Taxes: the bane of many a person’s existence. Personally, I find that tax season is one of my least favorite parts of the year. I can not stand having to deal with all of the paperwork and frustrating back and forth that comes with that part of our lives.
Unfortunately, because they can be difficult to handle, it means that sometimes there are lapses where we do not do them correctly or payments go wrong. It is all too easy to feel lost and without direction when that happens.
What can we do, then? Well, there are a few potential options. We could make the payments, if possible, but more often than not that will leave you in a sticky spot financially. What else is there? You could consider speaking to a tax attorney. If that is something that is relevant to you, stick around – I will be discussing it in detail today.
What are Tax Issues?
I am going to begin here, as I do think it is an important part of establishing some context for the rest of this article. You might consider checking out some of the sources that I used such as this one: https://www.irs.gov/help/tax-topics. The Internal Revenue Service has many pages that you can search through to get a better understanding of this as well.
First, let me define taxes for the sake of this article today. They are any type of levy or tariff that people have to pay to the government. Keep this in mind, as it is the crux for all of the information today.
There are a ton of different issues that could arise from our taxes. It honestly makes one wonder why they exist in the first place. The main purpose is to allow the government to raise funds for public works and other important projects.
What I would like to get across today, though, is that in the United States our system is not very efficient. It can lead to a lot of problems for everyday people, especially those of us who own small businesses, and that is part of why it is such a huge point of contention in politics as well. No one really wants to see their taxes increase.
What are some of these inefficiencies? Some of them are detailed in this article, which I do suggest you check out. I find that reading through academic sources can really provide some much-needed perspective when it comes to topics like this.
The first thing that I notice a lot is that there is simply an unsustainable amount of debt in the United States. From student debts to other sources of it, it makes long term growth nigh impossible. Our taxation system is not exactly helping with that.
As I mentioned before, sometimes people end up owing the IRS a ton of money from previous years and they do not even realize it until they get a call or a letter that tells them about it. Note: I am not referring to the scam calls or emails that do not come from the official Internal Revenue Service. I am referring to actual notices sent by the IRS.
Another issue that I think is good to talk about is the way that corporations are taxed versus people. Personally, I believe that the taxes for these entities should be higher, especially with the profits that they rake in. Smaller businesses, on the other hand, should not have to pay nearly as much. We want the economy to grow via the trickle-down effect, and that is a part of it.
What to do if You are in a Taxation Pickle
Now, this is where things can get a bit tricky, as I am sure you probably guessed. If you are in the Atlanta area, though, you might be glad to hear that you have a lot of options. There are a ton of Atlanta tax attorneys that you could reach out to if you are experiencing a scare from the IRS about money owed or taxes done incorrectly.
Wondering what they can do for you, though? I understand – the phrase is a bit ephemerous in terms of what services they can offer. They have a few primary purposes. These are helping clients through any tax disputes with authorities as well as advising on things such as the acquisition of property or estate transfers and navigating through different business structures.
Obviously, tax attorneys have credentials behind them. They have to graduate from law school of course, giving them some credibility up front. If you are ever feeling uncertain about a specific lawyer, there is no shame in looking them up on your search engine of choice and finding some reviews or testimonies from other clients to see what the deal with them is.
In terms of why people hire them, for the most part it is to help reduce their own liabilities when it comes to yearly taxes. That means reducing the amount of money that they owe the government. Of course, if you are struggling with some from past years, it might be beneficial to hire one not just for those prior incidents but also for the upcoming year.
Now, that is not the only purpose that they have. So, do not count them out even if you are not experiencing something like that! You might want to reach out to one for some of those other situations that I mentioned in this section.
I think that estate transfers are one of the trickiest things to get through alone, which is why I usually consult with some sort of law professional if I am doing one. Additionally, transfers of property can be a challenge, so I do think it could be worthwhile to talk to an attorney.
While it can be easy to panic and feel stuck, just remember that you are never alone, including when it comes to taxes.