issues.
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