Venice Tax Preparation Attorney

Venice Tax Preparation Lawyer

There is a lot of stress associated with filing your taxes. It can be much easier to navigate the process with a professional tax preparer and attorney. You may file yearly taxes, or deposit payroll taxes, or make quarterly estimates. The right Venice tax preparation attorney can help you with each of these tax responsibilities and give you more confidence in the process. An attorney can also help with more complicated issues like disputes and tax debt.

Why Hire a Tax Preparation Attorney at TaxSmith, LLC?

At TaxSmith, LLC, we offer exceptional and transparent legal guidance for those with complex finances or tax circumstances. For over a decade, our firm has served taxpayers in Florida, and we understand how state, local, and federal tax codes impact people like you. We can efficiently help you gather information to prepare to file your taxes, while providing you with honest advice tailored to your unique situation.

In 2024, the Internal Revenue Service (IRS) assessed $84.1 billion in civil penalties. Our team limits your future risk of penalties or audits by avoiding errors and mistakes in the filing process. We can help you navigate issues complicating your tax preparation, such as numerous income sources, existing tax debt, or audits by the IRS. We can also represent you in meetings at the Sarasota IRS Taxpayer Assistance Center Office, which is closest to Venice.

Tax Debt and Tax Preparation

Anyone filing their taxes could benefit from a professional tax preparation attorney, but some taxpayers see many more benefits than others. There are many individuals who are able to manage their straightforward taxes without professional support. When your taxes are more complicated, professional guidance is very helpful. This is especially true if you have existing tax debt that you owe the IRS or the Florida Department of Revenue (DOR).

Tax debt can grow if penalties and/or unpaid taxes are not addressed. It can become an issue that you no longer have the financial ability to pay for. A skilled attorney can help you assess your options for settling your tax debt. This might include:

• Penalty abatement: This can remove certain penalties and interest, limiting the total debt you owe and potentially making it easier to pay off.
• Currently Not Collectible status: This temporarily pauses the collection of your tax debt and is useful if your financial hardship is short-term.
• An installment agreement: This is a payment plan you make with a tax agency. You have to pay the full debt, but you have much more time to do so and aren’t required to pay it in a lump sum.
• An offer in compromise: This allows you to clear your entire debt by paying a lesser amount. An offer in compromise is incredibly useful for taxpayers, but also very rare. Few people qualify to apply for an offer in compromise, and only some offers are accepted. In 2024, the IRS accepted only 21% of offers made.

An attorney not only helps you resolve your tax debt but also guides you through the preparation process afterwards. When you have had tax debt before, it causes the tax agency to look at future taxes more closely. To avoid issues, a professional can help you prepare your information and file your taxes.

How Does a Tax Preparation Attorney Help?

When you hire a tax preparation attorney, you can get benefits like:

• Gathering the necessary documentation of your income, expenses, assets, and other relevant information to back up statements, credits, or deductions in your taxes
• Ensuring you file the right forms on time throughout the year
• Helping you create a strategy for legal tax avoidance and limiting how much you owe
• Planning for life changes that affect your taxes
• Making your tax strategy align with your estate planning documents
• Planning for future obligations you owe the IRS and DOR
• Helping you understand what your responsibilities are and the tax forms necessary for your unique situation
• Representing you and your financial interests in negotiations or disputes with the IRS

FAQs About Venice, FL Tax Preparation Law

How Much Does a Tax Preparation Attorney Cost in Florida?

A tax preparation attorney in Florida can have different fees depending on the type of tax preparation you need, how complicated your taxes are, and the attorney you work with. An attorney with more experience in tax codes and tax preparation may have higher rates but may also work more quickly or effectively. Tax preparation services tend to be less costly than tax law services that require dispute resolution or litigation.

What Is the Difference Between a Tax Preparation Attorney and a Tax Preparer?

The difference between a tax preparation attorney and a tax preparer is that a tax preparation attorney can give you legal advice, while a tax preparer cannot. A tax preparer may have differing levels of licensure and credentials, depending on the type of professional they are. A tax attorney is likely to be licensed with the IRS if that is their scope of practice. Both professionals can help you gather information and file your taxes.

Is It Worth It to Get a Tax Preparation Attorney?

It may be worth it to get a tax preparation attorney, depending on your financial circumstances and needs. When your taxes are not very straightforward, an attorney can help you avoid errors and file with less stress. This may include owning a business, owning a home, or being self-employed. When you are facing disputes with a tax agency, an audit, penalties, or a debt you can’t repay, the help of an attorney is invaluable.

What Are Common Errors in Tax Preparation?

One of the most common errors in tax preparation is math errors. There were more than 1.2 million math errors in 2023 individual income tax returns reported by the IRS. Other tax preparation issues include improperly applying your tax bracket, failing to list a Social Security number, forgetting to sign the return, not selecting your filing status correctly, misspelling names, and giving the wrong bank account numbers. Some of these errors are simple to fix.

Let Us Help With Your Tax Preparation Case

At TaxSmith, LLC, our attorney offers compassionate and dedicated legal support, helping you through whatever tax circumstances you need help preparing. Reach out to our team today.

Venice, FL Tax Preparation Law Additional Resources:

Tax Liens in Florida

• How to Remove a Tax Lien in Florida
• Federal Tax Lien Statute of Limitations in Florida
• How Long Does a Tax Lien Last in Florida?

Tax Debt & IRS Issues in Florida

• How to Get Out of Tax Debt in Florida
• Can a Tax Attorney Negotiate with the IRS to Resolve Tax Debt Issues in Florida?
• IRS Offer in Compromise in Florida
• How to Negotiate a Tax Debt Settlement with the IRS in Florida
• Tax Settlement Options for Florida Residents