Factors To Consider When Looking For A Tax Attorney.
It is usually a good idea to look for a good tax attorney when dealing with IRS tax debt, when you are overburdened with matters related to tax such as being audited, when you are accused of investment fraud or when dealing with any other issues related to IRS.
There is so much at stake when dealing with tax issues and this is why you need to look for an attorney who specializes in tax law. Therefore, it is important to know how to find a good tax attorney. Here are things you need to consider when looking for a tax attorney;
Before you choose a tax attorney, it is good to ensure that you can afford the cost of legal representation. This is why it is important to consider the attorney’s fee so that you can choose an attorney you can afford.
The actual attorney fee varies depending on factors such as the location, the nature, and complexity of the case. Always remember that attorney fees are usually expensive and knowing what you can afford will help you choose a good lawyer who will meet your needs.
Ask different attorneys about their fee schedule and look for one that fits your situation. Reliable tax attorneys usually require a down payment known as a retainer for work performed. This amount varies depending on the attorney. Part of the retainer will be refunded if the total amount is not used.
Here are the most common fee structures
Fixed or flat rate- This is where specific legal services are covered by set fees
Hourly rate- This is one of the most common fee structures used by tax attorneys. It is based on the time the attorney spends on your case.
Contingency fee- it is a fixed percentage of the amount of recovery the attorney is able to secure. This amount usually serves as the lawyer’s fee. However, there will be other expenses such as court costs, copies, filing fees, phone charges and other related costs that will be your responsibility.
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Experience is a very important thing you need to consider when looking for a good attorney. You have to consider the lawyer’s or a legal firm’s experience in handling tax issues and their success rates. The more experience an attorney has, the better your chances for a speedy and favorable resolution will be.
It is also important to find out about the ratio of cases that went to trial to those that were settled. A good tax attorney knows the loopholes and the ins and outs of the legal field and can strategize an effective legal plan for your case.
Since you will be sharing personal, sensitive and confidential information with your tax attorney, it is good that you look for someone you are comfortable with. If you find that you are not comfortable with the attorney you want to hire, then it is a good idea to look for another attorney.
Ultimately, it is essential to choose an attorney you can trust to represent your interest and bring relief to your tax issues.
A good attorney has a background in tax law, either as a course of study or in service in the IRS. They will also probably have financial experience in some other field such as Certified Public Accounting. Ensure that you choose an attorney who is licensed to represent clients before the IRS.
Finding a good tax attorney can save you from a great deal of stress of having to deal with the IRS. Therefore, it is good that you take your time and choose a reliable attorney. A competent attorney will ensure that all your rights are protected and that you are not ripped off by the IRS.