An IRS audit can be an intimidating experience for all taxpayers, including those who are merely concerned about an unpaid tax bill, said Virginia’s best tax attorney. Some taxpayers are even chosen for an audit merely because of their involvement with questionable financial activity on their part. But this isn’t always the case.
When a taxpayer receives a notice of an IRS tax audit, their first thought may be to hide. However, hiding is not an option. A skilled Denver tax fraud attorney can help taxpayers defend against excessive tax scrutiny. The attorney can also assist in preparing the necessary tax forms and records to fight the IRS before the audit even begins. In addition, the tax lawyer may also be called in to discuss other options with the taxpayer to resolve the back taxes. These include settlement or payment arrangements with the IRS. To hire and discuss with tax lawyer, contact a Denver tax fraud attorney as soon as possible at www.coloradotaxattorneys.net/tax-fraud-defense-denver-co/.
Hiring tax lawyers to handle your IRS audit defense cases is a good idea if you feel that your situation is hopeless. It’s important that you know you have professional assistance on your side. For instance, tax fraud defense is a difficult issue. If you’ve made mistakes in the past that have been discovered, you’ll need to explain those mistakes to the tax lawyer. Otherwise, admitting guilt won’t do anything to ease your tax problems. By having tax law experts on your side from the very beginning, you’ll be able to get everything sorted out as soon as possible.
Generally speaking, there are several ways in which a taxpayer could face criminal penalty if she or he is subjected to an IRS tax liability investigation. If a taxpayer has failed to pay the necessary taxes for three consecutive years, the government can refer the matter to the Federal Tax Lien Office for civil action. The penalties associated with a criminal investigation can include imprisonment for up to one year, hefty fines, and the loss of tax benefits.
Sometimes the IRS can also choose not to prosecute taxpayers. In these cases, a tax audit attorney might be appointed. Many states have a statue of limitations that prevents them from prosecuting tax liens more than three years after the event occurred. Even then, it’s often possible for taxpayers to secure an audit defense lawyer and get their cases resolved before their jail time expires.
No matter what happens during the audit process, a tax lawyer can help you. This is true regardless of whether you owe taxes or not. If you’re uncertain whether you’re subject to investigation, get a lawyer to review your case and advise you on how best to proceed.