Tax Attorney Georgia: When Should You Hire One?
Tax Attorney Georgia: When Should You Hire One?
Tax attorneys have specialized knowledge and experience in tax law, which allows them to provide valuable advice and guidance on tax-related matters. They can help you navigate complex tax laws and regulations, and develop strategies to minimize your tax liabilities. Tax attorneys can represent you in tax disputes with the IRS or the Georgia Department of Revenue. They can help you negotiate settlements, challenge tax assessments, and defend you in court if necessary. Tax attorneys can protect your legal rights during tax audits and investigations. They can ensure that the IRS or Georgia Department of Revenue follows proper procedures, and that your interests are protected throughout the process. Tax attorneys can help you develop tax-efficient business structures and strategies that can help you save money on taxes. They can also provide guidance on tax implications of business decisions such as mergers, acquisitions, and reorganizations.
How To Choose A Good Tax Attorney in Georgia
Choosing a good tax attorney in Georgia can be a daunting task, but here are some tips that can help you make an informed decision:
- Look for Credentials: Look for a tax attorney who has the necessary credentials such as a law degree, admission to the Georgia State Bar, and relevant tax law experience.
- Specialization: Choose a tax attorney who specializes in tax law and has experience in dealing with tax-related matters in Georgia. Tax laws and regulations can vary by state, so it is important to choose an attorney who is familiar with Georgia’s tax laws and procedures.
- Reputation: Look for an attorney with a good reputation in the legal community. You can research online reviews, check with the Georgia State Bar, or ask for referrals from friends, family, or colleagues.
- Availability: Choose an attorney who is accessible and responsive to your needs. A good tax attorney should be available to answer your questions, provide regular updates on your case, and be willing to discuss your options.
- Fees: Consider the attorney’s fee structure and make sure it is reasonable and transparent. You should also discuss the expected costs and fees upfront before engaging their services.
- Consultation: Schedule a consultation with the tax attorney before making a decision. During the consultation, you can assess their communication style, knowledge, and experience in tax law, and determine if they are a good fit for your needs.
Seeking A Tax Attorney In Your City?
Here are the top 5 biggest cities in Georgia by population:
- Atlanta – With a population of approximately 498,715, Atlanta is the capital city of Georgia and the largest city in the state.
- Augusta – Located in the east-central part of Georgia, Augusta has a population of approximately 197,166 and is known for hosting the annual Masters golf tournament.
- Columbus – Located in western Georgia near the Alabama border, Columbus has a population of approximately 195,739 and is home to Fort Benning, a large U.S. Army post.
- Savannah – Located on the Atlantic coast in eastern Georgia, Savannah has a population of approximately 147,441 and is known for its historic downtown area and coastal charm.
- Athens – Located in northeastern Georgia, Athens has a population of approximately 126,913 and is home to the University of Georgia, the state’s flagship public university.
Common Fees For Tax Attorneys in Georgia
The fees for tax attorneys in Georgia can vary depending on various factors, such as the complexity of the case, the attorney’s experience, and the location of their practice. Here are some common fee arrangements used by tax attorneys in Georgia:
- Hourly Fee: Many tax attorneys charge an hourly fee, which can range from $200 to $500 per hour or more, depending on their experience and the complexity of the case. The attorney will bill you for the time they spend working on your case, including research, consultations, drafting documents, and court appearances.
- Flat Fee: Some tax attorneys may offer a flat fee arrangement for certain types of services, such as preparing tax returns, filing for an offer in compromise, or representing you during an audit. The flat fee will be agreed upon upfront, and it will not change regardless of the amount of time or work required.
- Contingency Fee: In some cases, tax attorneys may offer a contingency fee arrangement where they will only receive a fee if they are successful in obtaining a favorable outcome for you. The fee is usually a percentage of the amount you save in taxes, penalties, or interest.
- Retainer Fee: Some tax attorneys may require you to pay a retainer fee upfront to secure their services. The retainer fee is usually a lump sum amount that is deposited in a trust account and will be used to pay for the attorney’s fees and expenses as they arise.
It is important to discuss the fee arrangement with your tax attorney upfront and ensure that you fully understand their billing practices and what services are covered.
