Who to Contact for Tax Questions: Tax Lawyer or Accountant?
Once you know you want to seek professional tax advice, you will next have to consider whether to approach a tax attorney or an accountant. Below are some things to keep in mind as you decide which route to go.
The similarities. Knowledgeable accountants and tax attorneys will be able to provide tax advice and planning strategies to individuals and businesses. The U.S. Tax court allows attorneys and certain non-attorneys, including qualified accountants, to represent clients in cases.
The differences. The training of attorneys, including emphasis on studying case law, legal writing, and research may equip attorneys with an edge on specialized tax litigation and liability issues. The training of accountants in financial planning, and tax regulations and codes may give them an edge in financial strategy.
Consider your needs. Are you looking for simple tax preparation assistance, or are you planning and incorporation strategy for a new business you are starting? For straightforward tax advice or assistance with filing income taxes you may save money and time in contacting a tax accountant. Additionally, an accountant may be the right fit if you are contacting an attorney primarily for planning or preventative purposes for you or your business.
If, on the balance, your questions are more complex, involve possible litigation or liability issues, and/or involve multiple parties or organizations, you would be advised to contact an attorney. This is especially true if you find yourself in the position of receiving and responding to tax claims against you, your family, or your business.
Best of both. Can't decide? Consider choosing both. There are a growing number of accountant-lawyers who have studied and are certified to practice both fields. These practitioners will likely be highly specialized in a particular area of tax law and, despite charging higher rates, may be invaluable in addressing your legal issues.
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