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New York Tax Attorney

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International businesses usually hire an accountant to handle the company's sales, property, income, and employment taxes. However, they also hire a New York tax attorney to ensure that all tax laws are adhered to. These attorneys defend the company in the event of a problem with tax law. The New York tax attorney provides that same service to individuals, too. For both types of clients, the tax attorney acts as an advocate and a planner for all tax law issues.

Tax law is defined as a system of laws describing government levies on economic transactions, called taxes, that are codified. Tax evasion/fraud occurs when an individual or business avoids, with intent, paying federal, state, or local taxes through illegal means. Tax evasion is a federal crime with punishments up to and including fines, prison time, and significant asset forfeiture.

On the opposite side of tax evasion and fraud is tax avoidance, which is defined as a process where one has worked out their finances so they can apply the full exemptions and deductions that tax laws provide to diminish taxable income. Tax avoidance avoids the establishment of a tax liability, and is completely legal, thus it should not be confused for tax evasion and fraud, which is a tax that is already legally owed.

Another way many individuals get into trouble with their taxes is by entrusting their taxes to professional tax preparers, who instead file fraudulent tax returns. The IRS encourages taxpayers to pay attention and be cautious when choosing a tax preparer, such as to avoid preparers who charge one based on the fee of the amount of a refund, or who allege that they can collect larger refunds than other preparers.

A tax attorney is an advocate for his clients inside and outside the courtroom. Most tax cases are settled outside of the courtroom as a result of strategic negotiations between the tax attorney and the government officials presiding over the case. Through these negotiations, the attorney uses his intimate knowledge of the New York tax laws to reach the best solution for his client. Tax attorneys often succeed in the reduction of penalties, such as fines or jail time. They can also reach settlements for the removal (eventually) of liens, stop a seizure, and repeal a garnishment of income. In the case of corporate clients, tax attorneys can oversee payroll audits. Inside a courtroom, the tax attorney can represent his clients effectively, whether it is an individual or corporate client.

In recent New York tax news, a father and song were arrested for the conspiring to evade more than $300 million in federal income taxes between the years of 1988 and 2005. They committed securities, wire and bank fraud by concealing the failing conditions of their company to investors, analysts, and lenders. The father is serving 15 years in prison while the son is serving 20 years in jail, though both have maintained their innocence.

Planning is a large part of tax penalty protection. A tax attorney plans payroll tax and benefit withholdings with corporate clients, and estate, inheritances, and even retirement for individuals. In some cases, the tax attorney is also a tax accountant, or has an accountant or two on staff. This way, both the legal and the financial aspects of tax needs are covered. The goal is to ensure that the clients head off any taxation issues before they arise.

The New York tax attorney is somewhat of a multipurpose representative. He or she can represent a client and prevent any larger issues. A tax attorney's duties are far too numerous to mention; only the highlights are covered here. Before you attempt tackle a big tax issue alone, consult a New York tax attorney to see what they can do for you.