Tax Attorney Ohio: Important Things To Know

Tax Attorney Ohio: Important Things To Know

Tax attorneys have specialized knowledge and training in tax law, including federal and state tax codes, regulations, and procedures. They can help you navigate complex tax laws and regulations, and provide guidance on tax planning and compliance. A tax attorney can represent you in IRS audits and investigations, protecting your rights and interests. They can help you prepare and submit documents, negotiate with the IRS, and provide legal advice throughout the process. A tax attorney can help you develop tax planning strategies that minimize your tax liability and maximize your deductions. They can help you identify tax-saving opportunities, such as credits and deductions, and advise you on the tax implications of different business decisions. If you need to go to tax court, a tax attorney can represent you and advocate on your behalf. They can help you prepare for court, present your case to the judge, and argue for a favorable outcome.

How To Choose A Good Tax Attorney in Ohio

Choosing a good tax attorney in Ohio can be a daunting task. Here are some key factors to consider when making your selection:

  • Experience: Look for a tax attorney who has experience in the area of tax law relevant to your needs. For example, if you are facing an IRS audit, look for an attorney who has experience representing clients in audits.
  • Qualifications: Make sure the tax attorney you choose is licensed to practice law in Ohio and has a strong educational background. Check if they are a member of any relevant professional organizations, such as the American Bar Association Section of Taxation.
  • Reputation: Research the attorney’s reputation by reading reviews, checking their ratings on professional directories, and asking for referrals from friends, family, or other professionals.
  • Communication: Choose a tax attorney who communicates clearly and promptly. You want an attorney who will keep you informed throughout the process and respond to your questions and concerns in a timely manner.
  • Fees: Be sure to understand the attorney’s fee structure upfront, including hourly rates, retainer fees, and other costs. Look for an attorney who is transparent about their fees and who provides you with an estimate of the total cost of your case.
  • Compatibility: Choose a tax attorney with whom you feel comfortable working. You want an attorney who listens to your needs, understands your goals, and works with you to develop a plan of action that meets your needs.

Seeking A Tax Attorney In Your City?

The five biggest cities in Ohio, based on population, are:

  • Columbus – The state capital and largest city in Ohio, with a population of over 900,000 people.
  • Cleveland – The second largest city in Ohio, located on the shore of Lake Erie, with a population of over 380,000 people.
  • Cincinnati – The third largest city in Ohio, located in the southwestern corner of the state, with a population of over 300,000 people.
  • Toledo – The fourth largest city in Ohio, located in the northwestern part of the state, with a population of over 270,000 people.
  • Akron – The fifth largest city in Ohio, located in the northeastern part of the state, with a population of over 198,000 people.

Common Fees For Tax Attorneys in Ohio

Tax attorneys in Ohio typically charge an hourly rate, which can vary depending on the attorney’s experience and expertise, as well as the complexity of the case. The hourly rates can range from $200 to $600 or more per hour. In addition to the hourly rate, tax attorneys may charge a retainer fee, which is an upfront payment for their services. Retainer fees can range from a few thousand dollars to tens of thousands of dollars. Other common fees for tax attorneys in Ohio may include:

  • Flat fees for specific services, such as preparing tax returns or negotiating a settlement with the IRS.
  • Contingency fees, where the attorney’s fee is a percentage of the amount of money they save you in taxes or penalties.
  • Expenses, such as travel expenses, court filing fees, and other costs associated with your case.

It’s important to discuss the attorney’s fee structure upfront and get a clear understanding of the total cost of their services before hiring them. Be sure to ask for a written fee agreement that outlines all of the fees and expenses associated with your case.

Common Individual Tax Issues

Here are some common individual tax issues that people may face:

  • Failure to file or pay taxes on time: This is a common issue that can lead to penalties and interest charges.
  • Underpayment of estimated taxes: If you are self-employed or have other sources of income that are not subject to withholding, you may need to make estimated tax payments throughout the year. Underpayment of estimated taxes can result in penalties and interest charges.
  • Incorrectly claiming deductions or credits: If you claim deductions or credits that you are not entitled to, you may face penalties and interest charges.
  • Unreported income: Failure to report all of your income, including income from sources such as freelance work or rental property, can lead to penalties and interest charges.
  • Audits: The IRS may audit your tax return to verify that the information you provided is accurate. This can be a time-consuming and stressful process, especially if you do not have the proper documentation to support your claims.
  • Identity theft: Tax-related identity theft occurs when someone uses your Social Security number to file a fraudulent tax return in your name. This can result in delays in receiving your tax refund and may require you to take steps to protect your identity.
  • Estate and gift tax issues: If you receive a large inheritance or give gifts above a certain threshold, you may be subject to estate or gift taxes.

