From The Certified Elder Law Attorney's Desk:

William W. “Bill” Erhart

IS YOUR POWER OF ATTORNEY ANY GOOD FOR THE IRS?

We all rely upon powers of attorney to manage incapacity. Who will help us when we need help? Who will assist us when we need someone to help us, not actually take over? Powers of attorney are essential to make healthcare and financial decisions for us. The person making or giving the power is known as the “principal”. The one receiving the authority is known as the “agent.” The word “attorney” means substitute. I am an attorney at law. An agent under a power of attorney is an “attorney in fact.”

Lawyers, accountants and other professionals who represent taxpayers before the IRS use Form 2848, Power of Attorney and Declaration of Representative. This is the form of power of attorney that the IRS recognizes. Attorneys often prepare powers of attorney for their clients. But if a taxpayer who signed...

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