Tax Law in Missouri

If a tax matter is keeping you up at night, consider consulting with a Missouri tax attorney to determine whether it’s an issue you can handle on your own or whether you’d be better served with legal guidance.

Here’s some background that will help you understand how tax lawyers help. We’ll use this article to quickly review:

• When a MO tax lawyer can help you
• The types of taxes a MO tax attorney deals with
• How to find free non-legal tax help
• How to find legal tax help

A Missouri Tax Lawyer Can Help with these Tax Problems

These are example tax cases where a tax attorney would be helpful; always call the tax lawyer of your choice to determine how he or she can help you.

• Franklin’s business partner is being secretly investigated for tax fraud; Franklin has been asked to help the IRS gather information.
• Gert and Tom received an audit alert from the Missouri Department of Revenue. They run a real estate business.
• The IRS is auditing Michelle. She and her partner, Paige, are stressed and don’t want to face the IRS alone.
• Fabio, an American citizen, has lived in Italy for the last 3 years and needs to file back income taxes.
• The tax court has ruled that Joon owes $12,000 in back income taxes. She doesn’t think the calculations are accurate, doesn’t have the cash, and wants to settle.
• Sang is considering expatriating to avoid income taxes on his IPO profits.

A Missouri Tax Attorney Handles These Kind of Taxes

Shockingly, there are 5 times that your assets can be taxed. Some refer to this as the “hand of taxation” and each finger represents a taxable event.

Here’s what we mean:

1. You are taxed when you earn money (income taxes).
2. You are taxed when you own assets (property tax).
3. You are taxed when you give money away (gift taxes).
4. You are taxed when you spend your money (sales taxes).
5. You are taxed when you die and pass your money to loved ones (estate and generation skipping taxes).

That’s really kind of shocking to think about the “hand of taxation,” isn’t it? Tax attorneys make sure you’re paying the right amount of taxes – no more – and no less.

Where do I Find Missouri and Federal Tax Laws?

There is a ton of information available on the Internet. However, if you need to know how the tax law actually applies to your individual case, you need to consult with a qualified tax attorney.

Here are important tax links:

• Federal Tax Code, Regulations, and Guidance
• Missouri Revised Statutes
• Missouri specific taxes:
  • Missouri income tax is 6% on income over $9,000.
  • When you buy something in Missouri (or use a product in Missouri that was purchased elsewhere without paying sales tax) it’s taxable. This is Missouri sales and use tax.
    Here’s a comprehensive Missouri sales tax chart. The sales tax rate can range up to above 7% depending upon the locale of purchase.
  • Good news for beneficiaries. Missouri does NOT have an inheritance tax or an estate tax.
• Local Municipal Laws and Regulations

How Do I Find Non-Legal Tax Help?

Need a tax form or have questions about tax forms, tax rates, personal taxes, business taxes, and filing deadlines? Check out the IRS and the Missouri Department of Revenue for non-legal tax help.

How Do I Find Legal Tax Help?

If you’re feeling stressed about a tax issue, make the phone call. You’ll either find out, it’s no big deal and you can handle it on your own – or – you’ll get a strong legal advocate on your side. To find a Missouri tax attorney, search our site, www.attorneys.org, or ask the bar association or a friend for a referral.

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