Before delving into a discussion about the functions of Internal Revenue System (IRS), it is essential for one to gain understanding about the concepts and issues that are relevant to the subject matter at hand. So for this reason, we have included a few brief discussions on the nature of Internal Revenue System (IRS) and the definition of ‘Offer In Comprise’ (OIC). Moreover, this article tackles various pesky issues related to possible IRS abuses. The service of IRS Tax Attorney will help the tax payers to effectively preclude tax overpayment.
You might be wandering what is IRS? IRS is a U.S Government agency that is responsible for the administration and the enforcement of the revenue laws of the Treasury Department. IRS was formerly known as Bureau of Internal Revenue, it was formally changed in 1953 following the Treasury Decision 6038. Later, the Congress enacted Internal Revenue Service Restructuring and Reform Act of 1998 that resulted to the four operating divisions including Large and Mid-Size Business (LMSB), Small Business/Self Employed (SB/SE), Wage and Investment (W&I), and Tax Exempt & Government Entities (TE/GE). The IRS now functions in the above four divisions.
Tax lawyers provide you with detailed information pertaining to tax payment, international tax attorneys, income tax attorneys etc. Also it should be noted that business tax attorneys should b selected on the basis of their area of expertise. The attorney should have experience in representing businesses and should be able to interact with company management, employees and financial planning. Also it gives you a broad idea about federal and local tax laws.
IRS lawyers also help you to reduce your tax amount considerably. They also promote better representation. A tax attorney is versed with IRS rules and regulations that help you to reduce your tax liability while helping you avoid any filling mistakes. So it will be advisable to hire a qualified tax attorney at the earliest to ensure that you and your businesses are abiding by tax laws.