Common Individual Tax Issues
Here are some common individual tax issues that taxpayers may face:
- Filing late or not at all: Failure to file a tax return or filing it late can result in penalties and interest charges. It is important to file your tax return on time or request an extension if you cannot file by the due date.
- Underpayment of taxes: If you did not pay enough taxes throughout the year, you may be subject to penalties and interest charges. It is important to estimate your tax liability and make timely payments to avoid underpayment penalties.
- Misreporting income: Failure to report all income, including wages, tips, and investment income, can result in penalties and interest charges. It is important to review all tax documents, including Forms W-2 and 1099, to ensure that you report all income accurately.
- Claiming improper deductions or credits: Claiming deductions or credits that you are not entitled to can result in penalties and interest charges. It is important to understand the eligibility requirements for deductions and credits and keep accurate records to support your claims.
- Filing a fraudulent return: Filing a fraudulent tax return, including claiming false deductions or credits, can result in civil and criminal penalties. It is important to be honest and accurate when preparing your tax return.
- Facing an audit or examination: The IRS may select your tax return for an audit or examination, which can be a time-consuming and stressful process. It is important to keep accurate records and be prepared to provide documentation to support your tax return.
- Owing back taxes: If you owe back taxes, penalties, or interest, the IRS can take collection actions such as wage garnishment, bank levies, or filing a tax lien. It is important to work with the IRS to resolve any outstanding tax liabilities and establish a payment plan if necessary.
Corporate Tax Issues
Here are some common corporate tax issues that businesses may face:
- Filing late or not at all: Failure to file a corporate tax return or filing it late can result in penalties and interest charges. It is important to file the return on time or request an extension if you cannot file by the due date.
- Underpayment of taxes: If a corporation did not pay enough taxes throughout the year, it may be subject to penalties and interest charges. It is important to estimate the corporation’s tax liability and make timely payments to avoid underpayment penalties.
- Misreporting income: Failure to report all income, including revenue from sales, services, and investments, can result in penalties and interest charges. It is important to review all tax documents and financial records to ensure that all income is reported accurately.
- Improper accounting methods: Using improper accounting methods or failing to maintain adequate records can result in penalties and interest charges. It is important to use accounting methods that accurately reflect the corporation’s income and maintain proper records to support the tax return.
- Claiming improper deductions or credits: Claiming deductions or credits that the corporation is not entitled to can result in penalties and interest charges. It is important to understand the eligibility requirements for deductions and credits and keep accurate records to support the claims.
- Filing a fraudulent return: Filing a fraudulent tax return, including claiming false deductions or credits, can result in civil and criminal penalties. It is important to be honest and accurate when preparing the corporate tax return.
- Facing an audit or examination: The IRS may select a corporate tax return for an audit or examination, which can be a time-consuming and stressful process. It is important to keep accurate records and be prepared to provide documentation to support the tax return.
- Complex tax regulations: The tax code and regulations that apply to corporations can be complex and constantly changing. It is important to stay up to date with tax law changes and work with a qualified tax professional to ensure compliance with all applicable tax rules and regulations.
Common Tax Resolutions
Here are some common tax resolutions that taxpayers may pursue to resolve tax issues:
- Installment agreement: An installment agreement allows taxpayers to pay their tax liability over time in regular, manageable payments. This is an option for taxpayers who cannot pay their entire tax bill immediately.
- Offer in compromise: An offer in compromise allows taxpayers to settle their tax debt for less than the full amount owed. This option is available for taxpayers who cannot pay their full tax liability or who dispute the amount owed.
- Innocent spouse relief: Innocent spouse relief is an option for taxpayers who were unaware of or not responsible for the tax liability of their spouse or ex-spouse.
- Penalty abatement: Penalty abatement allows taxpayers to request relief from penalties assessed on their tax liability. This option is available for taxpayers who can demonstrate reasonable cause for their failure to comply with tax laws.
- Currently not collectible: Currently not collectible status allows taxpayers to temporarily suspend collection activities by the IRS due to financial hardship. This is an option for taxpayers who cannot pay their tax liability and cannot afford to make payments under an installment agreement.
- Audit reconsideration: Audit reconsideration is an option for taxpayers who disagree with the results of an IRS audit. This allows taxpayers to provide new information or correct errors on their tax return.
