Running a business can be stressful because entrepreneurs must handle several issues simultaneously. However, when the shadow of tax fraud charges looms, the load may be too much for business leaders to bear.
This is where a skilled tax lawyer can become your ally. In this blog, we’ll explain why legal support is crucial when facing tax fraud charges. After reading, you can develop a strategy to protect your interests and get through a challenging time.
3 ways a lawyer can help business owners
Hiring a tax attorney offers significant advantages when dealing with complex tax issues, particularly during an Internal Revenue Service (IRS) audit. They have a deep understanding of the law and intricacies of tax disputes. Here are three specific ways they can help:
- Negotiate with the IRS to reduce tax debts: Lawyers are instrumental in negotiating with the agency to reduce substantial tax debts. They can negotiate installment agreements or offers in compromise, potentially saving you significant amounts of money. They can also spot potential liabilities and identify any errors in calculating your tax obligations.
- Ensure your documentation meets IRS requirements: Tax attorneys are familiar with the procedures and documentation requests that government agencies require. Get help from a lawyer to ensure your tax paperwork meets IRS standards.
- Represent you in court, if needed: If the IRS charges you with tax evasion or fraud, you want an experienced attorney to represent you and your business. These charges are serious and, without proper legal representation, could lead to lost assets and livelihood.
A lawyer can provide specific legal advice and guidance during the trial. Additionally, anything you discuss with them is confidential, so you can keep your affairs private.
An experienced tax lawyer can support you
Facing tax fraud charges can be an overwhelming and daunting experience for any business owner. By getting the help of an experienced tax attorney, entrepreneurs can better understand legal procedures and have someone who can negotiate with authorities. Moreover, a tax lawyer can provide guidance to ensure compliance and prevent tax issues in the future.