There are many issues in life that can prove complicated, frustrating, annoying and just downright difficult, and one of the major culprits is tax returns. Taxes and the IRS can prove very difficult topics for the lay person to comprehend, yet failure to understand and comply with the regulations that apply to taxes and the IRS can result in dire consequences, from fines to imprisonment. It is therefore important to understand your responsibility when it comes to filing taxes with the IRS, and you need to ensure that you are up-to-date with current procedures and you know what is required of you. Working with a tax attorney can significantly help to ease the stress that taxes often cause people. Having a tax attorney to handle your tax-related issues will help to ensure that all papers are filed accurately and effeciently, and that any problems that you have encountered are handled by an experienced, skilled professional.
Basically, income tax is paid by everyone that earns money. Taxes are paid every year to the IRS and are based upon a percentage of your income. For those that are employed, the taxes are normally dealt with by the employer so there is no need to worry unless you have reason to believe that you have overpaid or underpaid on taxes. However, those that are self-employed have to deal with their own taxes and IRS returns, and it is these people that must ensure that they have a thorough understanding of what is required of them. When it comes to taxes and the IRS, ignorance is not a valid excuse, and legal action can and is taken in the event of major discrepancies.
Taxes that come from your income are used to fund both the state and federal government, and this cash is injected into a wide variety of areas such as education, recreation, national security, health, housing and other such areas. The IRS gets involved by actually collecting these taxes from the income of all workers. Not all of your income may be taxed – the taxable amount is set by legislators and any allowances or deductibles are taken into consideration before your taxes are calculated.
Failure or refusal to pay taxes on your income is referred to as tax evasion and is strictly illegal. This can be punishable in a number of ways, from heavy fines to imprisonment. The government comes down very heavily on tax evaders these days, and even a simple underpayment in taxes can result in auditing and questioning. This can then lead to a demand for additional taxes for the year, which could run into thousands. The amount demanded – if any – is determined by the conclusion drawn by the auditing tax officer. However, if a demand for cash is made, you may take this to tax court to dispute it. However, the tax court decision is a final one, so if the courts agree that you must pay the additional money, then you must pay it.
The easiest way to deal with a tax law problem is to go through an experienced tax attorney that is well versed with taxation laws. It is important to remember that the law pertaining to taxes and the IRS can change every year, and it is your responsibility to ensure that you are up-to-date with the current laws. Ignorance is not accepted as an excuse, and if the IRS decides to fine you or demand further taxes you will be fully liable whether or not you knew that what you were doing was wrong.
A tax lawyer will help you to work through the problem. Not only can a seasoned legal professional talk you through current tax laws so that you understand them for the future and can identify where you went wrong, but your tax attorney can help in other areas as well. It may be necessary to negotiate repayments of taxes, which is something a tax lawyer can deal with. If you have received a demand for taxes, the tax lawyer will negotiate installments. Perhaps you have not paid taxes to the IRS in a long time, in which case a tax lawyer can help to sort out the problem before it gets out of hand.
Anyone that suspects that they may have a tax problem, or anyone already experiencing the wrath of the IRS is well advised to seek legal assistance. Taxes and the IRS can be difficult to deal with, particularly if you do not have a good understanding of the tax system. However, a qualified and experienced tax lawyer can help you to deal with these issues, and could save you time, trouble, and money in the future.
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