One of the things that may be consistently on your mind is how to pay fewer taxes at the end of the year. Regardless of the type of work you do, you will legally be required to pay federal and state taxes if you make a certain amount of money. Knowing specific things about what a tax attorney can do for you may be helpful to understand fully.
Answer an IRS Audit
One of the last things you may want to see in the mail is a letter from the Internal Revenue Service (IRS). This is typically an indication that there is a problem with your taxes. It's common for the IRS to audit individuals over time, and if you receive an audit notification letter, you must respond to it.
It's in your best interest to obtain the services of a tax attorney who is fully aware of the laws surrounding taxes and audits. This will allow you to get the absolute best results when it comes to getting through this request from the IRS.
Calculate Self-Employment Taxes
If you work for yourself, you may be a bit confused about the amount of money that's necessary to pay the IRS. You will need to pay your portion of social security taxes and the employer's portion, as well.
It's also necessary for you to pay the amount of federal and state taxes that will be due. Your tax attorney can complete all of this for you, and you'll simply need to write a check for the amount you owe.
Keep You Out of Jail
In the event that you fail to file your taxes or that you don't complete an audit in the required amount of time, you may be faced with severe penalties. In some cases, these could be as serious as requiring you to spend a long time in jail.
A tax attorney is fully aware of what to do in order to prevent you from going to jail and can provide you with expert advice on the precise steps you need to take to avoid this serious problem immediately.
There are numerous ways a tax attorney can assist you with any tax issue or question you may have regarding your business or individual taxes. Be sure to contact a professional tax attorney, like LaSpada, Anthony J. PA, if you're faced with the need to do so during any time of the tax season or year.
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