Across Newark, accountants and attorneys understand the high taxation placed on taxpayers and they are prepared to assist when needed. In the multifaceted world of taxation, tax attorneys are the dependable source for tax representation. Accountants are characteristically the trusted source for businesses and individuals for financial and tax consultation. Conversely, for the times the law is concerned, a tax attorney is the key to a positive resolution. Fighting the IRS is not the strength of an accountant, but the playground of an expert tax attorney. Tax attorneys are the best option for handling complex, technical and legal issues associated with tax circumstances. Typically, a tax attorney is asked to step in after a problem has occurred, however, advanced tax consultation is available to avoid potential problems.
Newark taxpayers tend to procrastinate and wait till a problem occurs to contact a tax attorney, which it’s not a good idea to wait till the last minute. Ideally, before tax complications occur. Contact a tax attorney when the IRS is sending notifications of past due tax debt. The Internal Revenue Service has many stratagems at its disposal for collection, including:
- Tax Liens
- Tax Levies
- IRS Bank Levies
- IRS Wage Garnishment
- Unpaid Taxes
- Penalties and Interest
- IRS Notices
Remember, the IRS has many areas with tax implications for both individuals and businesses. Surprisingly, many taxpayers do not understand Estates must file returns. Personal and Commercial income taxes, estate taxes, and any area addressed by the tax code is a prime target for IRS infiltration and examination. Any of these is reason to call the trusted Newark tax attorneys at Tax Relief Systems.
An unaddressed taxable estate, upon death, has a potential 40% tax on the balance for heirs. As of 2017, the estate tax threshold is $5.49 million single or $10.98 million married, which usually increases annually. Any balance above the threshold is subject to an estate tax. This is where a tax attorney can help by devising an estate-planning strategy focused on maintaining the estate below the exemption threshold and avoid a huge portion filling the government coffers.
Starting a business is stressful, but do you know the tax implications of your business structure? The type of business entity you set up will have tax ramifications. A Newark tax attorney can provide valuable advice and direction.
The most important reason for contacting a tax attorney is if you plan to sue the IRS, under criminal tax investigation, pursue independent review of your case before the U.S. Tax Court, or other IRS tax problems. In this circumstance, you’ll want someone who is familiar with a courtroom and negotiation. Legal representation is especially needed if you’ve committed tax fraud, such as claiming deductions or credits you weren’t entitled to. The attorney client privilege applies whereas for accounts it does not always. Other reasons recommended to seek the assistance of a Newark tax attorney are:
- New Jersey Sales and Use Tax Audits
- Installment Payment Plans
- Tax Levies, Garnishment and Seizures
- Innocent Spouse Representation
- Jeopardy Assessments
- Discharge of Taxes in Bankruptcy
- IRS Appeals Hearings
- Audit Representation
- Independent Contractor Determinations
- Tax Court Representation
- Offers in Compromise
- Employment/payroll tax representation
- Trust Fund Recovery Penalty
- Non-filer Representation
- Estate Tax Audits
- Penalty and Interest Abatement
Do not wait until a problem arises to contact one of Tax Relief Systems’ tax attorneys. We are here to help and we pride ourselves in the successful positive representation of every client. Call us at 424-264-5854 or contact us through our online form and one of our attorneys will contact you personally.