If You Receive an IRS Notice of Intent to Levy

This article describes how to become a tax lawyer. Tax lawyers are experts in working with customers to resolve their problems with state revenue departments and the Internal Revenue Service (IRS). They normally focus only on tax issues and relief. They can support clients who experience difficulties in getting through an audit, having liens removed, reducing fines, and helping them to solve self-employment and small business issues. Tax lawyers can help avoid tax problems that might happen checking for potential problem spots and giving advice on how to avoid these issues. They explain complex and not easily understandable tax laws in practical way.

Tax lawyer helps people control business’ and company’s tax matters. They work for business owners with planning taxes explaining when, why, and how to file. Another issues tax lawyer can be helpful with is filing for bankruptcy. Besides, they can provide help with setting up stock portfolios, trust funds, and other investment accounts.

Education requirement to become a lawyer is usually a 4-year college degree and 3 years of law school. Many tax lawyers pursue an undergraduate degree in accounting. To be admitted to any law school that is approved by the American Bar Association students are required to take the Law School Admission Test (LSAT). Since tax laws change very often, tax lawyers must be informed about current laws and follow through continuing legal education courses.

Tax lawyer in all states must be licensed. Applicants are required to pass a written bar examination. Students must be graduates from an American Bar Association accredited law school if they want to apply for the bar exam. Moreover, there are states that require passing an additional written ethics examination.

Property Tax Attorney

A property tax attorney can be of assistance if a homeowner is concerned about any of the town’s statements on their property tax bill.  A homeowner may want to contest the property tax assessment value of their home or issues such as the town’s failure to include in that assessment certain environmental or conservation tax exemptions or abatements from that assessment.  A homeowner can successfully pursue that process himself but may be overwhelmed by the legalities involved with State hearings and town filings.  Sometimes a homeowner may want to involve that services of a property tax attorney to best asset his rights and interests in a property tax abatement hearing.

Contesting Property Value Tax Assessments

A homeowner’s property is taxed based on the town’s assessment value of that property and the value of any homes or other dwellings on it.  Property tax assessments are not made every year and when they are made, they very rarely go down, but rather they usually go up. This may cause the homeowner problems if he wants to sell his property. Many potential buyers look at the town’s property tax record and the town’s valuation and assessment of the property as well as the fair market value.
 Other types of issue that can arise involve such mistakes as the town claiming taxes on a two family home rather than a single family home.  A single family homeowner will have less property tax liability on the dwelling than a two family homeowner.

Delinquent Property Taxes

A property tax attorney can provide important assistance if a homeowner owes delinquent property taxes.  A tax attorney may be able to help you save your property from a town held property tax auction of the home and land to pay those taxes.  Many time in hotly contested divorces that family home is intentionally placed at risk of loss by one of the parties by non-payment of town property taxes.  The person still living in the home may be booted out onto the street by a town forced sale of the property to recover the unpaid taxes.  It is a heartless tact that unconscionable attorney often use to extort that title to the land from the proper owner.  To fight that kind of situation the only answer is to resort to the assistance of a qualified property tax attorney.  He may be able to establish a repayment plane with the town to keep the roof over the heads of the homeowner and his children.

Help for Property Taxes

A homeowner may need the assistance of a property attorney that understands the property tax laws and has dealt with property tax issues. Consider years of paying thousands out in improperly assessed taxes at an undue rate against the cost of hiring a property tax attorney to contest the town’s assessments and successfully abate them.  Many a town has denied a homeowner property tax abatement petitions without genuine basis or cause.

What is the Federal Gift Tax?

The gift tax federal rules are set forth in Chapter 12, Subtitle B, section 2501 of the Internal Revenue Code.
The federal gift tax is a tax imposed on any gratuitous transfer of ownership of property.  The gift tax is imposed on the giver  of the gift - not on the recipient.  Gifts subject to the tax can be in the form of cash, stocks, real estate, or other tangible or intangible property.  A transfer is completely gratuitous when the giver receives nothing of value in exchange for the gifted property.  A transfer is gratuitous in part where the giver receives something of a value that is substantially less than the value of the property given by the donor.  In such a case, the amount of the taxable  gift is the difference between the value of the gift and the item received in exchange.  For example, if a person gifts an automobile to a neighbor and receives a lawnmower in return, the difference between the value of the automobile and the lawnmower may be taxable.

