what does a tax attorney do
- Ms. Narina Gasing MM
- 2023 January 03T12:35
- Tax Attorney
A tax attorney is a legal professional who specializes in tax law. Tax law is a complex and constantly changing field that governs how individuals, businesses, and other entities are taxed. Tax attorneys are trained to provide advice and guidance on tax-related matters, as well as represent clients in legal disputes related to taxes.
The following is an overview of what a tax attorney does:
Tax Planning:
One of the primary functions of a tax attorney is to help clients minimize their tax liability through careful tax planning. Tax attorneys work with individuals and businesses to develop strategies that take advantage of tax breaks and deductions, while avoiding legal pitfalls.
For individuals, tax attorneys may help with estate planning, retirement planning, and charitable giving. They can also assist with tax planning for high net worth individuals, who may have complex investment portfolios, business interests, and international tax concerns.
For businesses, tax attorneys may help with structuring transactions, managing tax risk, and complying with complex tax laws and regulations. They can also assist with tax planning for mergers and acquisitions, corporate reorganizations, and international operations.
Tax Controversies:
Tax attorneys also represent clients in legal disputes with tax authorities, such as the Internal Revenue Service (IRS) or state tax agencies. These disputes can arise from audits, investigations, or other enforcement actions related to taxes.
Tax attorneys can represent clients in administrative proceedings, such as appeals of IRS or state tax assessments, as well as in court proceedings, such as tax litigation. They can also help negotiate settlements with tax authorities and advocate for clients in tax dispute resolution programs, such as the IRS's Appeals program or the U.S. Tax Court's Small Cases Division.
Tax Compliance:
Tax attorneys can also help clients comply with tax laws and regulations. This can include preparing tax returns, conducting internal audits, and implementing compliance programs.
For businesses, tax attorneys may help with tax compliance for sales and use taxes, payroll taxes, and other state and local taxes. They can also assist with compliance for federal taxes, such as income taxes and employment taxes.
For individuals, tax attorneys can help with tax compliance for income taxes, estate and gift taxes, and other taxes that may apply to their particular situation.
Tax Policy:
Tax attorneys can also work on tax policy issues, either in government or in advocacy organizations. Tax policy involves the development and implementation of tax laws and regulations at the federal, state, and local levels.
In government, tax attorneys may work for agencies such as the IRS, the U.S. Department of Treasury, or state tax departments. They can also work for legislative bodies, such as Congress or state legislatures, to develop tax policy.
In advocacy organizations, tax attorneys may work for nonprofits, think tanks, or industry groups to promote policies that align with their organization's mission or interests.
International Tax:
Finally, tax attorneys can specialize in international tax issues. International tax involves the tax laws and regulations that apply to individuals and businesses operating across borders.
International tax attorneys may help businesses with cross-border transactions, such as mergers and acquisitions, transfer pricing, and cross-border financing. They can also assist with international tax planning for high net worth individuals, who may have assets or income in multiple countries.
International tax attorneys may also help clients navigate complex international tax treaties, resolve disputes with foreign tax authorities, and comply with international tax reporting requirements.
Conclusion:
In conclusion, a tax attorney is a legal professional who specializes in tax law. Tax attorneys help clients with tax planning, tax controversies, tax compliance, tax policy, and international tax issues. Tax law is a complex and constantly changing field, and tax attorneys are trained to provide advice and guidance on tax-related matters, as well as represent clients in legal disputes related to taxes.
