Attorney tax law is a very specialized area of legal practice. Lawyers practicing attorney tax law specialize in the laws, regulations, and codes that govern federal, state, and local taxes. These lawyers may also be called upon to represent clients in litigation involving tax issues. They are usually licensed to practice law in their state, and they must be familiar with the laws of other states as well.
One primary responsibility of attorney tax law is helping businesses structure their transactions to minimize the amount of taxes they must pay. This includes advising on the tax consequences of entities and transactions, preparing financial statements, assisting in forming business entities and investment funds, negotiating real estate deals, and providing counsel to businesses involved in tax controversies.
Some attorney tax law professionals work for the government, primarily for the IRS and state Departments of Revenue. They handle audits and collections, advise other government agencies on tax matters, and appear in tax court.
Other duties of an attorney tax law may include reviewing financial and estate plans for clients to ensure they are in compliance with the law. This may include determining whether a client should own property individually or through a trust, and how to properly structure retirement plans for employees. A tax lawyer may also work with a client to help them obtain a state or federal tax exemption or defend them in a tax fraud investigation. When choosing an attorney to hire, look for someone who has experience in your particular type of issue and can provide references from clients with similar problems. It’s a red flag if an attorney claims to be a specialist but has not earned the Board-Certified Legal Specialist designation. адвокат данъчно право