Exemptions from Gift tax

Not all gifts are taxable under the federal gift tax rules, the following are usually exempt:

• Gifts that are not more than the annual exclusion for the calendar year, which is $13,000 per person per year for tax year 2010
• Gifts to a political organization for its use
• Gifts to charities
• Gifts to one's spouse
• Tuition or medical expenses one pays directly to a medical or educational institution for someone

There are two levels of exemption from the gift tax. First, there is the exclusion noted above for gifts up to $13,000 per person per year. An individual can make gifts up to this amount to as many people as he or she wishes each year. A married couple can pool their individual gift exemptions to make gifts worth up to $26,000 per person per couple per year without incurring any gift tax. A lifetime gifting limit of $1,000,000  is allowed before anygift tax is incurred.
The treatment of a gift for purposes of the federal gift tax should not be confused with the treatment of gifts for other tax purposes. For example, for U.S. income tax purposes, most gifts are excluded from the gross income of the recipient under Internal Revenue Code section 102, and thus are not taxed as income.  If you give or receive a gift of over $13,000, you should seek advice from a tax attorney.

How to Calculate the Gift Tax Rate

Everyone who is considering giving a substantial gift to someone else should understand not only that there is a gift tax that must be paid, but what the gift tax rate is. There can be significant tax penalties for those who do not take these factors into consideration before making their gift, up to a possible 45% of the gift amount in some cases, as of 2009. However, there are also some tax exclusions that may be able to protect a donor from some tax, or in some cases, any tax.

Rules Governing Gift Taxes

Some wealthy individuals in the past have attempted to avoid the substantial estate taxes their heirs would face after their death by giving away their estate prior to their demise. In order to close this loophole, the IRS enacted a gift tax that would impose a tax upon such gifts as high, or nearly as high, as the estate tax. This law was not meant to penalize those attempting to provide legitimate gifts for their children or others, so there are two types of exclusions that donors may apply:

• Individual gifts under $13,000 in any given year are not subject to the gift tax, no matter how many such gifts are given

• Gift amounts over $13,000 can be excluded from the gift tax through a $1 million lifetime, cumulative exclusion. However, that exclusion can also be applied to the estate tax the deceased’s heirs would be required to pay. In 2009, a $3.5 million estate exclusion could be reduced by the amount of the $1 million gift tax credit not used in their lifetime.

There are additional types of gifts that are exempt from gift taxes altogether, including gifts to spouses, gifts of tuition paid directly to the school, gifts of medical payments to medical facilities, and gifts to charitable organizations.

Filing a Gift Tax Return

In many cases, donors must file a Gift Tax Return for gifts upon which they were not required to file an exclusion, such as gifts to spouses. The required paperwork is IRS Form 709, and it contains a table for computing the gift tax, when necessary. It specifies the actual breakdown of when these amounts apply, but in general, the tax rates for 2009 gift taxes range from

• 18% for taxable gift amounts less than $10,000

• To 28% for taxable gift amounts less than $100,000

• To 39% for taxable gift amounts less than $1,000,000

• To 45% for taxable gift amounts over $2,000,000

These rates only apply to amounts that are not excluded. For a gift of $14,000 in 2009, the rate would be 18% on $1,000, or $180. Of course, if the filer chose to apply that amount to their $1 million lifetime exclusion, they would not owe any gift tax on it at all.

Getting Legal Help with Gift Tax Return Rates

There are many details to include when filing a Gift Tax Return, including documentation, correct tax calculations, and all required gifts. There are penalties for failing to list all gift amounts, as well as for attempting to defraud the government by assigning an incorrect value to the gift or gifts given. A skilled tax lawyer can help prepare IRS Form 709 accurately and thoroughly, as well as take advantage of all the exclusions to which their client is entitled.

How can I be sure I am complying with sales tax law as a vendor?

As a vendor, you need to make sure that you are complying with sales tax law. You surely know how important tax laws are and the trouble that you can find yourself in if you don't follow those laws. Here is how you can be sure you are complying with sales tax law as a vendor.

How to Get Licensed

To begin with, you need to check with your state's Department of Taxation to make sure that you are adhering to all rules and regulations specific to your state. A lack of knowledge is not an acceptable reason for not following sales tax law. In general, vendors who make taxable sales will need to apply for and obtain a vendor's license. There are several different types, such as regular, delivery, transient, and service vendor's licenses. You will need at least one type of license and possibly more than one.

