Denver Tax Lawyer
Taxes are an inevitable part of living in this country. While no one enjoys paying taxes, avoiding tax problems and fixing outstanding issues tax issues does not have to be difficult.
If you need help related to your state or federal taxes, would like to dispute a tax assessment, or received an unexpected letter from the IRS, contact a Denver tax lawyer for assistance. A consultation with an experienced attorney could prove to be of great help to your case
Why Hire a Tax Lawyer?
Taxes from citizens help state, federal, and local governments perform functions like build roads and bridges and provide support for the disabled or elderly. While taxes have definite benefits, almost no one wants to pay more than what they legally owe.
In general, people who hire tax lawyers in usually do so for three main reasons: to prevent problems with their taxes, to fix issues that have already occurred, and to complete certain complicated business transactions. A Denver tax lawyer could help individuals, married couples, and businesses organize their finances and take advantage of any relevant exemptions and deductions.
Reducing Fines and Penalties in Denver
Many people only contact a tax attorney after they receive a notice or a letter from the IRS informing them of an issue regarding their taxes. The taxpayer’s return may be delinquent or contain mistakes, or the taxpayer may have underpaid on tax returns in the past.
While receiving a notice from the IRS may be frightening, it is essential to remember that the government sends millions of these letters every year. Some of these notices are incorrect, and taxpayers have the option to dispute or appeal the amount that they owe. However, a taxpayer must respond to these notices within the specified time, or they could lose valuable rights.
If a person fails to respond to a delinquency notice or letter, the IRS can issue fines and penalties, levy liens against their property, or could even pursue criminal charges and jail time. It is often crucial that taxpayers who receive such notices contact a tax lawyer in Denver promptly and review their options.
Preventing Tax Problems
Filing federal and state taxes can be confusing, even with the best tax preparation software. Tax lawyers go beyond just preparation and can help people structure their income and their assets to utilize the exemptions in the tax code fully. For instance, a person who is self-employed or owns their own business may be able to use exemptions for having a home office or using assets that depreciate.
Tax attorneys could also offer advice and make recommendations about the most effective way to minimize an individual’s tax burden. If a person owes taxes to the IRS or Colorado Department of Revenue, a tax lawyer may be able to negotiate a settlement agreement or an installment plan to help the taxpayer pay off the debt over time.
Reducing Tax Penalties and Burdens in Denver
Many people only contact a tax attorney after they receive a notice or a letter from the IRS. These notices usually inform taxpayers of an issue regarding their taxes. The taxpayer’s return may be delinquent or contain mistakes, or the taxpayer may have underpaid on tax returns in the past.
Tax lawyers may also help individuals and businesses complete transactions in a way that reduces their tax burden. For example, a tax lawyer may help an individual create a will, trust, or other estate planning structure that avoids income and estate tax. Companies and business may use tax attorneys to complete the purchase or sale of a business or to purchase other expensive assets.
Contact a Denver Tax Attorney Today
If you received a notice from the IRS or if you owe back taxes, do not wait to take care of the problem. By addressing a delinquency notice or other letter quickly, you may be able to take advantage of payment plans or other ways to reduce your debt. For more information about your rights as a taxpayer, contact a Denver tax lawyer today. The Amy G Injury Firm co-counsels tax issues.