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Colorado Springs is a great place to live, raise a family, grow up, start a business, and earn money. When you earn a lot of money, you have to pay taxes. A skilled and experienced tax attorney can help you minimize the amount of taxes you pay and make certain your tax filing is legal.
We’ve got terrific revenue sources and international industrialization as well as beautiful nature that make it one of the best places in the country to live. With the high levels of entrepreneurship in our city, it’s no wonder that the people of Colorado Springs may someday need a tax attorney.
But, what does a tax attorney do? It’s easy for most people to confuse them with certified public accountants who file your taxes because their fields often intersect. And, it’s not uncommon for tax attorneys to employ CPAs for the nuts and bolts of their operation.
In this article, we’ll explore the difference between the two, and give you a few points on what to look for in a legitimate tax attorney.
If you find yourself in need of a tax attorney for whatever reason, do your homework. A reasonable tax attorney will be happy to provide you with references to check. If you check with these references and do thorough research, you should have a good idea of how effective they are.
Like other types of attorneys, tax attorneys have particular specialties. Consult with any prospective attorney and make sure that they’ve handled cases and situations like yours before with positive results. Not every tax situation is the same, so one attorney may be great at setting up businesses while they’ve never worked in a courtroom before.
Certified public accountants will file your taxes for you and help you make sense of your business finances. But, an attorney studies and understands the underpinnings of tax law. They’ll advise you when, and if, you have legal cause to sue the IRS for damages due to their treatment of your tax returns.
Suing the IRS is a daunting prospect. The IRS has a lot of resources. So, make sure your tax attorney has experience succeeding in these sorts of cases before you hire them.
If they find a reason to believe you’ve claimed exemptions or deductions on unsupported tax statements, the IRS can bring federal charges against you. Tax fraud means that the IRS believes you’ve filed exemptions or deductions that you have no right to claim. They’re serious business, which can result in hefty fines or even jail time.
You’ll need a competent tax attorney to make sense of these charges and mount a vigorous defense, or risk the consequences.
Starting a new business doesn’t always require complicated legal proceedings and filings. Sole proprietor businesses in the Colorado Springs area can often file simple paperwork announcing their business and setting it up. But, if you’re opening a partnership or a corporation, a qualified tax attorney can help you follow all the applicable laws and regulations.
Starting up a new business is one of the most common reasons to employ a tax attorney.
Colorado Springs taxpayers may wonder when to hire a tax resolution service like Tax Shark. We advise taxpayers to contact to a tax resolution service at (719) 259-1334 as soon as they receive a notification of any wrongdoing including pending or emerging tax debts.
Calling a reliable tax attorney in Colorado Springs is as easy as doing a quick search and making a phone call. They work in tandem with CPAs but specialize primarily in the legal aspects of taxes as opposed to understanding one’s financial accounts. If you need legal insight into your tax contribution, call a tax attorney like Tax Shark today.