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Tax Advisor

Definition

A tax advisor or tax consultant is a person with advanced training and knowledge of tax law. The services of a tax advisor are usually retained in order to minimize taxation while remaining compliant with the law in complicated financial situations. Tax Advisors are also retained to represent clients before tax authorities and tax courts to resolve tax issues.

What is 'Tax Advisor'

A financial expert with advanced training and knowledge of tax law. The services of a tax advisor are usually retained in order to minimize taxation while remaining compliant with the law in complicated financial situations. Tax advisors can include Certified Public Accounts, tax attorneys and financial advisors.

Explaining 'Tax Advisor'

Tax advisors and preparers are regulated but not licensed by the Internal Revenue Service. Treasury Department Circular No. 230. Reg. 10.33(a) of the circular outlines the duties of tax advisors. There can be penalties and disciplinary action for failing to follow the standards outlined by the IRS.


Further Reading


Financial advice: A substitute for financial literacy?
search.ebscohost.com [PDF]
… for the UK Inland Revenue, latterly as a Deputy Director of the Oil Taxation Office … Philip Daniel is Deputy Division Chief, Tax Policy, in the Fiscal Affairs Department of the International … He was formerly a Special Advisor (Economic) and Head of the Economic and Legal Section in …

The role of financial advisors in the negotiated sale of tax-exempt securitiesThe role of financial advisors in the negotiated sale of tax-exempt securities
clutejournals.com [PDF]
… for the UK Inland Revenue, latterly as a Deputy Director of the Oil Taxation Office … Philip Daniel is Deputy Division Chief, Tax Policy, in the Fiscal Affairs Department of the International … He was formerly a Special Advisor (Economic) and Head of the Economic and Legal Section in …

Taxation and corporate financial policyTaxation and corporate financial policy
www.sciencedirect.com [PDF]
… for the UK Inland Revenue, latterly as a Deputy Director of the Oil Taxation Office … Philip Daniel is Deputy Division Chief, Tax Policy, in the Fiscal Affairs Department of the International … He was formerly a Special Advisor (Economic) and Head of the Economic and Legal Section in …

The incentives for tax planningThe incentives for tax planning
www.sciencedirect.com [PDF]
… for the UK Inland Revenue, latterly as a Deputy Director of the Oil Taxation Office … Philip Daniel is Deputy Division Chief, Tax Policy, in the Fiscal Affairs Department of the International … He was formerly a Special Advisor (Economic) and Head of the Economic and Legal Section in …

Powering ideas through expertise: professionals in global tax battlesPowering ideas through expertise: professionals in global tax battles
www.tandfonline.com [PDF]
… for the UK Inland Revenue, latterly as a Deputy Director of the Oil Taxation Office … Philip Daniel is Deputy Division Chief, Tax Policy, in the Fiscal Affairs Department of the International … He was formerly a Special Advisor (Economic) and Head of the Economic and Legal Section in …



Q&A About Tax Advisor


Are there penalties for failing to follow standards outlined by the IRS?

Yes, there can be penalties and disciplinary action for failing to follow standards outlined by the IRS.

What are the services of a tax advisor usually retained for?

The services of a tax advisor are usually retained in order to minimize taxation while remaining compliant with the law in complicated financial situations.

What is a financial expert?

A financial expert is an individual with advanced training and knowledge of tax law.

Who can be considered as a tax advisor?

Tax advisors include Certified Public Accounts, tax attorneys and financial advisors.

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