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The following article was published in our article directory on March 12, 2012.
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Article Category: Legal
Author Name: Mortensen Law
If you are currently embroiled in a tax dispute with the IRS you need to hire a lawyer who specializes in tax law to help you resolve it. Basically, tax legislation defines who must pay taxes and the rate at which they can be taxed, as well other issues such as any exemptions they may be entitled to as well as penalties for non-payment. It can be very complicated and you need a lawyer with the necessary experience who can help you navigate it when you have tax problems. Tax disputes can result in your being burdened with a heavy tax debt and a good tax lawyer can ensure that what you owe to the IRS is greatly reduced if not eliminated altogether.
One of the most complicated areas of Lancaster California tax law is estate taxation. Apart from the federal estate tax, many states also have their own estate tax that is independent of the federal tax system, which can result in estates too small to be taxed at the national level being levied thousands of dollars in state taxes. A tax lawyer can help you sort out your tax bill so that you will not have to pay as much. For example, a controversial area of estate tax is the valuation of assets for the purpose of computing the amount of tax to be charged. Asset valuation is also an important factor in deciding whether or not the value of the estate falls under the exemption amount, the level at which it will not be charged an estate tax. For example, the federal exemption amount as of 2011 is $5 million, meaning that estates worth this amount will not owe any estate taxes.
Also an important area in which Thousand Oaks California Mortensen Law Firm Estate Attorney can help you is estate planning so that you can reduce, or avoid altogether, the amount of estate tax under tax law. For example, your tax lawyer can help you set up an AB trust that will let you take advantage of a tax loophole in which both you and your spouse can bequeath to their beneficiaries double the amount of the allowable estate tax exclusion.
However, even if you don t have a large estate, you can still be levied a large tax bill that seems unjust. In this case, a tax lawyer can help negotiate a compromise with the IRS to reduce your tax liability to more manageable levels, either by questioning how reasonable the tax debt is or by casting doubt on your ability to ever pay the tax. Newhall California Mortensen Law Firm Tax Planning
Mortensen Law Firm
Tax, Trust & Probate Attorneys, P.C.
22807 Lyons Avenue
Newhall, CA 91321
(661) 799-8035
If you are searching for a tax lawyer, consider Burbank California Mortensen Law Firm Tax Planning so you can make sure that they are experienced in the area of tax law in which you are experiencing difficulties. Keep in mind that tax legislation is subject to interpretation and your lawyer should be able to find loopholes in the law that favor you. Then, research lawyers that you are interested in by looking at their professional credentials and background to see if they have the necessary qualifications and experience to help you with your problem. Meet with the lawyers that meet your requirements and go with the one with whom you feel most comfortable.
Keywords: California law, Tax law, Trust lawyer, Probate lawyer, Mortensen Law
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