Useful Tips to Select the Right Tax Lawyer
by George Anderson Experience Serenity in Burton: Houses for Sale ThaWhen starting a
business or moving abroad, you have to deal with complex tax regulations.
Dealing with taxation isn’t simple without the help of an expert. Whether
you’re being investigated by the Internal Revenue Service or need a
cross-border tax plan, hiring a professional tax lawyer is the best option.
Hiring a tax professional is a smart decision because these tax experts provide
a range of services. A tax lawyer makes sure that you comply with the tax laws
and prevent IRS audits or penalties. Moreover, they have knowledge of the U.S.
& Canadian tax system to help you avoid double taxation and ensure that you
avail every available deduction opportunity. Hiring a tax lawyer is a good
choice but finding the right professional can be tricky. This is because not
all tax preparers are the same. You could find professionals with several
designations such as certified public accountants, enrolled agents, tax
lawyers, and more. It is normal to get confused about how to hire the right
one.
How to Choose the
Right Tax Professional?
Before you start
looking for a tax specialist, you should first consider your specific needs.
You can find hundreds of professionals with an IRS Preparer Tax Identification
Number (PTIN). However, just because a professional is licensed to offer
services it doesn’t guarantee their expertise. Professionals differ from each
other based on their levels of skills, education, pricing, and expertise. You
may need a tax lawyer for two purposes- tax planning or handling tax
controversy. Whether you want to minimize tax liabilities or handle an IRS
audit, here are some tips to choose the right tax lawyer.
1. Schedule a Meeting
Based on factors
like credentials and services offered, you need to shortlist a few
genuine-looking tax law firms. You can learn more about their experience and
reliability by reading online reviews and checking the rating. However, to get
a clear idea, always fix a meeting because nothing beats a personal
conversation. You should start looking for a professional during tax season.
Whether you schedule a phone call, video conference, or in-person meeting,
always be ready with your questions. You need to get answers to questions such
as how many years of experience you have in cross-border
taxation, what steps you take to keep your data secure, how
many clients you have, do you charge a flat fee per form or an hourly rate,
etc. The answers to such relevant questions will help you narrow down the
options.
2. Compare Fees
Choosing a tax
lawyer based on the lowest fee isn’t the right choice. Price alone shouldn’t be
deciding factor. However, if their fee is out of budget, there’s nothing much
you can do. So, get quotes and compare fees to shortlist those who offer
reasonable prices. Tax professionals provide a range of services such as
handling IRS audits, litigation, representation before the IRS, and tax debt
resolution, along with estate planning, corporate tax, real estate tax, tax planning, and
more. Their fee could depend on the type of services you need.
3. Check Red Flags
Not all tax
preparers are legitimate. Even if the professional is licensed, you should look
for some red flags that indicate the person is incompetent or unreliable. The
most common warning sign is something that sounds too good to be true. Someone
making extraordinary promises should raise a red flag. Another issue could be
refusing to sign the returns they file. You should also avoid those who don’t
have any permanent business address or official website. In the event of an IRS
audit, you need to make sure that the preparer will be easy to find.
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Created on Apr 9th 2024 03:41. Viewed 47 times.