Things that taxpayers need to know and understand about income taxes

If you are a resident of Tampa, or you are planning to make improvements to your home or business premises in Tampa, do not forget to get in touch with a qualified tax attorney. Tax attorneys assist their clients appropriately navigate and follow the complicated labyrinth of tax laws and properly take full advantage of all the tax benefits, credits, and deductions available to them. They also represent their clients in tax-related disputes with the IRS.


There are many things that taxpaying taxpayers need to know and understand about income taxes. Some of these are the usual tax considerations, while others relate to the complex tax laws. A tax preparer might be a great asset for taxpayers who are new to this area of taxation, as he or she can explain the different tax rules and exceptions in easy to understand terms. While many taxpayers might already be aware of the basics, some might need to brush up on certain provisions of the law. A tax attorney is there to help them achieve their goal of paying less taxes and to maximize the amount of tax deductions that they and their fellow taxpayers are eligible to receive.


Tax audits are not only frustrating but also threatening. When taxpayers find out that they have been audited, they often lose hope that they can legitimately receive a good tax return. Tax audits are particularly troublesome because they involve criminal investigation, legal fees, and potential penalties for the late payments on delinquent taxes. A knowledgeable tax attorney can help taxpayers deal with audits in a professional manner and prevent further damage to their standing with the IRS.


The IRS is known for conducting its examinations quickly and efficiently. However, it also sometimes makes mistakes, which cause tax controversy. As such, taxpayers who become confused by the technical language and complicated instructions included in the Internal Revenue Code can be subject to harassment and even criminal prosecution. A tax attorney can help such clients understand what their rights are under the law and how to best protect them.


Tax attorneys also work with taxpayers who owe taxes but are unsure of the exact amount due. Some taxpayers mistakenly believe that they do not owe the federal tax code any money at all. In fact, they may not owe anything at all, but they may be required to pay a portion of the total outstanding. For example, they may be required to pay taxes for child support or tax credits based upon their state of residence. A tax attorney can help such clients understand the various aspects of the tax code so that they can properly file their returns and pay the requisite amounts. They can also inform clients of any options that exist to resolve tax liabilities.


Tax attorneys can also assist taxpayers who are under investigation for possible audit. Such individuals may be innocent of any wrongdoing, but the Internal Revenue Service (IRS) may disagree. If so, the taxpayer may be subjected to an audit and asked to produce documentation related to his or her taxes. It is in such situations that a tax attorney can make a significant difference. The attorney can review the applicable tax laws to determine whether there is cause for the taxpayer to be investigated. If so, he or she can advise the client on how to respond to the audit in order to preserve his or her tax liability status.