Corporate Tax Issues

Here are some common corporate tax issues that businesses may face:

  • Failure to pay taxes on time: This can result in penalties and interest charges.
  • Failure to file required tax returns: All corporations are required to file tax returns, even if they did not have any income during the year. Failure to file can result in penalties and interest charges.
  • Incorrectly claiming deductions or credits: If a corporation claims deductions or credits that they are not entitled to, they may face penalties and interest charges.
  • Transfer pricing issues: This occurs when a corporation sells goods or services to a related party at a price that is not consistent with fair market value, in order to shift profits to a lower tax jurisdiction.
  • State and local tax issues: Corporations may face state and local tax issues, such as sales and use taxes, property taxes, and other taxes and fees imposed by local governments.
  • Audits: The IRS may audit a corporation’s tax return to verify that the information provided is accurate. This can be a time-consuming and stressful process, especially if the corporation does not have the proper documentation to support their claims.
  • International tax issues: If a corporation has operations or investments in foreign countries, they may face complex international tax issues, such as foreign tax credits, transfer pricing, and compliance with foreign tax laws.

Common Tax Resolutions

Here are some common tax resolutions that individuals and businesses may pursue to resolve tax issues:

  • Installment agreements: This is a payment plan that allows taxpayers to pay their tax debt over time, rather than in one lump sum. The terms of the agreement will depend on the taxpayer’s financial situation and the amount of the tax debt.
  • Offer in compromise: This is an agreement between the taxpayer and the IRS to settle the tax debt for less than the full amount owed. The IRS will consider the taxpayer’s ability to pay, income, expenses, and assets when determining whether to accept an offer in compromise.
  • Penalty abatement: The IRS may waive penalties for taxpayers who have a reasonable cause for failing to file or pay their taxes on time. Reasonable cause may include illness, natural disaster, or other circumstances beyond the taxpayer’s control.
  • Innocent spouse relief: This is a way for taxpayers to avoid joint and several liability for tax debt that was incurred by their spouse or former spouse.

Risks of Using a Tax Attorney in Ohio

While there are many benefits to using a tax attorney in Ohio, there are also some potential risks to be aware of:

  • Cost: Hiring a tax attorney can be expensive, especially if you have a complex tax issue that requires a lot of time and effort to resolve.
  • Lack of guarantees: There are no guarantees that a tax attorney will be able to resolve your tax issues or achieve the outcome you desire. While they can provide legal advice and guidance, ultimately the decision rests with the IRS or other tax authority.
  • Ethical concerns: It’s important to ensure that the tax attorney you hire is reputable and ethical, as there have been cases of attorneys engaging in unethical or illegal practices, such as overcharging clients or making false promises.
  • Limited scope of representation: A tax attorney’s representation may be limited to certain aspects of your tax issue, such as responding to IRS notices or negotiating a settlement. They may not be able to represent you in tax court or other legal proceedings.
  • Lengthy process: Resolving a tax issue can be a lengthy process, especially if it involves litigation or negotiations with the IRS. It’s important to be patient and realistic about the timeline for resolving your tax issue.

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.

Tax Attorney or Tax Relief Firm: Know Your Options

Benefits of Using an Experienced Tax Relief Firm

Using an experienced tax relief firm can have several benefits, including:

  • Knowledge and expertise: Experienced tax relief firms have extensive knowledge and expertise in dealing with tax issues. They have a thorough understanding of tax laws, regulations, and procedures, and can provide expert guidance and advice to help resolve your tax issues.
  • Representation: Tax relief firms can represent you in dealing with the IRS or other tax authorities. They can communicate with the IRS on your behalf, respond to notices and inquiries, and negotiate with the IRS to resolve your tax issues.
  • Comprehensive services: Experienced tax relief firms offer comprehensive services, including tax preparation, audit representation, tax planning, and resolution of tax issues such as back taxes, penalties, and liens.
  • Time-saving: Resolving tax issues can be time-consuming and stressful. Using a tax relief firm can save you time and energy, as they can handle all aspects of your tax issue, leaving you free to focus on other aspects of your life or business.
  • Improved chances of success: Experienced tax relief firms have a track record of success in resolving tax issues for their clients. They can leverage their knowledge and expertise to help you achieve the best possible outcome in your tax case.

CuraDebt Tax Is At Your Service

If you are a resident of Ohio 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

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