This form is a durable power of attorney. The form provides that the agent of the principal is only authorized to use the principal's funds for the best interest of the principal. If the agent fails to comply with principal's instructions, the agent then may be liable for criminal charges or civil liability.
A State of Arizona durable power of attorney with the IRS enables individuals to appoint someone to act on their behalf when interacting with the Internal Revenue Service (IRS) in matters pertaining to taxes and finances. This legally-binding document grants the appointed agent (also known as an attorney-in-fact) the authority to make decisions, handle tax-related tasks, and communicate with the IRS directly. The State of Arizona offers different types of durable power of attorney options specifically designed for IRS-related matters. These include: 1. General State of Arizona durable power of attorney with the IRS: This type of power of attorney grants broad authority to the designated agent to handle various IRS-related affairs such as filing tax returns, making payments, and representing the taxpayer during IRS audits or proceedings. 2. Limited State of Arizona durable power of attorney with the IRS: A limited power of attorney specifies certain specific powers and responsibilities that the agent possesses. For instance, this type may grant authority only for the agent to review tax notices or communicate with the IRS on behalf of the taxpayer. 3. Financial State of Arizona durable power of attorney with the IRS: This particular variant of the durable power of attorney focuses on the financial aspects of IRS affairs. The agent appointed under this power of attorney can handle financial matters, such as managing bank accounts, paying bills, and handling tax-related transactions with the IRS. 4. Healthcare State of Arizona durable power of attorney with the IRS: Although not directly related to IRS matters, this type of power of attorney allows individuals to appoint an agent authorized to make healthcare decisions on their behalf. It ensures that in case of incapacitation, the designated person can handle financial aspects relating to tax obligations. Having a State of Arizona durable power of attorney with the IRS is crucial for individuals who want to ensure that their tax matters are handled properly and in accordance with their wishes. By appointing a trusted agent, taxpayers can alleviate the burden of dealing with complex tax issues and ensure timely compliance with IRS regulations. Remember, consulting with an attorney or professional advisor is strongly encouraged to understand the specific requirements and implications associated with the State of Arizona durable power of attorney, particularly for IRS-related matters.
