5 Reasons Should Retain a Tax Attorney

Dealing with the IRS and lenders during a personal financial crisis can test the nerves of even the most patient individual. When these sort of institutions decide you owe them something, it’s nearly impossible to come out of the fight unscathed.
tax attorney
Both the IRS and the financial industry have nasty reputations when it comes to playing dirty and not relenting in their pursuits. Many of those who find themselves within their sights suffer in more ways than financially and materially.
By retaining a skilled attorney, you are afforded a better chance of winning your battle with the IRS or creditors. Whatever the reasons are behind your financial troubles, everyone has the right to protect themselves from further loss.

1. Filing For Bankruptcy

According to Randolph Law Firm, P.C. bankruptcy laws exist to help you get a fresh start.
If you have a burgeoning amount of credit card debt, mounting medical bills, a mountain of back taxes, or are significantly behind on your mortgage, it can feel as if the world is crumbling around you.
An attorney can help you file for bankruptcy so you can get a fresh financial start and avoid losing everything you’ve worked so hard for.

2. Preventing Home Foreclosures

Annually, thousands of homeowners seek help from attorneys to prevent their home from being foreclosed on.
Attorneys are able to use their in-depth knowledge to find evidence against lenders who fail to abide by the regulations, assist you in obtaining mortgage modifications, among other things.
Dealing with banks or lenders during a potential or impending foreclosure can prove more stressful than some can bear, so going at it alone may result in you missing out on a solution.
At the very least, this will give you the ability to engage in mediation, and hopefully in loan modification, so you and your family can keep your home. And believe it or not, people do succeed in beating foreclosures more often than you think.

3. Stopping IRS Liens and Levies

If you are behind on your taxes or incurred tax penalties, it can be a very serious matter. More often than not, the IRS can garnish your wages or put levies and liens on your property. Tax collectors have the power to take money out of your bank account if need be, leading to serious financial trouble.
A tax attorney can help put a total stop to this, or at the very least, come to a compromise with the IRS, some sort of payment plan to help make your life a bit easier.

4. Fighting an IRS Audit

Another reason why many people seek the help of a tax attorney is to fight an IRS audit.
If you do not have good legal representation, the chances of successfully fighting an audit and the resulting penalties nearly zero.
If the IRS relentless in its campaign, fight fire with fire and hire a savvy and knowledgeable tax attorney

5. Compromises and Payment Solutions

Tax attorneys can help you create an affordable tax payment plan or “compromises.” When you have solid legal representation, the IRS is usually willing to compromise and settle for a partial amount of what they feel you owe.

The Benefits of a Tax Attorney

When all is said and done, when you are fighting the IRS and lenders without legal aid, your chances of winning any case are slim to none. If you want a fighting chance at success, a tax lawyer is something you will absolutely need to look into.

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