The tax laws are very complicated to the point where it is sometimes difficult to determine whether you are breaking the law or not. A simple miscalculation when you are filing your annual tax return could land you in hot water, destroy your reputation and leave you bankrupt. There is simply no room for error as far as taxation is concerned especially for businesses.
Save yourself from the IRS
A tax attorney is well versed in the complication and legalities of tax laws and is able to guide you in case you have problems with the IRS. He or she has the responsibility to help you solve the problems you may have with the state revenue department or the IRS.
A tax attorney can help have fines reduced, guide you through a tax audit, have liens removed and so on in case you are in trouble with the IRS. He or she understands how tax laws work and is able to prepare an effective plan of action for your case. Let us look at some of the best tax attorneys in the U.S.:
Latham & Watkins
Latham’s tax lawyers practice areas include transactional tax, international tax, tax controversy, tax exempt organizations, benefits and compensation & employment. They have experience taking care of matters for private equity funds, multinational corporations, financial institutions and other clients. The tax lawyers at Latham & Watkins help their clients deal with complicated tax problems that emerge from general business operations, transactions and so on. Latham’s teams successfully represented Toshiba Samsung Storage Technology, which led to the DOJ closing its investigations against the company.
Kirkland & Ellis
Volkswagen hired Kirkland & Ellis LLP in September 2015 to help it handle the car manufacturer’s faked pollution controls. The law firm also helped lead the defense for BP PLC when the oil company was being investigated after the 2010 deep water Horizon oil disaster. Kirkland’s 1,600 lawyers have represented clients from all over the world in complex litigation and helped them settle disputes in areas like corporate tax and others. Part of their philosophy is to provide the highest quality legal services for their clients.
Cravath, Swaine and Moore
This New York based law firm has a team of lawyers who have extensive experience in areas like civil litigations/class actions. They are mostly known for representing Morgan Stanley when it was facing civil antitrust class actions and Time Inc and Time/Warner Retail Sales and Marketing in a litigation filed by Anderson News and Anderson Service (now defunct). The firm has 26 practice areas and it was founded in 1819. The firm’s lawyers are known for their commitment to the representation of their clients’ interests particularly in the US.
Davis Polk & Wardwell
This global law firm has more than 800 lawyers and its largest office is located in New York. The firm claims to be a leader in international, cross-border and domestic tax law. It ranks among the top law firms in the world and has represented PricewaterhouseCoopers US in all civil litigation and investigations relating to Bernard Madoff. Davis Polk lawyers also represented Morgan Stanley during the financial crisis and Bear Stearns in its investigation after the collapse of two hedge funds.
While most tax negotiations can be handled by the average American tax payer, complicated tax issues can only be handled by an experienced tax attorney. Remember that tax laws and codes are not only complex but they also tend to change yearly. So, never take chances with your financial future and get a lawyer when you are in trouble with the IRS.