Tax Attorney — NYC, NY
Finding the Best Tax Attorney in NYC for Your Case
Filing your taxes should be a simple process, but you may need some assistance on difficult financial issues. The need for a tax attorney in NYC has become more apparent, especially if you have become delinquent in paying back taxes to the Internal Revenue Service (IRS), and they are threatening you with legal action.
A lawyer’s guidance and expertise can be quite beneficial to a New York-based business and to those individuals who have filed an incorrect tax return. The tax laws are complicated, and the consequences are dire if you misinterpret them.
For this alone, you may want to consider hiring a tax attorney to handle your financial affairs when dealing directly with the IRS. First, it’s important to define the role of a tax attorney, and contrast that with the role of an Enrolled Agent (EA). Then you can better determine which is the right choice to assist you in such a crisis.
What Credentials Does It Take to Become a Tax Attorney in NYC?
Tax attorneys are licensed professionals who have passed a New York state law exam. This earns them the right to call themselves a specialist in federal, state, and local tax laws and policies. A licensed lawyer can anticipate potential tax outcomes often associated with different business entities. Usually, this pertains to liability and the process of taxation, such as estate transfers, material or intellectual property acquisitions, all sources of income, and the different kinds of business transactions that take place during the fiscal year.
In other words, their experience can help to avoid possible IRS penalties and keep you out of potential legal troubles. Tax attorneys can also represent you or your New York-based business in such legal matters as tax evasion charges. Plus, their knowledge can assist in a consulting business capacity, especially in the area of negotiating a resolution to a dispute prior to a court date.
What is the Role of an Enrolled Agent (EA)?
An IRS Enrolled Agent is a federally licensed tax professional who has the technical experience to represent taxpayers in all disputes with the IRS. Each agent works under the guidelines set by the Department of Treasury.
The main benefit of hiring an EA is they have a clear understanding of the tax code and can alert their clients of any potential issues such as audits, payment collection, and appeals, but they can never be the lead voice in a litigation case. In that type of situation, it’s better to be represented by a tax attorney.
The role of the Enrolled Agent has evolved once a client’s finances have become more complex over time. They can assist with the preparation of all the necessary tax forms and be the chief negotiator in a dispute with the IRS. In most cases, an Enrolled Agent can execute an IRS installment agreement or offer in compromise to create a negotiated way out without having to proceed to court.
Which is Better to Hire: Tax Attorney or an EA?
It’s important to hire the best person available when it comes to handling tax disputes with the IRS because it can be an intimidating process. You have to be honest with yourself on the assessment of your own personal situation. You want to hire someone who can help with your tax problems. Getting an expert, an experienced tax attorney is going to be very beneficial if your IRS troubles appear headed to court.
The majority of all disputes with the IRS are handled at the administrative level. Thus, it’s usually more affordable to hire an Enrolled Agent to handle those situations. Plus, they can help you better understand all relevant tax issues you may face in the future, which tax attorneys rarely delve into too deeply.
Contact True Resolve Tax Professionals and start addressing your own tax issues today. Our IRS Tax Investigation Program is free of charge for new clients as the goal is to determine the next step in resolving your tax issues. If an enrolled agent can resolve your case, we have knowledgeable experts to help. If further legal assistance is needed, we can pair you with the best tax attorney in NYC to help you get the best outcome with the IRS and the State of NY.