Getting Ready for Tax Season

business woman preparing documents for tax season

Tax season doesn’t have to be as hectic for you as it is for thousands of Americans. With the right legal services in Austin, Texas, you are guaranteed a seamless process as you file your returns. Tax season begins from January 1st and ends on April 15th of each year. During this time businesses and individuals prepare and submit financial statements for the previous year. Here’s a deeper look into various aspects surrounding taxes, issues you might encounter, and what the Lawyer Referral Service of Central Texas (LRS) in Austin, TX can do for you.

What You Will Need For Your Taxes

Preparing a checklist of all the documents and receipts you will need helps you minimize confusion and stay organized when filing your taxes. What are some of the things you will need for your taxes? They include:

  • Personal details including your:
    • Social security number
    • Spouse’s social security number, if you are married
    • Dependent’s social security numbers, if you have any
  • Income information documents such as,
    • Income derived from gambling and lottery winnings, or jury duty 
    • Forms 1099-MISC for awards and prizes or form 1099-MSA for money derived from your medical savings accounts
    • You or your spouse’s 1099 forms if you worked under contract and was paid over $60,000 
    • Investment income generated from the sale of stocks or bonds, foreign investment, interest income, and dividend income
    • W-2 form for you and your spouse from the employers you worked for in the previous tax year, only include your spouse’s W-2 form if you are filing joint tax returns
    • Unemployment income
    • Accounting records from your business showing your income
    • Social security benefits
    • Local and state tax refunds from the previous tax year
    • Rental property income

Issues That Can Come up When Filing Your Taxes

There’s a wide array of issues that may require the assistance of an Austin attorney. By reaching out to LRS, you place yourself on the right path to getting help with any tax-related issue.

Some of these issues include:

  • Difficulty understanding and filing state sales tax
  • You need help with state and local taxing
  • You are facing problems with the IRS (Internal Revenue Service)
  • You want representation for when your company is being audited
  • You have issues with embellished wages
  • You are experiencing problems in forwarding local and commercial property tax
  • You want a reliable legal expert to protest and negotiate tax disputes on your behalf

The IRS provides investigators that can come and assess the above issues. It is, however, advisable to also seek legal counsel from an Austin tax lawyer once an investigation begins. This way you are well informed and are aware of what to expect at every stage of the investigation.

How a Tax Lawyer Can Help

LRS in Austin comes in handy when you have questions and uncertainties about how to properly forward your tax reports. Tax attorneys are excellent at providing the right advice suited for your case. They know the law and can provide legal direction if your business is being audited or you need representation over unpaid taxes.

If you are in search of a tax attorney in Austin Texas, contact Austin LRS. Here you will find competent tax lawyers who leave no stone unturned. They have offered legal counsel to many in need all over Central Texas. Whatever your tax issue is, you are guaranteed the right legal assistance with an Austin, Texas tax lawyer. Call LRS now for a referral, we are here to help!

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ADDRESS

Lawyer Referral Service of Central Texas
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Austin, TX 78752 US

referrals@austinlrs.org
(512) 472-8303

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