Are you a business or an individual facing a tax litigation/dispute at the beginning of 2017? Do not panic as solutions exist and it is possible to call on professionals who will be able to help you to handle your tax situation.
At T2inc, we give you specialized advice and tips to better manage what can often be a difficult situation. We are aware that taxation can be really complex, which is why we offer our help in advising you to confidently approach your tax issues.
Tax litigation: What are some classic examples?
Tax litigations are financial disputes between Revenu Québec or the Canada Revenue Agency and a taxpayer, whether the taxpayer is an individual or a corporation. The reason for a litigation often concerns tax obligations and surfaces as the result of a problem discovered during a tax audit.
The end of the tax year is generally difficult for companies as it is the time where balance sheets are closed: here many errors can take place and forgetfulness is quite frequent. For example, it is not uncommon for corporations to omit certain sources of income in their tax return, to declare amounts "too" perfect in the eyes of tax authorities or to declare a too large deficit. Overall, there are many reasons that could call for tax litigations following an audit.
Regulating your tax situation: Who to call on?
Challenging tax adjustment is no small matter and it is better to be well-surrounded with experts in the tax industry. That's why we at T2inc give you an overview of the different professionals you can turn to in order to regulate tax litigations.
Accountants: an undeniable asset, but far from the right solution
Accountants will most likely be able to advise you on certain decisions to be made regarding issues surrounding litigation. Finding a good accountant is therefore essential to obtain sound advice.
However, as soon as your case becomes serious and the legal issues increasingly complex, advanced tax skills will quickly become needed. Moreover, legally an accountant has no right to plead on your behalf in court.
Tax experts: call on the services of an expert in the tax field
A tax expert is a true expert on tax issues and laws. Their expertise is essential for you in the case of litigations as the rules that apply to taxation are very dense and varied. Only experts in the field are able to understand and master them perfectly. If you are a business executive, you must choose the right tax expert for your business.
However, like an accountant, a tax expert cannot represent you in court in the case of litigations. But as a tax advisor, they can lead you towards the best solution for your tax-based disputes.
Tax lawyers: dual expertise beyond compare
A tax lawyer specializing in tax litigation is the expert you’ll need if you are in such a difficult situation. You will have the chance to benefit from the advantages of the tax specialist who is well-versed above all in the legal provisions of the law: one that can plead on your behalf in court.
Whether through training or experience, they know the laws surrounding tax litigations, as well as the intricacies of taxation and the ability to find the best solution in your interest.
If you are currently facing a tax litigation situation, you should very quickly turn to the right people. Tax attorneys may be expensive, but they can most definitely save you a lot of money in the long-run. Contact us for more information!