One of the most important legal liabilities examples is that of paying taxes. A typical solution to this problem is to pay the amount in full rather than appealing to the IRS (Internal Revenue Service). Even if the amount is not waived, the taxpayer is still legally liable for the tax.
There are many ways to pay the tax. Some of them include an installment payment or an extension to the tax year. There are many other ways, as well. Some accountant firms offer a deferred tax deposits or an installment agreement with a stipulation that the tax will be paid over a number of years. In other words, a taxpayer can agree to pay the tax in full at the year-end balance and only pay the interest and penalties on that amount.
Another common problem is accounting errors. Many times, accountants make clerical and simple mistakes that lead to underpayment of tax liability by the client. This can result in a large legal liability for the taxpayer. To avoid this, it is advisable to work with certified public accountants who have taken a thorough training course. They should be well-versed in interpreting all the provisions of the tax code and state laws. Certified public accountants (CPA) are qualified to resolve conflicts over legal liabilities.
A tax expert will be able to handle a wide variety of complex tax cases, including appeals and complex subject matter. Some accountants specialize in complex tax audits. If a tax case goes to court, a CPA can prepare the case and appear at all hearings. He/she can also prepare briefs, interpret statements under penalty act, negotiate with the IRS, present arguments in court, and even take my law exam.
One other type of professional tax lawyer is the tax lawyer who specializes in tax litigation. This type of lawyer represents taxpayers who have been audited. He/She is highly knowledgeable in the subject and has handled many such cases in the past. In case of a successful appeal, he/she represents the taxpayers and works with the IRS. He/she also works with the agency in collecting back taxes.
A new term has entered the field of tax law – an “expert tax analyst”. He/she is a professional that analyzes legal liabilities related to federal tax laws or state tax laws. Many times these attorneys do not deal with taxpayers directly, but instead work for firms that represent them. They are required to complete a minimum number of credit hours and obtain a specialty degree in tax law. An expert tax analyst prepares briefs and performs research on a taxpayer’s tax liability and represents that taxpayer before the IRS.
These three professionals are just a few of the many legal specialists that help taxpayers with their back taxes and legal problems. Taxpayers should be aware of the many options that are available. These professionals should work with someone who is experienced with similar cases so that they know what to expect and how best to approach the problem. Taxpayers should be sure to look into hiring one or more of these professionals when needed.
Many taxpayers have found tax relief in the form of a tax debt resolution. This can involve a negotiation between the taxpayer and the IRS. In many cases, the IRS will settle for a payment that is less than what is owed. In other cases, the IRS will agree to settle for a lump sum payment which is often less than what is owed.
All of these professionals have their own specific sets of skills and experiences. When a taxpayer needs relief from their back taxes, these professionals may be the best option. For more information on tax relief, the IRS, and other legal professionals who can assist you, it is important to contact an office that deals with tax debt relief.
You can contact a tax debt relief firm at anytime. The majority of them are very easy to work with. They will prepare your taxes for a fee and represent you in negotiations with the IRS. In many situations, these professionals will even be able to reduce your taxes by 50%.
- Share:
