First-time entrepreneurs need to adhere to the federal tax laws. However, depending on the circumstance, you may fail to file your business taxes on time or at all, resulting in severe IRS debts and tax liabilities translating to bankruptcy. The good news is that there are various actions you can take to salvage the situation. It would help if you sought support from a professional tax resolution lawyer trained in handling all your legal tax issues relating to the IRS. They understand the complexity of tax regulations and help resolve tax disputes, ensuring compliance. This blog highlights three reasons you need to hire tax resolution attorneys.

Receiving Legal Advice Regarding Tax Compliance

Owing the IRS may be taxing and challenging for your company. They hold so much power over you and can be ruthless and aggressive. They can seize your company's bank accounts and assets and charge high penalties for failure to pay your taxes. Thus, having a tax resolution attorney is helpful because they understand the complexity of taxes and liabilities of the IRS. These attorneys understand the rights and settlement programs you can use to reduce your overall debts. For instance, if your business may have been incurring losses, your attorney can assist you by filing for an offer in compromise, allowing you to pay tax arrears in installments. If the IRS accepts your offer, you can repay your debts without jeopardizing your company's survival. 

Reducing Your Tax Penalties

If you are dealing with years of unfiled tax returns, facing the IRS is quite nerve-wracking. You may have an outstanding tax bill and high penalties accrued to your balance. Thus, it is best to consider employing a tax resolution lawyer regarding the issue. The lawyer can help you work with the IRS to figure out an effective payment plan that may benefit both parties. They also negotiate with the IRS on paying a fraction of your tax penalties by exploring the option of a penalty abatement that helps removes additional tax fees.

Overcoming Tax-Related Stress

Let's face it, dealing with the IRS uncertainty and legal tax battles can be stressful and overwhelming. However, it would be best not to carry that burden alone. Seek help from a professional tax resolution attorney who understands the tax process. They can communicate to the IRS on your behalf. Additionally, they can file your returns, negotiate, and help you settle your tax disputes with the IRS. Having a tax attorney represent you makes a stressful situation less worrying, guaranteeing peace of mind. 

For more information, contact a local tax resolution attorney.