Tax law is nothing to be afraid of; you just need due diligence in protecting yourself financially. Taxation law encompasses taxes on income and wealth, capital gains, retirement pensions, social security contributions, inheritance taxes, financial gifts, sales tax and business tax. State tax laws vary depending on where you live, but federal tax laws are the same for everyone.

When planning for your financial future look at several tax law firms before you make a decision. You will need to build a trusting relationship with your tax lawyer. A business tax lawyer is not a friend. In order to manage your finances effectively you need a business tax attorney who is impartial.

Understand the following:

1. Good tax law professionals know the changes in tax law and are able to adjust quickly to the constant changes that occur. Such professionals often call themselves tax law specialists. There are varieties of tax law categories an attorney may specialize in.

2. An income tax attorney specializes in only income tax law. IRS tax law falls under the specialty of an income tax attorney.

3. A tax relief attorney helps individuals and businesses settle with the IRS. They will help arrange payment plans, remove penalties and bank levies, protect wages from being garnished and file unfiled returns.

Action Steps
The best contacts and resources to help you get it done

Protect yourself by understanding tax law

Tax law monitoring follows the charges imposed on individuals and companies by state, local and federal government agencies. The function of tax law is to raise monies for public use. Academic institutions such as law and business schools teach tax law as a sub-discipline. Graduates who specialize in tax law often work as consultants and may appear in litigation proceedings.

I recommend: If you want to work within the realm of tax law, get a degree in accounting. A Certified Public Accountant degree requires state certification and a passing effort on the Uniform Certified Public Accountant Examination.

Learn why you need to know tax law and why you may need a tax lawyer

You definitely need a tax lawyer if you have a taxable estate that is complex and you need to file an estate tax plan. People who are starting a business should know tax law, have a tax lawyer or hire a tax law firm. This may not be true if you already have a small business, but it is something to consider carefully. You need a tax lawyer if the IRS has a suit against you, if you are involved in a criminal investigation of tax fraud or if you are involved in international business.

I recommend: You will need to learn tax law fast and hire an IRS specialist if the IRS is sending you letters and calling you. Free online consultations with ex-IRS agents is just part of the services offered by Effectur, a tax resolution law firm. Frequently asked questions are common on websites specializing in tax law. Working out a payment plan through a tax lawyer is often the only solution for tax issues—a tax lawyer can work out the best payment plan for you with the IRS.

Pick a tax lawyer who is right for you

You want to find a tax lawyer who has advanced training in tax law and an accounting background.

I recommend: Many tax law firms offer free consultation like Tax Resolution Services.Co. Roni Lynn Deutch is a tax lawyer who offers various relief services and can help you manage your money after restitution has been made to the IRS.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Settle your tax debt before an insurmountable amount of interest accrues.
• •  Offer a compromise to the IRS before they want to garnish your wages or other penalties occur.
• •  Hire a tax law specialist to prevent the IRS from seizing your property and attaching levies to your personal assets.