Handling the Sales Tax Matters

Once you have obtained your vendor's license or licenses, then you need to collect the correct amount of sales tax whenever you conduct a transaction where sales tax is applicable. You will also have to maintain records of all these transactions. Finally, you will have to make sure that you file your tax returns while including the payment of those taxes that you collected.
You may wish to hire a lawyer to help you to understand the whole process and so that you do not encounter any problems later. This brief explanation covers the major details of the process, but you may have special circumstances that a lawyer will be able to further illuminate.

Help from a Tax Attorney

There are many types of Tax Attorneys who specialize in nearly every facet of tax law.  As a general rule, tax attorneys are often critical to the successful negotiation of issues that will have an impact on the taxpayer.   It is important to seek out a taxation attorney who specializes in the particular area of tax law that applies to the client and to the situation of the business or entities involved in a transaction.  As tax laws get more complicated, it becomes even more necessary to have a taxation attorney on hand to discuss the options and ensure the legality of decisions that will impact tax liability. 

Role of Tax Attorneys

Since tax laws in the United States are very intricate and difficult to understand, the role of a tax attorney is critical when making important decisions that will impact the tax liability of an individual.   For both businesses and individuals, seeking the advice of a qualified tax attorney can often mean the difference between making a good choice and a poor choice when it comes to tax deciding personal tax issues.  From providing guidance so that individuals are able to create things like trusts that have beneficial tax implications, to helping businesses structure themselves in a way that allows profits to be maximized, the role of a tax attorney is critical.
Additionally, the role of a tax attorney is to help individuals and businesses operate within the confines of the applicable tax laws.  Attorneys who have skill and knowledge around tax rules and can understand the impact that certain decisions will have on overall tax liability can make a substantial difference in the business endeavors and personal affairs of their clients.  

Tax Problems an Attorney Can Help With:

Tax attorneys can be very helpful in a wide range of situations where tax liability is involved.  Some of the common issues Tax Attorneys help with include the following:

• Property Tax Appeals: Appealing Reassessments and lowering Property Taxes
• Tax Evasion: Fighting or Minimizing Charges
• Tax Audits: Setting up a defense for beating or minimizing the damage of an audit
• Innocent Spouse Tax Relief: freeing an innocent spouse from their spouses tax debts
• Wage or Bank Levies: reducing or fighting wage bank levies or wage garnishments
• Asset Seizure: minimizing or fighting them
• Tax Penalties: reducing the extent of penalties and fines, setting up repayment plans
• Unpaid Income Taxes: minimizing the reprecussions and setting up a plan to pay them back
• IRS Tax Collections and Reducing Tax Debt
• Tax Fraud and Litigation
• Tax Liens: filing or releasing them
• Self Employed or Business Tax Legal issues

Types of Tax Attorneys

Just as there are many types of taxes, there are also many types of tax attorneys.  Some tax attorneys specialize in the tax benefits associated with estate planning and the creation of beneficial trusts.  Other tax attorneys specialize in highly complex business structures that are intended to allow taxation to flow-through or exempt certain entities.  Finding the right type of tax attorney requires the client to do their homework and research attorneys who specialize in the areas that pertain to their needs.

• Tax Litigation Attorney
• Income Tax Attorney
• Property Tax Attorney
• Criminal Tax Attorney
• Business Tax Attorney
• Property Tax Attorney

Finding a Tax Attorney

Since effective help and guidance from an attorney can make a significant difference in the overall success of a business in properly handing their business tax issues, it is highly recommended that the services of a tax attorney be sought whenever necessary.  While the rules and regulations may seem straightforward in certain areas, there are nuances and details that may slip through the cracks without attorney involvement.  Especially as it pertains to decisions that will have a major impact on tax liability, a tax attorney should always be consulted. Visit our Tax Attorney Directory to find Attorneys specializing in Tax Laws in your state and city. A free case review is right at your finger tips to determine your legal help options for Tax Relief.

Income tax lawyers ask for extension in deadline

KARACHI: The Income Tax Bar Association (ITBA) has requested for an extension in the deadline for filing income tax returns to November 30. The bar has said that this will allow taxpayers to file their returns and statements with ease in light of problems with the electronic filing portal.
The request was made by ITBA President Ali Rahim in a letter to Federal Board of Revenue Chairman Sohail Ahmed.
The letter said that ITBA has always encouraged the electronic filing of taxes and that the FBR had pledged its support to the bar in this regard.
The earlier extension from October 15 to October 30 was requested on the premise that the electronic filing portal of the FBR was not functioning properly. However, the portal was not functioning properly up to October 22, said the letter, adding that lawyers were filing sales tax returns, which had a deadline of October 25, for the first three days following October 22.