- Statute of limitations expiration: The statute of limitations limits the amount of time the IRS has to collect a tax debt. If the statute of limitations expires, the IRS can no longer collect the debt.
Risks of Using a Tax Attorney in Georgia
While hiring a tax attorney in Georgia can provide many benefits, there are also some risks to be aware of. Here are some potential risks associated with using a tax attorney:
- Cost: Hiring a tax attorney can be expensive, and their fees can quickly add up. It is important to discuss fees upfront and understand the scope of work the attorney will perform to avoid unexpected costs.
- Unresolved issues: There is no guarantee that a tax attorney will be able to resolve your tax issues. While they can provide advice and representation, the outcome of your case ultimately depends on a variety of factors, including the strength of your case and the decisions of the IRS or state tax authorities.
- Legal complications: If your tax issues are complex, there is a risk that legal complications may arise during the resolution process. This can lead to delays, additional costs, and even legal disputes.
- Ethical concerns: Not all tax attorneys are reputable or ethical. It is important to research potential attorneys, check their credentials, and read reviews to ensure that they are trustworthy and competent.
- Communication issues: Poor communication between you and your tax attorney can lead to misunderstandings, delays, and unsatisfactory outcomes. It is important to establish clear lines of communication and discuss expectations upfront to avoid these issues.
When Do You Really Need a Tax Attorney?
If you are accused of tax fraud or evasion, it is in your best interest to hire a tax attorney. A tax attorney can represent you in legal proceedings and help you navigate the complex criminal and civil penalties that may apply. If you have a complex estate, it is also recommended to hire a tax attorney. A tax attorney can provide guidance on how to minimize estate taxes and transfer assets to heirs in a tax-efficient manner.
When is a Tax Relief Company Better Than a Tax Attorney?
Tax relief companies and tax attorneys offer different services. Tax relief companies specialize in negotiating with the IRS and states on behalf of taxpayers who owe back taxes, penalties, and interest. These companies often have a team of tax professionals, including enrolled agents and tax preparers, who work to negotiate payment plans or settlements with the IRS. They may also provide assistance with preparing and filing tax returns, obtaining tax transcripts, and addressing other tax-related issues. There are situations where a tax relief company may be more beneficial than a tax attorney. Here are a few examples of where a tax relief company may be a better option:
- Your tax debt is under $250K: If you owe less than $250K to the IRS, a tax relief company may be a better option than a tax attorney. Tax relief companies can negotiate with the IRS to reduce or eliminate penalties and interest, and set up an affordable payment plan that works for you.
- You need help with tax preparation: Tax relief companies often offer tax preparation services, which can be beneficial for individuals or businesses who need help filing their taxes correctly. This can help you avoid future tax problems and penalties.
- You want to avoid the high cost of a tax attorney: Tax attorneys can be expensive, and their hourly rates can quickly add up. A tax relief company may offer more affordable options, such as a flat fee for their services.
Benefits of Using an Experienced Tax Relief Firm
There are several benefits to using an experienced tax relief firm for help with tax issues, including:
- Expertise: Experienced tax relief firms have a deep understanding of tax laws and regulations, as well as the procedures and policies of the IRS and state tax authorities. They can provide expert advice on how to resolve your tax issues and help you navigate the complex tax system.
- Representation: Tax relief firms can represent you in dealings with the IRS or state tax authorities. They can communicate with these agencies on your behalf and negotiate the best possible outcome for your tax issues.
- Range of services: Experienced tax relief firms can offer a range of services, including tax preparation, audit representation, installment agreements, and other tax relief options. This can provide a comprehensive solution to your tax issues.
- Save time and stress: Dealing with tax issues can be time-consuming and stressful. By hiring an experienced tax relief firm, you can save time and reduce stress by letting them handle the complex and technical aspects of your tax issues.
- Better outcomes: Using an experienced tax relief firm can result in better outcomes for your tax issues. They can use their expertise and experience to negotiate favorable terms with the IRS or state tax authorities and help you achieve the best possible resolution for your tax issues.
CuraDebt Tax Is At Your Service
If you are a resident of Georgia who needs help resolving tax debt issues, we are here to help. We have 22 years of experience helping clients with numerous tax related issues. Contact us toll free today for your free consultation. Or submit here online for a free consultation. We will find the best resolution available to you based on your financial situation. 1-877-999-0486